The provincial government is warning investors of an online entity known as Atomic Trade Limited.
"Saskatchewan residents who are considering retail and DIY investment opportunities should make sure that they are dealing with legitimate entities by checking their registration status," Financial and Consumer Affairs Authority Executive Director Dean Murrison said. "It only takes a few minutes to confirm that an investment seller is appropriately registered, and it can prevent someone from falling victim to illegitimate operators."
The province said the entity claims to offer Saskatchewan residents an opportunity to invest in cryptocurrency through a website.
"Atomic Trade Limited is not registered to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses," a release from the province said.
If you have invested with Atomic Trade Limited, the province suggests contacting the FCAA's Securities Division at 306-787-5936.
The province also offered these tips:
- Always verify that the person or company is registered to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators' National Registration Search.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer.