Be aware of fake employment offers targeting international students

Monday, November 9, 2020

The Financial Services Regulatory Authority of Ontario (FSRA) is warning the public to be cautious of offers for employment linked to the purchase of life insurance policies.

What you need to know:

  • Insurance agents may be offering false job opportunities with a requirement to first purchase life insurance
  • The scam targets international students and newcomers to Canada
  • Agents are reaching out to targets online or through social channels

What to do: 

  • Keep in mind that buying life insurance is always optional
  • Report the activity to FSRA
  • Check the Public Registry to confirm that you’re working with an agent who is permitted to sell insurance
  • Contact University of Waterloo police services or your local police department if you suspect you may be the victim of fraud or have been tricked into giving personal or financial information

FSRA will take action to enforce the applicable laws and regulations.