Fairfax Financial Holdings Limited has issued a public warning to shareholders and the general public regarding fraudulent online activity targeting its chairman and CEO, Prem Watsa.
In a corporate memo, Fairfax emphasized that neither the company nor any of its executives, including Watsa, provide financial or investment advice via social media, messaging apps, or other online platforms.
The company stressed that Watsa does not maintain any personal social media accounts. It said any claims or accounts suggesting otherwise are false and potentially part of impersonation scams.
“Impersonation scams are common,” the memo stated, “and one should treat any unsolicited electronic communication that references Fairfax or Prem Watsa with extreme caution.”
The company urged individuals seeking information about Fairfax or Watsa to rely solely on official corporate channels, such as press releases, quarterly and annual reports, and shareholder meeting materials, which can be accessed on its website.
The warning reflects growing concern among Canadian firms about digital fraud and impersonation schemes, which have become increasingly sophisticated and widespread across financial and corporate sectors.
Founded in 1985 and headquartered in Toronto, Fairfax Financial Holdings Limited is a global holding company primarily engaged in property and casualty insurance and reinsurance through its subsidiaries. Its insurance brands include Northbridge Financial, Odyssey Group, Brit, Crum & Forster, and Allied World.
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