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Investor Alert: Fraudulent Website Impersonating Funds Direct Canada Inc. and Falsely Claiming CIRO Registration

Canadian Investment Regulatory Organization (CIRO)
Friday at 3:35pm ADT · July 4, 2025 3 min read

Be an informed investor – Protect yourself against fraudulent schemes

TORONTO, July 4, 2025 /CNW/ – The Canadian Investment Regulatory Organization (CIRO) is warning investors about FundsDirect Inc., a fraudulent entity operating through the website [fundsdirect[.]top] that has been falsely claiming registration with CIRO while impersonating Funds Direct Canada Inc., a legitimate registered firm. Scammers from this fake entity have been contacting investors from the email address info@fundsdirect[.]top in an attempt to carry out a cryptocurrency recovery scam.

This fraudulent website also misuses CIRO’s and the Canadian Administrators’ (CSA) names and logos on its website. Investors should be aware that FundsDirect Inc. has no connection to Funds Direct Canada Inc. or to CIRO and the CSA. Its claims of registration with CIRO are entirely false.

To Protect Yourself Against Fraud: 

  • Verify the authenticity of any communication by contacting firms directly using their official website and contact details. 
  • Report suspicious activities where entities either claim to be regulated by CIRO or work for CIRO to CIRO immediately.
  • Avoid sharing personal or financial information without confirming the legitimacy of the request. 

CIRO remains committed to protecting investors and providing resources to address fraudulent activities. For more information on identifying and reporting scams, visit the CIRO website. 

Please note that investors can confirm with CIRO’s Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO. All individuals registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA). 

CIRO’s Office of the Investor provides resources to help Canadians avoid investment fraud and protect their financial well-being. See Avoiding Fraud and Protecting Your Investments on CIRO’s website for additional information. 

If you believe you have been a victim of this or a similar scam, immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre. If there are claims of CIRO regulation or the fraudster claims to work for CIRO, please also report it to CIRO.

Please direct all other inquiries to our Complaints & Inquiries team:

1-877-442-4322 (Canada/US),

800-555-2323 (Outside Canada/US),

or by completing our Secure Contact Form

About CIRO

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)

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