Common scams

With cyber-fraud incidents on the rise and fraudsters waging sophisticated attacks through phone, text, email, and other digital channels, it’s important to recognize the warning signs that someone is trying to scam you.

We’ve identified the most common scams that fraudsters are currently using to steal your money and personal information.

Am I being scammed?

It’s often difficult to tell the difference between a scam and an urgent request or a new opportunity. This tool will help you to determine whether or not you’re being targeted by a common scam and guide you to more information as to how to spot and avoid everyday scams.

Common Scam Identifier Tool

Common scams that target your money

Romance scam

A romance scam is a fraud scheme, generally done through social media or an online dating platform, where a scammer fakes romantic interest and develops a “relationship” with that person, ultimately scamming them for money.

Seniors and teenagers/young adults in particular are at high risk of being preyed upon in this way. While this is a growing concern, there are ways to avoid falling for this scam and things you can do to limit the consequences should you already be involved in one.

The scammers committing these cons often follow a similar pattern of behaviour. Look out for red flags, such as:

They won’t meet you in person or even in a video chat.
They profess their love and move the relationship forward very quickly.
Their online profile is bare, with very few interactions with others and few friends/followers.
There are inconsistencies between what they post on their online profiles and what they tell you.
They ask for personal or financial information or intimate photos or videos, which can later be used for blackmail.
They ask for money for things like medical bills, education expenses, phone bills so they can keep talking to you, or travel expenses so they can come see you.
They claim to be a successful investor and encourage you to invest into cryptocurrency or join a business venture with them.
Be especially wary of any urgent requests for money or if they begin to act distresses or angry to guilt you into sending money.

Set your social media accounts to private so strangers cannot access your information and attempt to message you.
Only accept friend requests and respond to direct messages from people you know and trust.
If you recently met someone on a dating site, keep all conversation on the same platform and do not overshare (for example, provide your social media account information, phone number, email etc.)
Never share intimate photos or videos or any other compromising information.
Never send money to strangers via etransfer, wire transfer or any other form of money transfer they request.
If you suspect you may have fallen for a romance scam, stop all contact immediately.
Never delete any messages and keep them for recordkeeping.

Provide your local police with as much information as possible.
Report the incident to Scotiabank (and any other financial institution you may have a compromised account with).
Immediately put a stop to any outstanding payments.
Additionally, file a report with your local anti-fraud Centre. For Canadian citizens, contact the Canadian Anti-Fraud Centre (CAFC) at 1-888-495-8501, or visit the CAFC reporting page for more information.