Identity theft is one of the most common financial scams in Canada, according to a new survey from payment processing company Interac.
The report, released Tuesday, said 42 percent of respondents said they had encountered scammers posing as representatives of official government institutions.
The results show that 41% have been affected by phishing scams and 33% by scams involving fake banking, credit cards and online accounts.
Rachel Jolicoeur, director of fraud prevention at Interac, stressed that we must not forget that the criminals who engage in scams are professionals who act opportunistically.
“There’s always a call to action and a sense of urgency,” she explained of how scammers operate.
“As soon as you have this feeling, stop and pause to examine the situation closely. »
Mme Jolicoeur said people should be careful when receiving calls from people claiming to be government agents or financial advisors, or who are calling about international packages.
She also noted that clicking on the wrong link online could land you on phishing sites.
The Interac survey, which collected responses from 1,202 people online between September 28 and October 6, reveals that 53% of respondents believe that financial scams are commonplace in Canada. Four in ten people said they feared being victimized.
Scam alerts
In recent months, the federal government has issued several warnings to Canadians about ongoing scams.
The Canada Revenue Agency (CRA) has a page dedicated to nearly a dozen types of scams, such as text message scams related to paying for the Climate Action Incentive, those offering a credit for GST/HST, text message scams to access Agency accounts, and phone calls demanding payment.
“The Agency will not use abusive language or demand immediate payment over the phone,” the CRA says regarding extortion committed over the phone demanding payment.
Also given are examples of fraudulent communications by telephone, letter, email, text message and online reimbursement form.
The importance of sharing
If someone is a victim of fraud, Mme Jolicoeur reminds us not to panic. If they lose money, they can contact their financial advisor and credit bureau and consider making a police report.
She also suggested raising awareness among friends, families and extended networks, adding that criminals could use a variety of scams — trying to access money, banking credentials, personal information and details they can’t get on their own.
“Nothing is more effective than sharing this story,” said M.me Sweet heart.
Aseel El-Baba, co-founder of Mindfulness&Money and in-house financial therapist at Conscious Economics, stressed that it is also important for people to take a moment to reflect on their experience to understand what went wrong.
“Forgive yourself,” she confided. Often we are very critical of ourselves and easily get caught up in blaming ourselves. »
Mme El-Baba reported that his mother had been the victim of a fraud.
“The weeks that followed were very difficult for her emotionally,” she recalled. She blamed herself for being taken in by this scam. »