The Financial and Consumer Services Commission is warning consumers to be aware of an apparent “spoofing” attempt by a scam artist claiming to be PetroChina International Co., Ltd. Spoofing, in the online world, is when someone sets up a fraudulent website (which may look substantially similar to a real company’s website) to obtain information in an effort to defraud.
Please note that: PetroChina International Co., Ltd. is the legitimate grandparent company of PetroChina International (Canada) Trading Ltd., which conducts business in Canada. In addition, PetroChina International Co., Ltd is a subsidiary of PetroChina Company Limited (the same name being used by the “spoofers”), whose stock is traded on the Shanghai, Hong Kong and New York Stock Exchanges respectively.
The scammers appear to be using a ‘spoofed’ website to contact New Brunswickers and solicit an investment relating to crude oil exports. They are also reportedly contacting individuals via telephone asking them to invest.
The fraudulent website in this situation is substantially similar to the real website of PetroChina International Co., Ltd. however, it is named PetroChina Company Limited. Due to the extreme similarities in name and website content, investors are urged to ensure they are dealing with the legitimate company before conducting any business.
The legitimate company does not conduct operations in Canada except through its subsidiaries and does not solicit investments relating to crude oil exports. The spoofers have no connection to the companies PetroChina Company Limited, PetroChina International Co., Ltd or PetroChina International (Canada) Trading Ltd.
Anyone who has been approached to invest in PetroChina Company Limited is asked to contact the FCNB toll-free at 1-866-933-2222, or through the FCNB website.
Investors are also encouraged to contact the FCNB if they have any concerns about unsolicited investment opportunities or about the legitimacy of an investment opportunity. Being an informed investor is the best defense against investment fraud. New Brunswickers are encouraged to become informed investors by using FCNB’s free online resources.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of Provincial legislation that regulates the following sectors: securities, insurance, pensions, credit unions, caisses populaires, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown Corporation funded by the regulatory fees and assessments paid by the regulated sectors. For access to our online educational tools and resources, please visit www.fcnb.ca