Important News Update Scam Alert by Entity Using Name Faith Financial Service

Posted on Tuesday May 31, 2016

Important News Update - Scam Alert by Entity Using Name “Faith Financial Service”  

 

WATERLOO, ONTARIO – May 31, 2016 – FaithLife Financial has recently become aware of a possible scam allegedly being perpetrated by an entity operating as Faith Financial Service at 565 Trillium Drive in Kitchener, Ontario. Our legal counsel has conducted a search of this entity and this business is not registered in any jurisdiction in Canada. It would appear that this entity has targeted FaithLife Financial’s legal business name in order to trade off of our sterling reputation in the financial services industry in Canada. Members and others should be aware that FaithLife Financial only operates under the legal and trade name of FaithLife Financial, currently has no subsidiaries and is in no way affiliated with this entity or any other similarly named business or entity.

 

The scam is directed to individuals who are searching for a consumer or small business loan. The above-mentioned entity solicits a cash payment from a loan applicant to cover the costs of loan insurance. However, the loan is never finalized and the loan applicant loses the upfront cash payment.

 

Please be aware that FaithLife Financial only sells insurance and investment products and is not in the business of providing consumer or small business loans. Individuals should always be suspicious of financial activities requiring an up-front cash payment in return for the promise of future cash.

 

FaithLife Financial has reported the above-mentioned entity to the Canadian Anti-Fraud Centre (CAFC), which is jointly managed by the RCMP, the Competition Bureau, and the Ontario Provincial Police. Individuals can report fraudulent activity to the CAFC by calling 1-888-495-8501 (toll free) or by accessing CAFC online at http://www.antifraudcentre-centreantifraude.ca/reportincident-signalerincident/index-eng.htm

 

FaithLife Financial Members may report to us any suspicious activity related to this entity or any other similar business by contacting:

 

FaithLife Financial Member Services

Toll Free: 1-800-563-6237
Tel: 519-886-4610

Send a message to:
member.services@faithlifefinancial.ca

 

Credentials of FaithLife Financial Representatives can be verified online at any time at: http://www.faithlifefinancial.ca/en/districtreps/districtrepsearch.aspx