Be fraud-smart: learn how to protect yourself against fraud

(NC) – You receive a phone call or e-mail from someone who says they work for your financial institution. The caller informs you that there has been suspicious activity on your account, and asks you to confirm some personal information such as your credit card number. Later, you notice someone is making purchases on your account, leaving you financially and emotionally devastated. You have just become a victim of fraud.

That kind of fraud happens frequently in Canada. There are many other types of fraud, as well: credit card, debit card, e-mail, telephone and real estate fraud, as well as identity theft. Unfortunately, criminals invent new fraud schemes all the time, and every year, Canadians lose millions of dollars to fraud. That is why it is important that Canadians learn how to quickly recognize fraudulent behaviour and know what to do to reduce the risk of becoming victims of this type of criminal activity.

You can help avoid fraud with some simple everyday habits — such as protecting your debit card PIN at the bank machine and shredding your credit card statements before disposing of them. And most importantly, never share personal information over the phone unless you know for certain whom you are speaking with.

The Financial Consumer Agency of Canada (FCAC) has been working to educate and protect Canadians since its establishment by the federal government in 2001. Its tip sheets, publications and other resources help Canadians avoid fraud and learn about managing their finances. You can find Protect Yourself from Credit Card Fraud, Protect Yourself From E-Mail and Telephone Fraud: Phishing and Vishing, as well as many other sources of information, through moneytools.ca.

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