Unsolicited calls, suspicious links and surprise offers. It’s safe to say that most of us encounter more scams than we can count. Despite being everywhere, scores of people fall victim to these threats each year, regardless of their age or profession.
To help strengthen your defenses, we’ve rounded up 10 of the most common scams — along with ways to identify and outsmart them.
Scrolling on Facebook or Instagram, you suddenly get a message from a friend with an unusual link. You may be mildly curious, but whatever you do, don’t click it. Fraudulent activity is rampant on social media platforms.
Keep your social accounts private, limit the personal information you share and don’t click links unless you’re confident they’re safe. And, if someone reaches out asking to chat in return for “free” money, don’t accept it.
As an extra level of security, check pages you follow are legitimate. Un-verified pages representing large organizations or public figures can pose a risk to your account and personal information.
A pop-up appears on your computer advising you to call a phone number because it’s “infected” with a virus. Or a representative from a software company calls you out of the blue: they need remote access to urgently fix your device (and ask for payment in return). Sound familiar? Both are examples of tech support scams.
Shopping scams mimic the website of reputable companies and offer products at too-good-to-be-true prices. After a purchase is made, these companies will send you low quality or counterfeit products — or worse, nothing. They may even use your credit card information.
Always study a company’s website before making a purchase — look out for typos and URLs (secure ones will always begin with “https”). Be wary if you’re being asked for more personal information than necessary or if prices are surprisingly cheap. Finally, watch out for vendors that request payment by EFT or wire transfer.
When making purchases on Facebook Marketplace, Craigslist or Kijiji, suggest meeting at a safe place. Police stations are a great option to ensure your safety and that you’re not being duped.
Phishing emails and text messages often come from an account or phone number attempting to resemble a reputable company. They will typically try to entice you to click on a link or open an attachment, which will then infect your computer or mobile device with malware.
Scams targeting job seekers with fake offers soared during the pandemic. Victims are often told to provide personal information before an interview, such as their social insurance number. Sometimes, they’re asked for money to cover the cost of work supplies or training.
In lottery scams, victims receive a call or email saying they’ve won a prize for a draw they never entered. Typically, they will be asked to pay an up-front fee or provide personal information to receive the prize.
A grandparent scam, or emergency scam, occurs when someone calls a senior pretending to be a grandchild. They’ll indicate they’re trouble and need cash to solve the issue — and fast.
Investment scams attempt to lure people with the prospect of making huge profits, with little or no risk.
Tax fraud scams are commonplace in Canada. Thieves may reach out by phone, email or text, often using aggressive language to demand immediate payment. Some may go so far as to threaten arrest. Their payment methods of choice are often bitcoin, prepaid credit cards or gift cards.
If you find yourself a victim of a scam, please report it to the Canadian Anti-Fraud Centre.
Visit our security page for more information. If you suspect that you have been a victim of fraud where it relates to your account(s), please call our Member Advice Centre or visit your branch right away.
We acknowledge that we have the privilege of doing business on the traditional and unceded territory of First Nations communities.
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