Saskatchewan Residents Warned About Audhjoy and T-AlphaX Scam
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a warning to residents about a new investment scam involving the website audhjoy and the app T-AlphaX. The scammers claim to be affiliated with T. Rowe Price Group, but this is not true.
According to the FCAA, the scam has been promoted through messaging and social media platforms, promising Saskatchewan residents investment opportunities in cryptocurrencies and stocks. However, 'T. Rowe Price Group USA, T-AlphaX, and audhjoy are not registered with the FCAA to trade in or sell securities or derivatives in Saskatchewan', the regulator said.
The FCAA is urging consumers to be cautious when investing, especially if they come across a company that claims to offer high returns or promises quick gains. 'Do not make investment decisions based on endorsements in online chat groups or social media,' warned FCAA securities division executive director Dean Murrison. 'It is not unusual for entities to impersonate legitimate investment firms to gain your trust.'