Stingray Security named as ScamShield: Investor Protection Challenge winner

CALGARY, AB and EDMONTON, AB, Oct. 9, 2025 /CNW/ - The Alberta Securities Commission (ASC), Edmonton Police Foundation (EPF) and Edmonton Police Service (EPS), today announced the winner of the ScamShield: Investor Protection Challenge. First place has been awarded to Stingray Security, a Canadian company, for its product that identifies risky website links and blocks potential threats in real time before they can do harm.

Prompted by the devastating impacts of fraud and scams, the ASC, EPF and EPS partnered in 2024 to launch the ScamShield: Investor Protection Challenge to find new and innovative solutions to tackle online crypto investment fraud. Fraudsters use a variety of tools, like AI-driven scams, fake investment platforms, deepfake social media content, paired with psychological tactics, such as romance scams, and financial grooming to deceive investors and cause harm. The challenge received more than 30 submissions, with Stingray Security selected as one of two top concepts to move forward in development.

Stingray Security protects users beyond identifying online crypto investment scams. Using in-browser technology, it flags and blocks phishing websites, fake investment platforms, and other malicious scams in real time. Stingray Security is available free of charge and can be downloaded in the Google Chrome Web Store.

"I'm thrilled to see this innovation coming out of our Community Solutions Accelerator," said Ashif Mawji, EPF Board Member. "The ScamShield: Investor Protection Challenge highlights our commitment to combatting financial fraud and fostering safe online environments."

"Online investment scams have emerged as a preferred method for fraudsters, exploiting the public's limited experience in the fast-changing world of digital finance," said Chief Innovation and Technology Officer Ron Anderson with the Edmonton Police Service Innovation and Information Bureau. "These crimes are far from victimless – behind every fraudulent scheme are hardworking individuals whose savings have been compromised. As law enforcement, our mission goes beyond holding perpetrators accountable, we must also build public confidence in the integrity of our financial systems. The Stingray Security solution is another powerful tool that investors can use to safeguard themselves and avoid becoming victims of these devastating crimes." 

"Canadians lost approximately $310 million to investment scams in 2024, according to the Canadian Anti-Fraud Centre, and we know that the incidence of fraud is trending upward among many demographics," said Hilary McMeekin, Director of Communications & Investor Education with the ASC. "The ASC recognizes that stopping online investment fraud requires a comprehensive approach and we are pleased that Stingray Security will be another tool available to help investors spot the red flags of fraud and avoid potential harm."

"Everyone deserves to feel safe online. We built Stingray so anyone can start using state-of-the-art protection in seconds whether at work, at home, or to protect loved ones – all for free," says Ian MacKinnon, Stingray's co-founder and Chief Technology Officer. "We have heard from people who want to protect technology used by parents, grandparents and children, giving peace of mind. We have also heard from employers who want to use Stingray at work, ensuring cost-effective safety for employees without requiring technical expertise. The AI renaissance has enabled us to deliver this online safety tool, and we're going to continue to evolve to build on that protection."  

Additional resources for investors

In addition to tools like Stingray Security, the ASC's CheckFirst.ca website includes a broad range of helpful financial literacy information and resources.

Another important step investors can take to protect themselves from scams is to check that the individual, firm or platform that they plan to invest with is registered with Canadian securities regulators. Registration ensures that they are qualified to sell investments and are compliant with regulatory obligations, including investor protection measures. Checking registration is easy and free. Visit the CheckFirst website or aretheyregistered.ca.

About the ScamShield: Investor Protection Challenge partners

As part of the EPF's Community Solutions Accelerator, ScamShield put forth a challenge to innovators to develop a solution to online crypto investment fraud that would complement the work already being done by the ASC and law enforcement.

EPS and the EPF were the first to bring the Community Solutions Accelerator approach to policing in North America in 2020. The Accelerator leverages expertise, data, technology, and support from multiple sources to work collectively on challenges that have been identified by the community, social agencies, healthcare, and law enforcement.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For the Stingray Security demo video, access the link below:
https://drive.google.com/file/d/1EVfMO2OUroia98DxzImFQvC7Pif6GupP/view?usp=sharing

SOURCE Alberta Securities Commission