E-transfer scams

If the seller asks for an e-transfer before they give you anything – it may be a scam. They may call it a deposit or hold and then flee without completing the exchange.

Be cautious of any kind of prepayment.

Scammers may claim there is a problem with their e-transfer service and request you to send a new e-transfer to test the transaction.

This is a red flag. Do not proceed.

If the seller requests payment before you have received anything – this may be a scam.

Scammers often advertise items priced far below market value. This is a common red flag.

Always do your research beforehand and be price aware.

Scammers often "accidentally" overpay by cheque and ask you to send back the difference. Once the funds are returned to the scammer, they will cancel their cheque or it will bounce as insufficient funds, leaving you out the money you sent them.

Scammers also often send money, asking you to keep a percentage for yourself and transfer the rest of the money elsewhere. Once the cheque is returned as non-sufficient funds, you'll be out the money you've sent. 

Always keep your cheques in a safe and secure place. Don’t forget to properly dispose of any unused cheques that you no longer need.

When you receive a new book of cheques, always inspect them to ensure that they follow a sequential order and that none are missing. Scammers may try to steal cheques from the mail.

Scammers will often pose as CRA agents and contact victims through text or email offering a tax refund or requesting to update personal information. These requests often come with a sense of urgency. 

Scammers will try to use your fears against you and threaten serious consequences if you don't comply. Remember, the government will never threaten you with arrest or deportation for unpaid taxes. 

Just because it looks like the government, doesn't mean it is. Scammers will use convincing fake account setup pages to trick you into giving away sensitive personal information and download malware through clicking on corrupt links.

Requests for payment by gift cards or cryptocurrency should send alarm bells blaring. These untraceable forms of payment are NEVER used by the government.

The charity name, logo, and web address may resemble a well-known charity, but look out for different spelling, grammatical errors, and for uncommon domain extensions like ".cx" or ".biz", instead of more trusted domains like ".org",".com", or ".ca".

Scammers have a whole arsenal of pressure tactics they use to wear down your defences and steal your money. Get your guard up for aggressive sales tactics. Don't let anyone pressure you into giving them money. 

Beware of emails or messages from organizations you’ve never been in contact with or donated to before.

Always steer clear of unusual and untraceable ways to donate. Never make donations through pre-loaded gift cards, gift cards, crypto or wire transfers. 

Scammers will often say you need to pay for foreign taxes or legal fees before you can claim your prize or overseas inheritance. 

When you try to collect your fake winnings, scammers may ask for sensitive financial information, such as bank account details, passwords, or verification codes. Never disclose sensitive information to untrusted parties.

Always ask yourself: do you know this distant relative? If your first thought is ‘who?’, it’s probably a scam. If you have a hard time tracing them back to your family tree, do your research and ask other family members and loved ones.

If it sounds too good to be true, it almost always is. If you receive a message saying you’ve won a prize, ask yourself: did you enter this specific contest? If you don't remember, then this is a red flag that this may be a scam.

If you see a nice place with a price that’s too good to be true, it probably is. Properties priced low for in-demand areas should automatically raise a red flag.  

Most landlords ask for a deposit upfront. However, scammers may ask for money in hard-to-trace forms such as cash, cryptocurrency, or wire transfer. The safest way to pay a deposit is by cheque or Email Money Transfer (EMT).  

Scammers often illegally pull photos from authentic real estate listings. Look out for professional photography, staged homes, watermarks, or blurry photos. Mismatched windows, door frames, or flooring, are also a sign something’s amiss. 

Be on the lookout for listings with spelling, punctuation, and grammar errors, as this can be a sign of a scam. 

A message pops up, warning you about a security issue on your computer, urging you to call a phone number to resolve it. Never call a number from a pop-up window. Real security messages will never ask you to call a phone number.

Scammers call impersonating a computer technician from a well-known company. They’ll tell you they’ve found a problem with your computer. They’ll ask you to give them remote access to your computer to run a diagnostic test. 

Scammers use links in emails and pop-ups to redirect you to scammers posing as tech support agents, who then trick you into granting them remote access to your computer. 

