Vigilance remains key in fraud protection

by Samantha Ashenhurst | March 12, 2021 4:42 pm

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When it comes to fraud prevention, Canadians cannot afford to let their guard down.

This is according to Chartered Professional Accountants of Canada (CPA Canada). Coinciding with Fraud Protection Month (March), the group has published the results of its annual fraud survey.

The questionnaire, which polled more than 2000 randomly selected Canadian adults, saw nearly three quarters of respondents (73 per cent) report having received fraudulent requests, with one out of three (33 per cent) saying they had fallen victim to one or more types of fraud at some point in their life.

Fortunately, 62 per cent reported they were doing more to prevent themselves from being a victim of fraud than they were five years ago.

“Fraudsters are always looking for new ways to take advantage of unsuspecting Canadians, therefore, vigilance in protecting yourself is essential,” says CPA Canada’s financial literacy leader, Doretta Thompson. “With our lives increasingly being lived online due to COVID’s new world, it’s more important than ever for Canadians to be diligent, on alert, and safeguarding their private information.”

CPA Canada offers these tips to help avoid falling victim to fraud:

• Be careful when conducting online activities. In cases where it is necessary to provide personal information, only do so on secure websites. An easy way to check if a website is secure is by looking for the padlock icon in your web browser—if it is locked, the website is secure.
• Protect your passwords. Be sure to store passwords in a secure place and to shred all documents containing personal information.
• Do not respond to calls and texts from unrecognized numbers.
• Monitor your credit card and banking transactions. Review these records at least once a month to monitor for illegitimate activities.

For more, click here[2].

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