The Alberta RCMP Integrated Market Enforcement Team (IMET) is alerting the public of an online Ponzi scheme.
The scam promises individuals a return on investments made to an app which claims to use funds to purchase under-performing products on the online e-commerce site Amazon.
Police say they have 14 reports to date and victims have lost a total of $148,630.
The Canadian Anti-Fraud Centre (CAFC) has identified a nation-wide scam involving several Alberta victims called Aweunion or Awebuy. Registration for the app is advertised over social media. Individuals then invest money to be used by the app to purchase unpopular Amazon products.
Police indicate that people think they will receive a commission from their investments. However victims see little to no return and are unable to contact Aweunion administrators after investing a significant amount of their money.
They recommend that the public verify trusted charities and businesses on the Better Business Bureau website.
More information about ongoing scams can be found at the CAFC website , or by calling 1-888-495-8501.
Also, anyone who thinks they may be a victim of a scam, please report it to your local law enforcement and to the CAFC.
For more fraud prevention information, you may follow the RCMP on Facebook @RCMPinAlberta and Twitter @RCMPAlberta.