Scammers promise to give you early access to your locked-in pension funds, or access to your RRSP, claiming there’s a legal “loophole” to avoid paying taxes or penalties.
It starts with promises like “access your RRSP tax-free” or “get an instant loan.” The scam often involves transferring your funds into a self-directed account to buy shares in a private company the scammer controls. Then they “loan” you back part of your own money and keep a big chunk as fees. In the end, the shares are worthless, your savings are gone, and you’re left with a huge tax bill because the CRA treats it as an illegal withdrawal. If you get an offer like this, check with a registered financial professional or visit the Financial and Consumer Services Commission of New Brunswick's website to confirm the person or firm is registered .