Canada’s Financial Fraud Epidemic: How to Protect Yourself from Crooks
The Alarming Statistics
- Every year, 15 million Canadians are targeted by fraudsters, resulting in financial losses of over $450 million.
- This sobering statistic highlights the need for vigilance and awareness when it comes to protecting our hard-earned cash.
The Growing Problem of Financial Fraud
- According to experts, financial fraud is a growing problem in Canada, with criminals constantly evolving their tactics to ensnare new victims.
- But fear not - being aware of the most common frauds and scams, as well as knowing how to protect yourself, can help keep you safe from financial loss.
Identifying Fraudulent Offers or Communications
Warning Signs
- Unusual urgency or pressure to make a decision quickly
- Unsolicited offers or requests for personal information
- Poor spelling, grammar, or formatting in emails or messages
- Requests for money transfers or deposits
- Lack of transparency about the company or individual involved
Safeguarding Your Money and Financial Identity
Tips
- Be cautious when sharing personal information online or over the phone
- Verify the identity of companies or individuals before making a transaction
- Keep your financial information secure by using strong passwords and two-factor authentication
- Monitor your accounts regularly for suspicious activity
What to Do if You Become a Victim of Fraud
Action Plan
- Stay calm: Don’t panic, but take immediate action to protect yourself.
- Report the fraud: Contact the relevant authorities, such as the Canadian Anti-Fraud Centre or your local police department.
- Notify your financial institution: Inform your bank or credit card company about the fraudulent activity.
- Review and update your security measures: Take steps to strengthen your online and offline security.
Staying One Step Ahead of Scammers
- Quizzes to test your knowledge and financial habits
- Checklists and tips to remind you and your family how to avoid fraud
- An action plan outlining steps to take in order to protect yourself from financial fraud in the future