What is it?
Fraud is the act of obtaining money, services or property by deceit. Hundreds of scams are used daily, incurring losses in the millions of dollars. Many fraud artists are well dressed, intelligent people preying on the unaware public.
Common Types
Bank Examiner:
A phony bank examiner contacts you and asks for help in catching a dishonest bank employee. You are asked to withdraw a specific amount of cash from your account so that he may check the serial numbers and return the money. After turning over your money to the examiner, you never hear from him again.
Charities.
While legitimate charitable organizations often contribute positively to the needs of the local community, many organizations pray on the compassion of citizens to effect high pressure solicitation tactics and/or fraudulent activities. Prior to contributing to a charitable organization it is incumbent upon each individual to satisfy themselves that the organization is legitimate.
Door to Door Sales:
Many door-to-door sales are not legitimate. Provincial laws protect you against quick sales at your door. Ask for identification and ask lots of questions.
Home Improvements:
All legitimate contractors are licensed. Fraudulent companies demand partial or complete payment in advance, followed by poor work or no work at all. Check with the City Licencing Department or the Better Business Bureau to be sure that you are dealing with a real or reputable contractor.
Identity Theft, Skimming and other crimes related to criminals getting your personal and banking information is the fastest growing, costliest consumer crime in North America. How fast is it growing? Exponentially – more than 100% growth year after year since about 1997 when Identity Theft and information skimming became an identified concern of law enforcement, financial institutions, the business community and us – the consumers.
Seniors Beware:
Criminals often regard older persons as easy targets. They choose seniors as they often have large sums of money because of life savings or because they can find a senior’s “soft spot”. Seniors can sometimes be lonely and looking for companionship, so they tend to let down their guard and allow people into their homes and personal lives.
Telemarketing Fraud:
Telemarketing is one of the most popular forms of fraud. The con calls using some fraudulent pitch to make you lose your money. One fraud used is the FREE TRIP scam. You will be asked to send a deposit of $70.00 or more to hold your plane ticket or to pay for the taxes. Once you have paid all the hidden costs the trip costs more than it would had you booked it through a reputable firm. Again, do not hesitate to check credentials and do a little research. Remember that it is your hard-earned money.
Banking Information
The Cnada Revenue Agency is warning people to beware of scam artists tryingto steal personal financial information with a letter purporting to be from the government. For more details, please click here.