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2 June 2020

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Beware of COVID-19 Financial Fraud

One thing is for sure, the current COVID-19 pandemic has shone a light on some of the incredible work Canadians are continuing to do to help others in need, from dedicating their time to hand-sew masks to financially helping others who are falling behind. Unfortunately, it has also unleashed a plethora of new financial scams designed to get your personal information to commit fraud with and to steal your money. Globally, there is a huge increase in fraud using COVID-19 as the cover, and Canada is no exception. The Canadian Anti-Fraud Centre has released a list* of reported financial fraud so that you can keep yourself fraud-free. **Here’s what to look out for:** • Cleaning companies offering duct cleaning services or air filters to protect from COVID-19 • Hydro/electrical power companies threatening to disconnect your power for non-payment • Centers for Disease Control and Prevention or the World Health Organization offering fake lists for sale of COVID-19 infected people in your neighbourhood • Public Health Agency of Canada giving false results saying you have been tested positive for COVID-19 and tricking you into confirming your health card and credit card numbers for a prescription • Red Cross and other known charities offering free medical products for a donation • Government departments tricking you to reveal sensitive personal and financial details • Financial advisors pressuring people to invest in hot new stocks related to the disease • High-priced or low-quality products purchased in bulk by consumers and resold for profit • Questionable offers such as miracle cures • Fake and deceptive online ads, including cleaning products and hand sanitizers It’s important that you make a point of keeping up to date about the various scams so you can better protect yourself and loved ones from falling prey. **List updated April 9th.*

Customer Alert: 
Beware of Scams

Protect yourself from fraud

We will never ask you to make a “good faith payment” in bitcoin, cryptocurrency, gift cards or other unusual payment methods in order to receive a loan approval or release of funds. If you ever receive such request, please refrain from sending money or any personal information and report the incident to the Canadian Anti-Fraud Centre using this link: https://reportcyberandfraud.canada.ca.

 

Learn more about how to protect yourself from potential fraud here.