New Brunswickers lost at least $1.4 million to financial scams last year, according to a report from the Canadian Anti-Fraud Centre.
Financial and Consumer Services Commission Chief Information Officer Jake van der Laan says the most common scams were phishing emails, and and identity theft.
“Those revolve around people clicking on emails that suggest that they’ve won something, that they need to log in to their bank account, or that something is wrong with any financial institution that they’re dealing with,” says van der Laan. “And they’re asked to verify their account or their password needs to be reset, those kinds of things.”
Van der Laan says the miscreants then proceed to use whatever information they’ve gained for a variety of nefarious deeds, ranging from stealing from your bank account, to opening lines of credit, or credit cards in your name.
Van der Laan says scammers can create sophisticated looking messages pretending to be from your bank, or the Canada Revenue Agency.
“If you have any kind of hesitancy about whether it’s legit or not, you know, call the organization directly, call the bank directly, call CRA and ask them to confirm or verify whatever communication it is that you’ve received,” says van der Laan.
He adds there is a very simple rule of thumb to follow.
“Be exceedingly skeptical and cynical about anything that promises you a benefit by telephone, or email, or even in the mail,” says van der Laan. “Think about it from the perspective of the person sending this to you, what’s in it for them, and what’s really in it for you?”
Ultimately, van der Laan says if a deal or prize, or situation seems too good to be true, it usually is.
Here were the top frauds in 2017 based on data from the Canadian Anti-Fraud Centre:
Phishing
Total New Brunswick complaints: 185
Total New Brunswick victims: 76
Reported loss: The financial loss comes after the fact if the stolen personal information is used.
Extortion
Total New Brunswick complaints: 163
Total New Brunswick victims: 12
Reported loss: $22, 513
Identity Fraud
Total New Brunswick complaints: 118
Total New Brunswick victims: 100
Reported loss: $69,310
Wire Fraud
Total New Brunswick complaints: 8
Total New Brunswick victims: 1
Reported loss: $761,902
Romance Fraud
Total New Brunswick complaints: 18
Total New Brunswick victims: 9
Reported loss: $168,184
Prize Scam
Total New Brunswick complaints: 62
Total New Brunswick victims: 15
Reported loss: $135,469
If you have further questions or wish to report a scam, click HERE.
