Nearly four in ten Canadians (37%) were targeted with a fraud attempt in the past year, according to a survey by TD Bank Group.
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The survey showed that the preferred methods of fraud would be over the phone (64%) and email or text (58%).
“As scammers continue to adapt and tweak their methods, it is essential to continue learning about protections. Speaking regularly and more openly about their experiences with scam calls or messages helps raise awareness, especially if it is with people who Trust them.Do not discuss it with those around them.
Just over a quarter of respondents (26%) said they received investment advice online on social media from people they don’t particularly know.
“Investment scams can completely disrupt the lives of victims, who are deceived into investing large amounts of money (sometimes their entire savings) in a fictitious business opportunity,” the lady said.me Leung adds that Canadians should be careful in these situations and that they should be well informed before making a financial decision.
Some tips to better protect yourself from financial fraud:
- Check if the request is legitimate: when in doubt, dial the number on the back of your debit or credit card, or consult the organization or organization’s website for real contact details;
- If someone gives you advice without even asking, beware and do your research before making a financial decision. Don’t click on a link that comes from an email address or phone number you don’t know;
- By subscribing to your organization’s free alert services, you will receive an alert if suspicious activity is detected in your bank accounts;
- If you lose your card, lock it to prevent transactions on it;
- Never share passwords and PIN, even with family members. Remember that your banking institution will never ask you for this information.
Sophie Laurent is a contributor to Vaughantoday.ca, covering a wide range of topics including local news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting that helps readers stay informed about current events and issues that matter to their communities. Sophie is committed to presenting accurate information, practical insights, and relevant stories in a straightforward and reader-friendly manner, making complex topics accessible to a broad audience.