This is so pervasive that the Royal Canadian Mounted Police (RCMP) and Consumer Protection Agency have issued alerts to warn Canadians about it. One of the devious methods criminals use to get unsuspecting card holders to give up their information is the so-called “bank investigator scam”. This can include lost or stolen cards used for an in-person shopping spree and the theft of card data that can be used to create a counterfeit card or make online/phone purchases (called Card Not Present fraud). So, perhaps it should come as no surprise that in a 2021 poll, 33% of Canadians said they’d been victims of credit card fraud. And that’s just the tip of the iceberg, considering the CAFC estimates less than 5% of all fraud is reported. In 2021 alone, the Canadian Anti-Fraud Centre (CAFC) received 104,295 fraud complaints with total losses of $379 million. How to Make Your Mortgage Interest Tax Deductibleįinancial fraud is on the rise in Canada, with scammers finding new ways to take advantage of our collective trusting nature.Should I Use a Personal Loan to Pay Off My Credit Card Debt?.Tax Changes Canadians Need to Know About.A Look Into A Decade of Canadian Spending.Crypto Trading Tips You Need to Know About.Should I Invest During a Market Downturn?.Investment Glossary: The Terms You Need To Know.Should You Keep All Your Money In One Bank?.Is a Hybrid Bank Account Right For You?.Can You Get a Loan While Receiving ODSP?.Are Premium Cards Worth the Annual Fees?.How to Increase Your Credit Card’s Limit.How to Make the Jump From a Secured to an Unsecured Credit Card.What Credit Card Should You Have at Your Income Level?.What’s the Best Age to Get a Credit Card?.Tangerine Money-Back Credit Card Review.TD Aeroplan Visa Infinite Credit Card Review.Hotel Credit Cards That Come With a Free Night.
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