There are many types of fraud and scams that you will come across in your life. As a student, you may be more exposed to certain tactics. The best defence against fraud is to be knowledgeable and aware of these situations. Here are some general tips:
Share your personal information only with companies you know and trust.
Do not provide personal information to solicitors who made the initial contact.
Check your credit report once a year.
If it seems too good to be true, then it probably is!
Old statements, bills and credit/debit cards should be shredded before you dispose of them.
Don’t be pressured by offers that are “available for a limited time only!”
Scammers will pose as a financial institution and ask you to disclose personal or financial information over email. The email may appear legitimate and mention that there’s been a security breach. These emails will include links to provide your information.
Tips
Banks and governments will never ask for your personal information through email.
If you are unsure of the legitimacy, search the message for bizarre links or email addresses.
Do not reply to or open links from a suspected scammer.
Believe it or not, pyramid schemes still exist in this day and age. As a student, you may be able to identify these scams as job postings that “could earn you hundreds of dollars a day!” and you will be asked to sell a product or service. You will then be required to pay a membership fee to cover the cost of the product you’re selling. The only way you can recoup these costs is to sell the product to others.
Tips
Conduct thorough research on the company.
Be wary of companies that offer compensation for recruiting new salespeople.
Do not commit to anything at high-pressure meetings or seminars.
That contest you never entered just called and offered you a trip to the Caribbean! Must be legitimate, right? It’s not. This tactic is similar to phishing, but it’s conducted over the phone instead of email. The scammer will ask for personal or financial details in order for you to claim your prize.
Tips
Legitimate lotteries and contests do not require you to pay a fee to collect winnings.
You cannot win a contest you did not enter.
Do not call or text the scammers to follow up. You could be charged up to $5 per minute/text!
This type of scam may appear to be the most legitimate of all the ones we have mentioned so far. The scammer will ask you to purchase or upgrade a home service. You can encounter this scam in the form of a door-to-door “salesperson.” Most commonly, they will ask to view your water heater bill or to perform a routine check-up of your heater. Alternatively, you may get a phone call from a computer technician who claims they noticed a virus on your computer. They may ask you to buy antivirus software or, even worse, try to gain remote access to your computer.
Tips
Do not discuss your services with a salesperson that represents a different service provider.
Do not be fooled into letting the solicitors into your home because of “recent regulatory changes.”
These scams involve threatening and forceful messages to pay a fictitious debt. Scam callers often threaten that you’ll be arrested, have to go to court and even get deported. If you get a scam telephone call, hang up and report it to the Canadian Anti-Fraud Centre (1-888-495-8501).
Reminder
The Canadian Revenue Agency (CRA) will never:
Call you to ask for credit card payment toward taxes.
Call you to ask for any personal information like your SIN, passport or driver’s license number.
Fraudsters are constantly inventing new schemes to take your information. In general, debit and credit card fraud occurs when your information is stolen and used to make a purchase without your authorization.
Tips
Change your bank passwords on a regular basis.
Do not store your credit card information on the computer.
Always review your bank and credit card statements for suspicious activity.
Check your credit report through the Credit Bureaus, Trans Union and Equifax at least once a year.
These scams are on the rise, targeting individuals who qualified for the Canada Emergency Response Benefit (CERB) and Canada Emergency Student Benefit (CESB). These scams will ask you to repay the benefits. Other scams include attempts to sell health products and disinfectants that will protect you against COVID-19.
Tips
Service Canada will not contact you by email or text to request personal information or credit card payments toward excess benefits.
When in doubt, hang up and call Service Canada directly at 1-800-622-6232.
For information on recent COVID-19 scams, visit Get Cybersafe.
Romance scammers typically find and connect with individuals on social media or a dating website. The scammer will try to develop a relationship, even spending several months to make the other person feel like they’re dating. Be careful if your love interest moves too fast, avoids communication because they’re “out of town” or requests money.
Tips
Stop communication with the person immediately.
Talk to someone you trust, and pay attention if your friends or family are concerned about your new love interest.
Do a search for the type of job the person has to find out if other people have experienced something similar.