Financial Crime World

Preventing Financial Fraud in Canada

As Canadians, we’re constantly at risk of falling victim to financial fraud. Scammers are getting increasingly sophisticated, using government services as cover to steal our personal and financial information. But there’s hope - with some knowledge and vigilance, you can protect yourself from these nefarious schemes.

Recognizing the Signs of a Scam

Many scams attempt to imitate government services, demanding immediate payment or personal/financial information. Be wary if someone:

  • Demands immediate payment
  • Uses threatening language
  • Sends you a link asking you to click on it
  • Asks for personal or financial information
  • Requests payment by cryptocurrency or gift cards

Take a moment to ask yourself why you’re being contacted - it’s okay to ask questions and say no.

Scammers often pretend to be from government agencies, including:

  • Service Canada: SIN, EI, and passport-related scams
  • Canada Revenue Agency: Tax and benefit-related scams
  • Immigration, Refugees, Citizenship Canada: Scams targeting newcomers
  • Canada Border Services Agency: Mail package and courier-related scams

Reporting Scams

If you suspect a scam or fraud, report it to the appropriate government department or agency. For example:

  • Service Canada: Confirm if Service Canada contacted you
  • Canada Revenue Agency: Report scams and fraud, verify CRA contact
  • Immigration, Refugees, Citizenship Canada: Report scams and who to contact for newcomers
  • Canada Border Services Agency: Know when CBSA may contact you

Additional Tips

Even if you weren’t a victim of fraud, report it to the Canadian Anti-Fraud Centre (CAFC). The CAFC collects information on fraud and identity theft, helping law enforcement with investigations.

Additionally, stay informed about scams and fraud by:

  • Following tips from the Canadian Anti-Fraud Centre
  • Protecting your Social Insurance Number
  • Protecting your financial information from data breaches
  • Protecting your CRA accounts

By staying vigilant and taking these steps, you can significantly reduce your risk of falling victim to financial fraud in Canada. Stay safe!