Scam Season, A Time To Be Aware
It’s that time of year again, it seems. The time when most Canadian taxpayers are thinking about how best to plan their personal finances before Christmas and the new year. Before the inevitable tax filings that come afterwards. It’s also an incredibly busy time of year for fraudsters. Just the other day, I myself received a call which on the call display looked to be from the Government of Canada because it was labelled “GOC-GDC” on my caller ID. That particular call display is one that shows up for CRA, Disability Services, and other perfectly legitimate government agencies in Canada. I usually get several calls from these agencies a day. This one was different. They hung up as soon as they discovered my number led to a CPA service. They did not even utter a word.
Scammers are getting sophisticated , and they know that people will act without thinking if given the right situation. Frauds like text messages about deliveries being held, Visa cards with iPhone purchases, the classic “we are a collection agency for the CRA you will go to jail if you don’t comply with us”, fake emails that look absolutely legit, calls from your cell phone provider offering you a sweet deal but then not knowing your current information.
The best defence is a good offense. Hang up and call these agencies that the callers claim to be from directly. Never confirm your address or other personal information. A true rep will always already have your information, so they may ask “are you still at 123 Xyz Road?” Or “is name@example.com still the correct email for the update confirmation”. They will not ask you how much your current cell phone or internet bill costs you. They will not force you to give an email in order to update their records. Simply respond with “I’m not sure, you should have that information if you’re calling me with an offer”. Finally, never use a single word answer if it will be “Yes”. Fraudsters can steal your identify with a good quality recording of you saying that one word as a standalone word. Instead, if you’re agreeing with callers from a company it may be prudent to instead make noncommittal noises rather than saying “yes”. For example, “mhmm” is a good one.
If you ever think you may have been a victim of one of these frauds, reach out to your bank right away. When I was postpartum and not thinking clearly, I fell for a small gift card scam myself, and I am a CPA. Now I can fully appreciate how crafty these scammers can be (my downfall scam was an eBay “buyer” scam, but I only lost $200 and it can be much worse). Never be ashamed of you get taken in. Just reach out. You’ll find that many financial advisors just like myself have more experience handling those situations than you’d think. You just have to tell us and we will help you through it all.
Keep your wits about you as tax season approaches. I’d hate for anyone else to be caught unawares, no matter the state of their physical or mental health. Let us know if we can help… we are happy to just be a listening ear who can provide resources.