We have all heard about someone who has been scammed or maybe even know someone who has consequently lost money. I do not know why, but it seems that we retirees make for great targets.

There are a variety of scams and frauds occurring in Canada – with new ones invented daily. In 2021, there were 67,901 Canadian victims of fraud with financial losses of 381 million dollars. And losses are on the rise!

As of the first five months of 2022, 207 million dollars have been lost!

Here is a partial list of the Revenue Canada scams for which to watch:

⊗  Phone calls, Email and/or Mail
⊗  Pre-paid cards, Bitcoin, e-Transfer, and Payment scams
⊗  Text Messages and e-Payment Transfer scams
⊗  Text Messaging and Instant Messaging scams and
⊗  Scams aimed at newcomers to Canada
⊗  Sometimes callers claim to be from your bank or credit card company.
……Ever notice that they do not specify which bank?
⊗  Other popular callers identify themselves as being from the Canada Revenue (CRA).

For some reason, these three letters strike fear in us and we wonder why on earth would the CRA be calling us!!!

As a taxpayer, you should be cautious if you receive any communication that claims to be from the CRA and requests for personal information such as social insurance number (SIN), credit card number, bank account number, or passport number.

Scams may insist that personal information is needed so that you can receive a refund or a benefit payment. Cases of fraudulent communication could also involve threatening or coercive language to scare you into paying a false debt to the CRA.

Other communication could direct you to visit a fake CRA website where you are asked to verify your identity by entering personal information.

The CRA will NOT;

• Demand immediate payment by: e-Transfer, Cryptocurrency (Bitcoin), prepaid credit cards or cards from retailers such as iTunes, Amazon or others.
• Ask for a fee to speak with a contact centre agent.
• Use aggressive language or threaten you with arrest or sending the police; or
• Leave voicemails that are threatening or ask for personal or financial information.

If you suspect that you may be the victim of a scam or fraud or have been tricked into giving personal or financial information, contact your local police service.

To report a scam, call the Canadian Anti-Fraud Centre at:  1-888-495-8501                   

And call the CRA if any of the following occur,

1. 1. 1. 1. You think your CRA user ID or password has been compromised.
         2. You find changes you did not request to your banking, address, business or personal information.
         3. You find a benefit application made for you without your knowledge.

      Contact CRA at 1-800-959-8281
      This information was reprinted with permission from the CRA.

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  View on November 29, 2022 at 1 pmRTOERO Webinar: “Cyber Security – What You Should Know.”

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                      Check out the Gov’t of Canada’s “Little Black Book of Scams” HERE!