March is Fraud Awareness & Prevention Month

Stay Safe, Stay Informed!

Every March, Fraud Awareness Month shines a spotlight on one of the most pressing issues affecting Canadians—fraud. From phishing scams to identity theft, the landscape of fraud is constantly evolving. These scams can range from simple tricks to highly sophisticated schemes, and unfortunately, the fraudsters behind them are often quick to exploit new technologies and trends. In Canada, fraud affects millions, and the methods used to deceive individuals and businesses alike are becoming more sophisticated by the day.

During Fraud Awareness Month, we are reminded of the importance of staying informed and taking steps to protect ourselves, our families, and our communities from fraud.

Common Scams to Watch Out For

1. Phishing Scams Scammers send fraudulent emails or messages pretending to be from legitimate organizations, such as banks or government services. The goal is to trick you into clicking on a link that leads to a fake website where they can steal your personal or financial information.

2. Impersonation Scams Fraudsters may impersonate government officials or other trusted individuals. For example, a scammer might call you claiming to be from the CRA, threatening you with legal action unless you pay a fine immediately. They often pressure you into acting quickly to avoid a perceived consequence.

3. Online Shopping Scams Fraudsters create fake online stores or social media ads offering products at deeply discounted prices. These scams lure victims into paying for goods that never arrive, leaving them without a product and without their money.

4. Investment Scams Fraudsters may offer opportunities for “too-good-to-be-true” investments, claiming you can make quick profits with little to no risk. These scams often use high-pressure tactics to convince victims to invest money in bogus schemes.

5. Tech Support Scams Scammers may contact you claiming your computer has a virus or security issue. They offer to fix the problem for a fee, but once they gain remote access to your device, they steal personal information or install malicious software.

How to Protect Yourself

1. Be Skeptical of Unsolicited Communication If you receive an unexpected email, phone call, or text message asking for personal information or payment, always verify the source. Government agencies like the CRA or Service Canada will never ask for personal or financial details via email or text message.

2. Look for Red Flags Scammers often create a sense of urgency in their messages to make you act quickly. Be cautious of threats or promises that pressure you into making decisions on the spot, especially if the offer seems too good to be true.

3. Check Website URLs Before entering any personal information online, double-check the website URL. Look for “https://” (not just “http://”) at the start of the web address and ensure the domain name is correct. Scammers often use websites that closely resemble official sites but contain small spelling errors.

4. Use Multi-Factor Authentication Protect your online accounts with multi-factor authentication (MFA) whenever possible. MFA adds an extra layer of security by requiring a second form of verification, such as a code sent to your phone.

5. Educate Yourself and Others Fraudsters are always looking for new ways to deceive. Stay informed about the latest scams and share this information with family and friends to help protect them as well. Fraud Awareness Month is a great time to learn about the latest threats and how to recognize them.

Fraud is an ever-present threat in today’s digital age, but with the right knowledge and precautions, you can protect yourself and others. This Fraud Awareness Month, take the time to review the different types of scams that exist and educate yourself about how to spot and avoid them. Remember, the best defence against fraud is awareness—stay vigilant and stay safe!

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