Stop the fraudsters: Simple tips to avoid becoming a victim
and secure password.
Never write your Personal Identification Number (PIN) on your card or keep this information in your wallet. If you use your credit card online, don’t fall for a new trick known as “continuity fraud,” where crooks trick victims into signing up for “free” items, usually after completing a survey. The fraudsters ask for credit card payment to take care of shipping, but continue charging a recurring amount to the credit card (this is usually hidden in the survey fine print).
Shred all your financial paperwork before tossing it into the recycle bin, to protect yourself from identity theft/fraud. A good portable shredder will work well for most home- and personal- shredding tasks. Shredding should eliminate the key combinations of personal information that identity thieves typically look for, such as your full name, date of birth, Social Insurance Number, address, driver’s licence number, credit card information (numbers, expiry dates and the last three digits on the signature panel), bank-account numbers and your signature.
This time of year requires a specific type of fraud vigilance: every tax filing season fraudsters use the so-called CRA scam to rip-off unsuspecting Canadians, so beware of this scheme over the next few months. With the CRA scam, you receive an email or phone call from fraudsters claiming to represent the Canada Revenue Agency. The fraudsters use various methods to deceive their targets, such as threatening serious consequences if you don’t pay taxes owed on your audited returns or they may say you have a refund and ask that you send money to them in order to receive it. Remember, if the CRA needs to contact you regarding your taxes, it will do so by registered mail and not by email or a phone call.
Investment scams continue to take different forms. Follow the basic rule for avoiding investment scams of any kind: if it sounds too good to be true, it is too good to be true. Don’t get ripped off by any investment that offers or guarantees astronomical interest rates that don’t match up with reality or typical market expectations.
If you suspect fraud, or fall victim to fraudulent activity, let the authorities know immediately. If the fraud has to do with your banking or investments, contact your financial institution.