Top scams in Canada: March is fraud prevention month
March is Fraud Prevention Month so we thought this would be a great time to bring you some of the top scams in Canada. These are the most popular and enduring scams we want to bring to your attention.
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Top scams in Canada: Our Canadian Scam Hall of Fame list
- Online Dating Scams: Are you looking for love online? If so, you’re vulnerable. According to the RCMP, in 2016, 748 victims lost over $17 million to scammers pretending to be in love. We’re sure that the number is actually greater than $17 million but most people are too embarrassed to report the crime. Scammers create fake profiles and in short order start professing their love. Most of them say they are out of the country for some reason and have an emergency that requires money. E.g. a robbery occurred and they can’t get back home. There are many ruses to get you to part with your money. Never send money to anyone you don’t know!
- Canada Revenue Agency (CRA) Scams: Tax season is upon us so no doubt the CRA scammers have kicked it into high gear. According to the Canadian Anti-Fraud Centre here are two variations of the CRA Scam currently circulating:
- You get a call from someone impersonating the CRA, claiming a recent audit has identified discrepancies from past filed taxes. They demand repayment immediately or they threaten you with extra fees and/or jail time or deportation.
- You get an email that says a refund is pending from the CRA. The email includes a link that takes you to a website that looks like the CRA site. Here’s the catch; before you can get your refund you have to give your personal information – Social Insurance Number (SIN), Date of Birth, banking information, etc. Now they can steal your identity.
- Online Shopping Scams: We’re all used to shopping online. It’s convenient and cost-effective. But, the rule here is if it seems too good to be true, it usually is. Only make purchases from trusted sites. Don’t give your credit card information to a company because they have unbelievable prices. And watch out for phishing emails advertising big bargains.
- Fake Lottery Winnings Scam: You get a call telling you that you just won a big lottery! Here’s the catch; you have to pay a tax or insurance fee before claiming your winnings. Firstly, did you enter this lottery? FYI – You never have to pay anything to receive lottery winnings.
- Pyramid Scams: Pyramid scams promise large financial returns for a very small investment. Sounds too good to be true? It is. Pyramid schemes can cost you a lot of money. After you make your investment you have to bring in other people to make their investment, and so on… There is no guarantee that you’ll ever see you investment back, let alone make a profit. And, in Canada it’s illegal to take part in a pyramid scheme.
Top scams in Canada: Things to remember
Every day fraudsters are coming up with new ways to scam you. Diligence is the key. Remember:
- If it’s too good to be true, it usually is
- Get rich quick schemes are a fast way to the poor house
- Never send money to anyone you don’t know
Top scams in Canada: What to do if you have too much debt because of being scammed or otherwise
Some Canadians have lost everything to fraudsters. If you’re experiencing serious debt issues as a result of fraud, or for any reason, you need the Ira Smith Team. We’re experts in dealing with debt. No matter how you got into difficulty we can help return you to financial well-being. Contact us today and free yourself of debt Starting Over, Starting Now.
