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March is Fraud Prevention Month.

A Canada-wide crime prevention initiative and awareness campaign intended to empower Canadians with the information and resources needed to recognize, report, and stop fraud.

The introduction of the digital age and new technologies like Artificial Intelligence (AI) have revolutionized our lives. 

It has also revolutionized how fraudsters use these exciting technologies to scam businesses and consumers and separate us from our money. Avoid becoming a victim of fraud and scams by being informed and alert. Trust your instincts – they could save you from becoming the victim of fraud, scams, and identity theft.

According to Statistics Canada, fraud cases have almost doubled over the past decade, from 79,000 in 2012 to 150,000 in 2022. This increase shows that fraudsters are becoming more skilled at leveraging new technologies like AI to help them improve and refine their tactics to use technology to separate Canadians from their money. 

As we spend more time engaging online, using digital tools like Artificial Intelligence, online apps and tools, creating digital identities, and using social media to engage together in our daily lives, we need to be aware, that so too are fraudsters. 

Increasingly, these digital technologies and platforms have become major targets for cybercriminals, providing them with new opportunities to separate you from your money.

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  • If you receive a suspicious email, delete it.
  • If you question the legitimacy of a telephone call from an unfamiliar source, hang up.
  • If you get something in the mail asking you to forward personal information or credit card details, throw it in the recycling bin.
  • If you aren’t sure whether a text is real, verify the sender by contacting them using a different method.
 Learn more about (SMS) Phishing scams

Some of their tricks and tactics include:  

  • Creating more convincing email, and text messages
  • Impersonating service providers, government agencies, or financial institutions
  • Using AI technology to clone voices, alter images, and even create fake videos to spread false or misleading information.
  • Phishing and text messages might also contain malicious links, attachments, and malware.

You are not alone if you have been scammed.

Whether you are a business or a consumer, scammers and fraudsters prey on and target everyone. Never feel embarrassed, scammers are getting more sophisticated with their tactics and scams and it can sometimes be hard to detect these fraudulent activities and cybercrimes.

The Canadian Anti-Fraud Centre estimates that less than 5% of fraud victims report their experiences to law enforcement agencies in Canada.

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The Canadian Securities Administrators (CSA) warns Canadians about fraudulent “Investment groups” on social promising high returns to would-be investors  Learn more

Help law enforcement catch fraudsters and cybercriminals

By reporting a scam, you can help flag and identify emerging trends so they can warn the public, which can help prevent others from becoming victims. The Canadian Anti-Fraud Centre collects information on all frauds, scams, and identity theft, whether you suffered a financial loss or not.

If you are a victim of a fraud or scam contact:

  • The Canadian Anti-Fraud Centre at 1-888-495-8501. If you did not suffer a financial loss and are reporting a telephone, letter, or internet fraud.

  • The Winnipeg Police Service directly, non-emergency line 204-986-6222 or visit the Police Headquarters located at 245 Smith Street, to report a fraud or scam resulting in financial loss.

  • Canada’s credit reporting agencies, if you are a victim of identity theft, contact Equifax 1-800-465-7166, or Trans Union 1-800-663-9980 to to flag your account.

  • Contact the RCMP's non-emergency number at 204-843-2309 or visit the nearest Manitoba RCMP detachment nearest to you by visting: https://rcmp.ca/en/manitoba/detachments, to report a fraud or scam resulting in financial loss.

Take some time to read our asterisk blog, for these helpful fraud prevention tips from industry and risk experts.

Asterisk is Assiniboine Credit Union’s blog. Read about Money doing more™ in action, and discover why connecting your values with your finances, matters.

ACU is committed to safeguarding members

ACU is committed to safeguarding our members from becoming a victim of fraud through education, awareness, and empowerment. 
Our goal at ACU is to help our members protect themselves and their financial well-being by providing safeguards, tools, and resources to help detect, reject, and report fraud.