The holiday season is almost upon us and while it’s considered the “most wonderful time of the year,” it can also be the riskiest – thanks to scammers.
Unfortunately, fraudsters look to take advantage of consumers’ distractions during this busy period, with people juggling holiday shopping, package deliveries, vacations and other festivities, with a variety of scams.
“Around the holidays, Canadians need to be extra vigilant when it comes to all types of scams so they can protect themselves and loved ones. Scammers take advantage of distracted shoppers – so it’s important to be aware,” says Tammy McKinnon, SVP, Global Fraud Management at Scotiabank. “Some tips to consider are to never pick up the phone, click on links that look unusual and never share your personal information and passcodes with anyone.”
So, how can you protect yourself this holiday season? Here are some RED FLAGS and PREPARATION TIPS to keep you and yours safe this holiday season.
Red flags:
Website is missing the S in “https” in the address (https indicates the site is secure).
Deals and discounts that sound too good to be true.
Urgent messages telling you to act now.
Spelling mistakes and bad grammar.
Requests for payment in gift cards, wire transfer, or cryptocurrency.
Unsolicited packages or invoices.
QR Codes or websites you don’t recognize.
Altered or tampered physical gift cards.
Impersonation calls claiming to be a Bank Investigator asking you to provide pins, one-time passcodes or CVVs (the Bank will never ask for that information).
Preparation tips:
Activate InfoAlerts to be notified of certain activity on your accounts. Scotiabank’s Fraud Alerts will also automatically notify you of any unusual activity on your accounts.
Change your PIN and passwords regularly.
Monitor your credit score and bank statements regularly. If you notice any unusual activity, lock your card and report it immediately.
If you aren’t sure if it’s really the Bank calling, hang up and call the number on the back of your card
Remember, Scotiabank will never contact you and ask for your PIN, password, one-time verification codes or account numbers. We will never ask for you to turn over your bank cards or download third party software.
Canadian Anti-Scam Coalition
Last year, roughly $645-million was lost to fraud in Canada, according to the Canadian Anti-Fraud Centre. In 2025 so far, $544-million has been lost to fraud.
As the threat of scams targeting Canadian consumers continues to grow and become more sophisticated, Scotiabank has teamed up with the federal government, law enforcement and Canada’s major financial services, telecommunications and technology companies to form the Canadian Anti-Scam Coalition. The Coalition is Canada’s first unified cross-sector initiative to combat scams.
It was formed informally in 2024, but in September, the Coalition launched a national awareness campaign called Stand Against Scams, encouraging consumers to follow three steps to avoid being scammed: Stop, Check, Talk. The first step is to stop, and not react immediately when contacted. The second step is to check and verify whether the person reaching out is real – such as checking with friends, family, or financial services or telecom provider. Third step is to talk – reporting the scam or spreading the word about scams.
“This collective effort aims to address the growing threat of scams and enhance protection for Canadians,” said McKinnon. “As a champion of this initiative, Scotiabank is committed to leading in combating against fraud.”