Scammers may pressure you to send them money for their services or fake warranty programs. Watch out for requests to use non-refundable payment methods, such as gift cards, wire transfers, Email Money Transfers, or cash. 

You receive a call from someone claiming to be a government official, a bank employee, or a renowned organization.

Though caller ID may say the call is coming from your bank, scammers can use call spoofing technology to appear as anyone they like.

They link you to pending court cases, say your mobile number is being used in a crime, claim that Wi-Fi has been compromised, or make other urgent requests that require your immediate attention.

They ask you for your personal information, bank account details, and OTPs.

Keep in mind, TD will never ask to remote access your account.

They threaten to escalate matters to the police or someone of higher authority if you don’t cooperate.

Some may sound helpful and offer assistance to help you resolve the impending issues. But only if you cooperate by giving them what they need.

High-risk investments often offer higher potential returns, and lower-risk investments offer lower potential returns. When you buy investments like stocks, there’s no guarantee you’ll make money. You could even lose money if the stock price goes down.

Think about why they’re offering you a tip and how they benefit by telling you. If the hot tip is false, you may lose your money if you act on it. If it really is insider information about a public company, it may be illegal to act on it.

Scammers frequently use high-pressure tactics because they want to get your money and move on to another victim. Scammers also know that if you have time to check things out, you may not fall for the fraud.

In general, anyone selling securities or offering investment advice must be registered with a securities regulator in a province or territory.

Romance scammers will be quick to “fall in love” and profess their love. Their goal is to manipulate the victim emotionally as quickly as possible, before the victim realizes they’re being scammed. They may also propose marriage very quickly.

These scammers will often impersonate someone else and may only have one or two images of the person they’re impersonating.

They also may include images on their profiles that show only a portion of their face.

Common reasons romance scammers provide when they ask for money:

• Travel expenses
• Medical bills or other emergency expenses
• Get out of debt to start a “new life” with you

They will often create a sob story to manipulate their victims into sending money.

Romance scammers usually use fake profile images to hide their identity. They’ll continuously make promises to meet in person, even internationally.

However, they’ll have an “emergency” preventing them from travelling or meeting you.

You may receive a tempting offer for a job that comes with a high salary, but vague details. If you apply, you may find the "employer" asking you to pay fees or reveal sensitive details.

Scammers trying to access your information often request personal details, like proof of residence or financial statements, upfront.

Legitimate companies typically don't require this information until the interview or onboarding phase.

Since almost anyone can open and operate a social media account or website, scammers commonly create online platforms for made-up employers or fake channels for real companies. These channels typically have little-to-no information about the company.

A scam caller tends to call persistently, trying to pressure you into accepting what they're offering. Often, they’ll claim you may lose the opportunity to apply for a job if you don't immediately respond or agree to the terms.

The caller will claim to be in trouble and will request money right away. They may say they were in a car accident with a rental car or they were arrested and jailed in another city or country. The “grandchild” will ask the victim to not tell anyone.

A senior or family member will receive a phone call from the scammer impersonating a loved one in trouble.

The scammer will claim to be at risk or in an emergency. To make the story seem more credible, the caller might also put another person on the phone to act like a police officer, bail bondsman or lawyer.

The victim will wire money from their bank to the “grandchild”. It’ll be sent through a money transfer service (i.e., Western Union) where it can be picked up at any international location. The scammer may also arrange for a courier to get the money.

Scammer will call and pretend to be a bank employee from the fraud department. They’ll try to convince the victim to give them their banking information to gain access to the victim's accounts.

Fraudster provides their name and a phony employee number and tells the victim either that their accounts have been compromised, or that the bank is investigating a series of fraud cases that have been committed by staff at the individual’s branch.

The scammer asks the victim to help with a fictitious law enforcement investigation into a fraud case. Insisting on keeping it secret from branch staff and loved ones. They’ll often request your PIN, password or OTP (One-time password) as well.

Scammers may “deposit” money into their victim’s account but use cash advances from the victim’s credit cards. Then, they ask for the money to be sent back for investigation.

They may ask victims to buy gift cards and share the activation code.