Maple News reports a practical guide to help newcomers stay safe from financial fraud in Canada, a risk many managing money in a new country may encounter.
Financial fraud involves someone attempting to access your money or personal information through deception. Scammers may pose as banks, government offices, or trusted services, and unfamiliar procedures can make it harder to recognize.
Common scams newcomers may encounter include phone scams claiming to be from a government department and pressuring immediate action; rental scams with fake listings that demand upfront deposits; and frauds offering immigration or settlement services for a fee.
Simple steps to protect your information include taking a moment before replying to urgent messages; being cautious with emails and links from unknown senders; limiting how much personal data you share; verifying online security (look for https and a padlock); researching sellers and refund policies before making purchases; and using strong, unique passwords kept private.
If something doesn’t feel right, act early. Contact your bank or financial institution to secure accounts, and consider reporting the incident to the Canadian Anti-Fraud Centre and your local police. Be alert for signs that banks do not ask for sensitive information, such as passwords, PINs, or remote access.
First contact should be your financial institution; they can freeze accounts, issue new cards, and review recent activity. Official channels can also guide you on the next steps and help protect other accounts.
For newcomers, exploring newcomer-focused banking options that provide multilingual support and guidance on building credit can be beneficial. Rely on reputable institutions and official consumer resources for reliable information.