Peel Regional Police Fraud Bureau Warns Public About Online Sale of Fraudulent GICs
Region of Peel – Investigators from the Peel Regional Police Fraud Bureau are issuing a public warning regarding an emerging trend involving the online sale of fraudulent Guaranteed Investment Certificates (GICs).
Between 2022 and 2024, the Fraud Bureau received multiple complaints from members of the public who were deceived by fraudulent websites that appeared to be held by legitimate Canadian financial institutions.
In these cases, victims typically searched online for GIC investment opportunities and clicked on links directing them to counterfeit websites that closely resembled official financial institution pages. After entering their contact information, victims were solicited by individuals posing as investment advisers, using email addresses that appeared to be associated with the institution.
Victims were then provided with instructions to transfer funds, accompanied by documentation that appeared authentic. Follow-up emails confirming receipt of funds and official looking GIC certificates were also sent.
In each instance, communication eventually ceased. The provided phone numbers were no longer in service, and emails went unanswered. When victims contacted the actual financial institutions, they were informed that no such investments had been made in their names.
On Nov. 12, 2025, John Marshall, 63, of Brampton, was arrested and charged with the following Criminal Code offences related to a 2024 incident involving an intended purchase of a legitimate GIC, in which a Peel resident was defrauded of $200,000, of which $113,000 was recovered:
- Fraud Over $5,000
- Possession of Property Obtained by Crime
The Fraud Bureau encourages the public to take the following precautions:
- Verify directly: Contact the financial institution using a publicly listed phone number to confirm investment offers before sending funds.
- Check the website URL: Look for spelling errors, unusual domain extensions, or anything inconsistent with the institution’s official site.
- Avoid forwarding funds to unfamiliar recipients: Financial institutions will not require transfers to unaffiliated accounts.
- Research investment rates: GIC interest rates that appear higher than the market average may be a red flag.
Investigators are urging anyone who believes they have fallen victim to this scam to contact the Fraud Bureau at (905) 453-3311 ext. 3335.
For more information about fraud and prevention tips, please visit the Canadian Anti-Fraud Centre.
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Email: media.relations@peelpolice.ca
Phone: 905-453-2121, ext. 4027
NR: 25-307
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