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Protect Yourself

Scams & Fraud Protection

Canadians lost over $530 million to fraud in 2023. Learn how to spot scams and protect your money.

$530M+

Lost to Fraud (2023)

63,000+

Reports Filed

#1

Investment Scams

5-10%

Recovery Rate

🚨 Scammers are getting smarter every year.

They use AI, spoofed phone numbers, and sophisticated websites to trick even savvy Canadians. The best protection is knowing what to look for.

Top Scams Targeting Canadians

1. Investment & Crypto Scams

Promises of guaranteed high returns, "secret" investment opportunities, or crypto schemes.

Red flags: Guaranteed returns, pressure to act fast, unregistered investments, "too good to be true" returns.

2. CRA Impersonation Scams

Calls, texts, or emails claiming you owe taxes and threatening arrest or deportation.

Remember: The CRA will NEVER threaten arrest, demand payment by gift cards, or ask for personal info by email/text.

3. Romance Scams

Fake online relationships that eventually lead to requests for money.

Red flags: Never met in person, professes love quickly, always has emergencies needing money.

4. Phishing & Smishing

Fake emails or texts pretending to be your bank, Amazon, Canada Post, etc.

Red flags: Urgent language, suspicious links, requests for passwords or account numbers.

5. Employment Scams

Fake job offers that ask you to pay upfront fees or cash fraudulent cheques.

Red flags: Job you didn't apply for, asked to pay for training/equipment, paid by cheque before starting.

6. Rental Scams

Fake rental listings asking for deposits before you see the property.

Red flags: Price too good to be true, can't view in person, wants e-transfer deposit immediately.

Universal Red Flags

  • 🚩Pressure to act immediately ("limited time offer")
  • 🚩Requests for payment by gift cards, crypto, or wire transfer
  • 🚩Guaranteed high returns with no risk
  • 🚩Unsolicited contact (you didn't reach out first)
  • 🚩Requests for personal information (SIN, passwords, banking details)
  • 🚩Threats of arrest, deportation, or legal action
  • 🚩Something feels "off" — trust your gut

How to Protect Yourself

  1. Never give personal or financial info to unsolicited callers/emailers
  2. Verify by calling the organization directly using the number on their official website
  3. Use strong, unique passwords and enable two-factor authentication
  4. Check investment advisors on the CSA National Registration Search
  5. Monitor your credit report regularly (free through Borrowell or Credit Karma)
  6. Be skeptical of unsolicited offers — if it sounds too good to be true, it is
  7. Never send money to someone you haven't met in person

What to Do If You've Been Scammed

  1. Contact your bank immediately — they may be able to reverse transactions
  2. Report to the Canadian Anti-Fraud Centre: 1-888-495-8501 or antifraudcentre.ca
  3. File a police report with your local police
  4. Place a fraud alert on your credit file with Equifax and TransUnion
  5. Change all passwords if any accounts may be compromised
  6. Don't be ashamed — scammers are professionals. Report it to help protect others.

🍁 Canadian Pro Tip

Before investing with anyone, check if they're registered with the Canadian Securities Administrators (CSA) at aretheyregistered.ca. Unregistered "advisors" are a major red flag. Legitimate investment professionals are always registered.

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