We have seen an uptick in money-grabbing scams during the Pandemic. As a result, we all have to be very vigilant with giving out money and our personal information now more than ever.
Text messages from the Red Cross asking if you would like free masks are a scam. Do not respond to this message. Individuals will use this as a way to get into your phone and steal your information. Delete the message and block the number on your phone.
Phone Messages from a supposed government health department calling to tell you that you have tested positive for the COVID-19 virus. This is a scam. DO NOT give out any personal information to these people. Be aware of charities popping up for COVID-19, many of these are not legitimate. You can always contact your municipal government if you would like to find legitimate charities that need your help or donation.
CRA Scams
You receive a call from someone claiming to be an officer from the Canada Revenue Agency (CRA) Federal Criminal department, notifying you that there is a warrant for your arrest regarding your back taxes. Does this sound familiar? Your first reaction is fear, panicked you ask for more information trying to remember if you could owe taxes. Do not provide any information over the phone, the CRA already has your information and there is no need for them to ask you for it. If you are concerned that the phone call was not a scam, contact the CRA yourself to check on your account.
Lottery Scams
Hearing “YOU WON!” on the other end of the phone as exciting as it may sound, legitimate lottery winners DO NOT have to supply their banking information to receive their winnings. Unfortunately, these scammers prey on the most vulnerable people the elderly and lower-income families. Giving out your banking details provide hackers with all the ammunition they need to drain your bank account.
Loan Scams
Scam artists take advantage of people when they are in desperate need of money or people trying everything to boost their credit score. Here are a few Red flags to watch out for when trying to determine if the company is legitimate:
Upfront Fees – If you are asked to send money before the company performs a service this is a red flag. Legitimate lenders must disclose all fees; typically those fees are rolled into the loan, not paid in advance.
Wire Transfers – Never wire funds to an individual. Always ask for the physical address and research to determine if they are legit.
No Interest in Your Credit History – Legitimate lenders evaluate a person’s creditworthiness BEFORE setting up a loan. If no questions are asked about your credit history it is most likely a scam.
Personal Information – Personal information like your social security number, date of birth, bank information, and any other personal information can be used to steal your identity. Make sure to research the company thoroughly to ensure that they are a legitimate business before giving this information. Common things to help you spot a fraudulent business are emails with errors in spelling, capitalization, punctuation, and/or grammar mistakes. Be wary if the company offers you a free year with no payments or if they do not use credit checks or credit history for approval.
Reviews – Look at the company reviews and read through them, check the company’s website making sure they have an online presence. Remember to protect yourself and your information.
Social Media Scams
By their very nature, social media sites make it easy for us to stay in touch with friends while reaching out to meet new ones. But how well do you know these new acquaintances? That person with the attractive profile picture who just friended you and suddenly needs money is most likely a scammer seeking easy cash. Think twice before acting.
Other social media scams involve Malware hacks. You just received an urgent request from a close friend who “lost his wallet on vacation and needs some cash to get home.” So, being the helpful person, you are, you send some money right away, per his instructions. But there’s a problem: Your friend never sent this request. He isn’t even aware of it. His malware-infected computer grabbed all his contacts and forwarded the bogus email to everyone, waiting to see who would bite.
Again, think before acting. Call your friend to confirm the story.
Protecting yourself starts with taking the time to think about what is happening, ask yourself “does this seem right”? If it sounds too good to be true chances are that you’re right. Protecting yourself and your information is your number one priority.
If you feel that you might be a victim of fraud check with the credit bureau. The following link will take you to the major credit reporting agency:
https://www.equifax.com/personal/education/identity-theft/fraud-alert-security-freeze-credit-lock/
Remember: Always protect your personal information.
