As we enter a new year, why not resolve to better protect your financial security? Financial fraud continues to be on the rise and scams have become increasingly sophisticated. Scammers continue to seek financial gain by stealing identities, accessing login details, acquiring personal financial information and obtaining funds through false pretenses. “Phishing” remains one of the most common techniques used to steal data or infiltrate an individual’s network. This is where scammers call, text/SMS, email or connect via social media to trick victims into sharing sensitive information, providing funds or clicking a malicious link that contains malware that, once downloaded, can access a device’s information. Phishing often uses mass messages that appear legitimate or from trusted sources. Here are some common email phishing scams and preventative actions. While this basic phishing information may be familiar to many, please share it with those who might need support, such as individuals who are less tech savvy or those who may be isolated.
- Payments and Memberships — These fool you into believing you have paid for a product or membership, often of substantial value, prompting you to respond. Instead, consider checking your credit card statements to see if a charge has been made.
- Expired Subscription — A sense of urgency is created to renew an expired subscription, often using malicious links that collect your financial data. Always access subscription information through the actual account using the company’s trusted website.
- Shipment Confirmation — These suggest you have a pending delivery, often requesting payment or guiding you to open a compromised link/attachment that contains malware. If you make an online purchase, always track shipping through the confirmation provided by the vendor.
- Sweepstakes Win — These promise a prize but often request you to send money or click a link to provide your information. Ask the question: did I enter the sweepstakes? If not, it’s likely a scam.
Phishing emails often use the actual logos of organizations to create legitimacy. However, a closer look may indicate the source is fake:
- Doesn’t address the individual directly (i.e., “Dear customer” or “Hello friend”)
- Contains spelling/grammar errors
- Sender’s email address is generic — always view the underlying email address/domain name to check its legitimacy
- Sender requests personal/confidential information or asks you to log in or click a provided link — reputable companies never do so via email
- Sender makes an urgent request with a deadline
- The offer sounds too good to be true
For examples, please see: https://www.getcybersafe.gc.ca/en/resources/real-examples-fake-emails
The Best Defense? Do Not Respond
If you are not certain if a message is legitimate, the best response is to not respond at all. Never share information with people you don’t know. Never click on links or download/open attachments on emails. And, never reply — even if you know the message is fake. Often s, cams are generic mass messages; by responding, you’re confirming your number/email is active/valid and you’re likely to be inundated with further communications. In any situation where you may be uncertain, consider the approach of “take five, tell two” — take five minutes to pause; then tell two people, like a friend or neighbour, who can provide perspectives. If you have been a victim, report it at:
https://www.antifraudcentre-centreantifraude.ca/report-signalez-eng.htm or
https://www.getcybersafe.gc.ca/en/blogs/reporting-spam-text-messages-7726Remember that Wellington Altus Private Wealth will never contact you via unsolicited email, text or phone call asking for sensitive information or account details. If you ever have any concerns, please contact he office.
How Are You Protecting Yourself From Fraud?
Resolve to create a strong defence against fraud. Here are some steps we can all take to better safeguard ourselves:
- Strengthen your passwords and security practices
- Stay informed about new and evolving scams. The Better Business Bureau offers a list of updated scams at: https://www.Bbb.Org/ca/news/scams
- Monitor your financial accounts regularly
- Check credit reports periodically
- Verify before you trust
- Limit personal information on social media. Avoid sharing sensitive details. Adjust privacy settings to restrict access to your data.
- Reduce your digital footprint. Close any unused or outdated accounts to lower the risk of data breaches.
