Payment fraud has been increasing in Canada in recent times. A recent study found that it was not just senior citizens who were falling prey to these cybercriminals, but millennials too could lose their money just as quickly. Similarly, many businesses, both small and large, are losing funds due to payment fraud.
Most of us have now learnt to deal with the usual fraudster emails, however, avoiding identity theft and fraud is becoming increasingly difficult as more personal information is available online than ever before.
From title fraud to fake investment seminars and home Improvement scams, there are several things to watch out for. Here are some of the most common ones.
Recent study by Equifax found that 50 percent of suspect and highly suspect credit application frauds in Canada in 2015 were against Millennials.
You work hard for your money, and the last thing you want is to be victimized by a con artist or financial scammer.
The Canada Revenue Agency’s snitch line has received a vast number of tips about suspected tax cheating and tax fraud cases this year. According to a report in CBC, the CRA received around 32,157 leads regarding suspected domestic tax cases in the 2017-2018 financial year. The CRA receives a similar number of tips every year according to sources.
The latest trick seems to be an authentic sounding telephone call which offers the person on the other end a chance to open a low rate credit card account.