InvestSmart Montana Hotline Receives Report of an International Scam Involving Fraudulent Unclaimed Prize Awards

State Auditor John Morrison alerts Montanans to new fraud targeting the
State

State Auditor John Morrison warns
consumers to keep a watch out for a new fraud. Montanans are receiving
letters from an individual claiming to be a Promotions Manager for RBC
Financial Group in Calgary, Alberta. The letters include a check in the
amount of $3,500 drawn on a bogus bank account. The letter instructs
the recipient to deposit the check, purchase a $3,500 money order and
send the money order back to Canada in order to claim their winning
prize money of $250,000.† Upon receipt of the $3,500 money order, the
Promotions Manager promises to release the $246,500.†

When the Department attempted to contact the "Promotions Manager"
identified in the prize award letter, the man hung up the phone.†††

"They weren’t even willing to answer our questions."† Morrison reported
"The check is fake but the victim might not know it until they had
already sent a money order. That’s why we’re trying to get the word out
that this is a scam."

RBC Financial Group is one of Canada’s largest financial services
companies, employing over 60,000 people and serving more than 14
million personal, business and public sector clients through offices in
North America and 30 countries around the world.†

A Statement from RBC Financial Group said, "Please be advised that RBC
Financial Group does not operate a Prize Locator International Awards
Department or any awards-related businesses.† We take fraud seriously
and have a team of fraud experts dedicated to preventing, detecting and
investigating fraud."

"People know RBC and so they may think this letter is legitimate,"
warns Morrison "But that is just a scam artist tactic, consumers need
to investigate before they send money."

The fraud was discovered because a recipient of the bogus letter called
the new InvestSmart Montana hotline. InvestSmart Montana is the
Auditor’s new investor education program. The Office received a grant
from the national Investor Protection Trust to fund the program.
InvestSmart Montana includes an interactive website, a toll-free
number, a wide array of educational materials and also offers
InvestSmart seminars across the state.

"This Montanan thought there was something fishy going on and so they
called the hotline to check it out." Morrison said, "That’s why we have
the InvestSmart program, to provide investors the knowledge and the
tools that they need to protect themselves."

To request InvestSmart Montana’s informational packet, including the
top ten questions to ask before you invest, or to inquire about an
investment opportunity please call 1-800-603-6035. Information is also
available at http://www.InvestSmartMT.org.

People who have been contacted by the RBC Prize Awards Department or
may have information concerning this entity are urged to contact the
Investigations Unit at the State Auditor’s Office at 1-800-332-6148.

###

Media Contact:
Stacia Dahl
406-444-3152
[email protected]