Islanders urged to be careful about financial fraud

Islanders are reminded to be extra cautious of potential financial scams especially during the global COVID-19 pandemic. 

Fraudulent financial activity increases during challenging times and is often designed to take advantage of individuals, particularly the vulnerable. Dishonest individuals and organizations will use various sophisticated and opportunistic tactics to exploit people, such as insurance, investment and banking scams, as well as fake schemes pretending to support a good cause. 

“It is incredibly disappointing that there are people preying on others, especially the vulnerable, during one of the most challenging times of our lives. We have all heard the expression that if something sounds too good to be true, it probably is. I encourage all Islanders to always do their due diligence when investing or donating their hard-earned money. Ask questions and check with the regulators in the department before making important financial decisions.”

- Justice and Public Safety Minister Bloyce Thompson

Companies and individuals authorized to sell insurance and investment products are reviewed and regulated through the Department of Justice and Public Safety. Anyone with questions or concerns can contact the department by phone at 902-368-4550 or email peioss-staff@gov.pe.ca 

Learn more about how to protect yourself here.

Media contact:
Vicki Tse
Department of Justice and Public Safety

General Inquiries

Consumer, Corporate and Insurance Division
1st Floor, Shaw Building (North Entrance)
105 Rochford Street
PO Box 2000
Charlottetown, PE   C1A 7N8

Phone: 902-368-4550
Fax: 902-368-5283