"RRSP fraud with an "open" account refers to a scam where a fraudster deceives someone into opening a new RRSP account, often by promising high returns or claiming special access to investments, with the intent to then misappropriate the funds deposited into that account for their own benefit, leaving the victim with little to no retirement savings. The term "open" account means that the scammer treats the RRSP as "open" to him; the scammer to take whatever he would like from the account and then report it to the client as a loss but the money went to his own personal holdings. Is this a popular fraud with Dejardin RRSPs? Maybe you sent a complaint to the FCAC? Have they tried to defraud your family?

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 "RRSP fraud with an "open" account refers to a scam where a fraudster deceives someone into opening a new RRSP account, often by promising high returns or claiming special access to investments, with the intent to then misappropriate the funds deposited into that account for their own benefit, leaving the victim with little to no retirement savings. 

The term "open" account means that the scammer treats the RRSP as "open" to him; the scammer 

to take whatever he would like from the account and then report it to the client as a loss but the money

 went to his own personal holdings.  

Is this a popular fraud with Dejardin RRSPs?  Maybe you sent a complaint to the FCAC? 

Have they tried to defraud your family?  

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Shereen Benzvy Miller is the Commissioner of the Financial Consumer Agency of Canada (FCAC). She began her five-year term on November 7, 2024. 
Responsibilities
  • The Commissioner advocates for Canadians' financial well-being and rights when accessing financial services 
  • The Commissioner reviews, monitors, and directs regulated entities to ensure they comply with their obligations 
  • The Commissioner can impose monetary penalties of up to $10 million for violations 
Role in the financial system
  • The FCAC ensures that federally regulated financial entities comply with federal legislation and regulations 
  • The FCAC promotes policies and procedures that help financial institutions comply with legislation and regulations 
  • The FCAC helps Canadians understand their rights and what to expect when dealing with financial institutions 
How to contact the FCAC 

  • Call the Consumer Contact Centre at 1-866-461-3222
  • Visit the FCAC website at www.fcac.gc.ca.





Key points about RRSP fraud with an "open" account:
  • False promises:
    Scammers might lure victims with promises of abnormally high returns, guaranteed profits, or access to exclusive investment opportunities that aren't available through traditional RRSPs. 
  • Identity theft:
    In some cases, fraudsters may use stolen personal information to open an RRSP account in the victim's name without their knowledge. 
  • Investment manipulation:
    Once the account is open, the scammer might invest the victim's money in risky or fraudulent schemes, often diverting the funds to their own accounts. 
How to identify RRSP fraud:
  • High-pressure tactics:
    If someone is pushing you to open an RRSP quickly or make large contributions without providing clear information about the investment, be wary. 
  • Unrealistic promises:
    Be cautious of any claims about guaranteed high returns or "risk-free" investments. 
  • Unfamiliar companies or individuals:
    Verify the legitimacy of any financial advisor or company offering RRSP investment options before committing. 
What to do if you suspect RRSP fraud:
  • Contact your financial institution:
    Immediately report any suspicious activity on your RRSP account to your bank or investment firm. 
  • Report to regulatory bodies:
    If you believe you've been a victim of fraud, contact the Canadian Securities Administrators (CSA) or the Ontario Securities Commission (OSC) to file a complaint. 

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