Protecting yourself from fraud during COVID-19

May 6, 2020

1 minute read

Safeguarding against scams can be a challenge. This is especially true during difficult periods like we are experiencing now. The COVID-19 pandemic is creating a lot of uncertainty and worry – the very things that fraudsters thrive on.

Scams can include phone calls, emails and texts that seem to be from financial institutions asking for personal or financial information. If you receive this kind of request, be cautious. Financial institutions will never ask for personal information, login credentials or account information by email or text message.

If you are suspicious about information you receive related to your banking, contact the financial institution directly before taking any action.

Here are a few more tips to help you be vigilant during this unprecedented time:

Never click on links or attachments in unsolicited or suspicious emails.
Never give out your personal or financial information by email or text.
When banking online, enter your financial institution’s website address in your browser yourself.
Beware of questionable offers related to relief measures or quick fixes. If it seems too good to be true, it probably is.
In the unfortunate event that you do experience financial fraud, it’s important to inform your financial institution immediately. You should also report the incident to your local police and the Canadian Anti-Fraud Centre by calling its toll-free line at 1-888-495-8501 or completing an online report.

Find more information on identity theft, types of fraud, and other threats or scams at canada.ca/money.

To read more articles like this, check out our Dollars and Sense page.

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