Financial Services Regulatory Authority of Ontario urges vigilance as fraudsters circulate fake approval letters
May 13, 2025
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The Financial Services Regulatory Authority of Ontario (FSRA) recently warned businesses and consumers to beware of fake documents after reports that fraudsters have used its identity to support scams.
According to a statement issued on March 7th, 2025, the regulator said it had recently learned that documents with its name, letterhead and logo were used to misleadingly suggest that FSRA had endorsed the release of funds between individuals.
The statement also urged anyone receiving suspicious correspondence apparently from FSRA or one of its employees to contact FSRA directly and make a report.
FSRA also offered the following tips for consumers seeking to protect themselves:
• Be skeptical: Technology has improved the ability of fraudsters to create seemingly legitimate documents from organizations like FSRA by copying logos and letterheads. Inspect them closely for spelling mistakes, inconsistencies and other clues in the use of the organization’s name, address or contact information that suggest they may not be real.
• Do your research: Before taking any action, verify the organization you are dealing with is legitimate by researching and contacting them directly to confirm that they produced the document in question.
Click on ‘More Information’ below to review the statement:
