The rise of online scams is a concern, in Canada impacting both individuals and businesses. As technology and the internet continue to advance scams are becoming more sophisticated and harder to spot. According to a fraud survey conducted by CPA Canada, a 46% of respondents have experienced financial fraud at some point in their lives. Most of these scams involve technology or online elements emphasizing the importance of remaining vigilant.
Key Scams Circulating in Canada
Investment Fraud
Investment fraud takes the lead as the devastating scam with losses skyrocketing from $164 million in 2021 to $308.6 million, in 2022 as reported by the Canadian Anti Fraud Centre (CAFC). Scammers frequently exploit social media platforms, emails and other online avenues to promote investment opportunities that promise returns but ultimately aim to swindle your money.
Scams Related to Online Purchases
Online purchase scams are another form of fraud affecting Canadians. These schemes revolve around websites enticing trials that wrap customers into traps and counterfeit products. Scammers may also deceive buyers into paying for items that either never arrive or fall short of the promised quality.
Beware of Employment Scams
When it comes to employment scams you need to be cautious, about job postings and emails that aim to deceive people into sharing information or paying fees for non existent jobs. These scams specifically target individuals who are desperately seeking employment and may be willing to pay fees for background checks, training or equipment.
Stay Alert for Phishing Scams
Phishing scams involve emails text messages or phone calls that try to trick people into revealing information or clicking on malicious links. These scams often masquerade as organizations in order to gain your trust.
Stay Vigilant Against Rental Fraud
Another scam worth being cautious about is fraud. Scammers use fabricated listings or emails to deceive people into paying fees for rentals that don’t actually exist. This type of scam frequently targets individuals searching for housing in high demand areas.
Protecting Yourself from Scams
To safeguard yourself from falling victim to these scams here are some recommendations;
Opt for Credit Card Payments when Shopping Online; Using a credit card provides built in fraud protection making it easier for you to dispute charges and recover your money if necessary.
Maintain a Healthy Dose of Skepticism; Always verify information and exercise skepticism when dealing with communications. Take the time to independently research job offers, investment opportunities and online purchases, before committing yourself.
Make sure to be cautious when dealing with texts and emails. It’s best not to respond to text messages from numbers or click on any links, in emails or messages.
To stay updated on the scams affecting Canadians it’s an idea to check out the Canadian Anti Fraud Centre (CAFC). They collect information, on fraud and identity theft providing resources for staying informed about current scams.
If you believe you’ve become a victim of a scam it’s important to report it to the Canadian Anti Fraud Centre. Your report can assist authorities in taking action and warning others about risks.
Remember that online scams are a concern. By staying informed and taking precautionary measures you can protect both your personal safety and financial well being.
- https://www.canada.ca/en/revenue-agency/campaigns/fraud-scams.html
- https://www.canada.ca/en/immigration-refugees-citizenship/services/protect-fraud/internet-email-telephone.html
- https://www.antifraudcentre-centreantifraude.ca/index-eng.htm
- https://www.cpacanada.ca/en/news/canada/recent-scams
- https://vancouversun.com/news/crime/top-10-scams-canada-2021-bbb
- https://ottawa.ctvnews.ca/the-top-10-riskiest-scams-for-canadians-to-watch-out-for-1.6301593
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