Scammers impersonating N.S. Securities Commission in ‘recovery’ scheme
Posted Aug 21, 2026 12:25:13 PM.
Last Updated Aug 21, 2026 12:24:50 PM.
The group responsible for regulating trade in securities in Nova Scotia was the targeted of scammers in an impersonating letter that claimed one victim.
The Nova Scotia Securities Commission (NSCC) is warning people that bad actors are attempting to manipulate the public for their own financial gain by impersonating enforcement staff.
According to the organization, one Nova Scotia resident has fallen victim to the scheme.
The resident, who was previously a victim of investment fraud, got a letter that appeared to have been signed by a NSSC staff and an employee of theFinancial Transactions and Reports Analysis Centre of Canada (FINTRAC). The letter had the NSSC logo and a fake file number, the organization detailed.
It claimed that the victim had been approved for restitution of $125,000 in their investment loss. It told the victim to transfer $10,000 to verify their account, and said the money would be returned along with their restitution payment.
“The letter was not sent by the NSSC or FINTRAC and is an attempt at a recovery scam in which scammers attempt to victimize someone for a second time by requesting payment to return previously stolen money,” NSSC said in the press release.
The organization is alerting the public that if anyone says they are a regulator or law enforcement and claim they can get stolen money back, that it is a scam.
“This is the first time we have seen NSSC and its staff be used in an impersonation scams,” a spokesperson from the NSSC said. “Other Canadian securities regulators and the CSA have been used in impersonation scams in the last few years.”
It is asking anyone that has been sent a letter making such offers to contact the NSSC at (902) 424-7768 or NSSCEnforcement@novascotia.ca.
