Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Stingray Security Wins ScamShield Challenge
Cybersecurity | Oct 9, 2025
Image: Stingray Security demo image (Winner of ScamShield Challenge, Oct 2025)
Alberta’s Investor Protection Challenge Crowns Stingray Security for Advancing Real-time Fraud Prevention Innovation
On October 9, 2025, the Alberta Securities Commission (ASC) announced that Stingray Security had won first place in the ScamShield: Investor Protection Challenge, a collaborative initiative launched last year by the ASC, Edmonton Police Foundation (EPF), and Edmonton Police Service (EPS).
The challenge was created to find new ways to fight the growing problem of online crypto investment fraud. More than 30 solutions were submitted after the program’s launch in September 2024. Two concepts were chosen to move forward in January 2025, and Stingray emerged as the top solution after further testing and development.
Why The Challenge Matters
According to the ASC’s January 2025 update, more than 60% of the $309 million in investment fraud losses in 2023 were tied to crypto scams, according to the Canadian Anti-Fraud Centre. There's an urgent need for better tools and collaboration to protect investors.
See: How to Avoid Phishing Attacks on Your Crypto Wallet
ScamShield is focused on prevention and education by combining regulatory oversight, community engagement, and fintech innovation. For fintechs, investors, and digital finance leaders, the initiative demonstrates how regulators and entrepreneurs can co-create solutions that build confidence in online markets and reduce fraud risk.
Ron Anderson, CIO/CTO at the Edmonton Police Service Innovation and Information Bureau:
"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. 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."
Stingray Security’s Winning Innovation
Canadian cybersecurity company Stingray Security developed a browser-based protection tool that identifies risky website links and blocks threats in real time. The product defends users against phishing, fake investment platforms, and other fraudulent activity linked to crypto scams. It is available free of charge and can be downloaded directly from the Google Chrome Web Store. The technology uses in-browser protection to stop malicious activity before harm occurs, offering instant protection for individuals, families, or workplaces.
See: $4.3M in Crypto Scams Triggers Operation Avalanche
Ian MacKinnon, co-founder and Chief Technology Officer of Stingray Security:
“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.”
Closing Thought
Programs like ScamShield prove that regulators and entrepreneurs can collaborate to develop practical tools that deliver measurable results for investors and communities. As fraud continues to evolve, public and private cooperation will be essential to maintaining trust in digital markets and strengthening financial resilience coast to coast.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
|---|---|---|
 |  |  |
Leave a Reply