Scammers are impersonating trusted institutions to trick people into handing over their money. It starts with an automated call claiming to be from your financial institution, the police, or even Amazon. You’re told your account has been compromised and asked to help with an investigation. They may show you a fake transaction, ask to remotely access your device, or request money transfers to a supposed “safe account.” In reality, they’re draining your savings or line of credit while pretending to protect it.
Some fraudsters go further, calling you to request multi-factor authentication codes sent to your phone. This code is the key they need to unlock your account Remember, this code allows you the access to change password or contact information on any online account, including your email, online banking, even your loyalty reward accounts. Others might claim they need to pick up your debit card in person. They may ask you to cut it in half “but leave the chip intact” then threaten arrest if you don’t comply.
The signs can be subtle but consistent. Real institutions never ask for access to your computer, never demand your MFA codes, and never show up at your house to collect your bank card or cash. If in doubt, hang up and call the number on the back of your card from another phone. Your best defense is skepticism and a moment to think.
If you think you have been scammed, contact your financial institution or credit card company immediately. Let them know what happened so they can secure your accounts, investigate any unauthorized transactions, and guide you on next steps. Change your online passwords, especially for banking and email, and double-check your multi-factor authentication settings all from a secure device. Report the scam to your local police and the appropriate fraud reporting center, like the Canadian Anti-Fraud Centre. You can reach the Canadian Anti-Fraud Centre by calling 1-888-495-8501. They’re available to take reports and provide guidance if you’ve been targeted or victimized by a scam. Keep any evidence, including emails, texts, screenshots, or names the scammer used. You’re not alone, fraudsters are good at what they do, and acting quickly gives you the best shot at limiting the damage.
