How to recognize the warning signs of online scams

Canadians falling victim to bank investigator scam Canadians have lost more than $6 million to bank investigator scams in 2024, which has sparked calls for banks to do more to protect clients

Scams are everywhere, and they're becoming more sophisticated. From phone calls to emails and texts, fraudsters are constantly coming up with new ways to convince their targets to part with their money.

On Thursday, provincial police issued a reminder to the public about the warning signs of fraud involving online transactions and financial transfers.

Police urge residents and business owners to become aware of the red flags and to discuss these scams with others, including seniors who may be more trusting.

With online purchases becoming more common, police encourage shoppers to take a minute before buying.

"Give yourself time to complete your own search before purchasing an item online, including researching reviews of a business, or asking a family member or friend for advice," the OPP added.

Scammers often lure their targets with unbelievable prices as a way to gain access to personal information.

If the offer seems too good to be true, police say to steer clear because it usually is.

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Police warn that a common tactic is a sense of urgency. If someone insists you act immediately, they say to take a step back and think it over.

Be suspicious if you're asked to provide sensitive information, like your banking details or passwords. Legitimate businesses usually offer secure payment options and will never ask for cryptocurrencies like Bitcoin or e-transfers.

Police say to protect yourself from becoming a victim of a scam, research sellers, look up reviews and ratings and always use a secure method of payment.

It's also wise to set up a two-factor authentication for online accounts, adding an extra layer of security.

Report a suspected fraud online with the Canadian Anti-Fraud Centre or call 1-888-495-8501 or contact the local authorities or Crime Stoppers.