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Fraud-Related Articles

The Toronto Chapter is currently working to provide relevant articles for local fraud fighters and the GTA community. Check back often as we make updates! Have an article that should be shared? Email admin@acfe-gta.com with a link, and we will read it!

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  • Monday, October 07, 2019 1:17 PM | Anonymous member (Administrator)

    Toronto, Ontario:

    Recently, Ryan Duquette, a member of the incoming ACFE-GTA Chapter Board of Directors, and the recently appointed Senior Vice-President, Professional Development for the ACFE-GTA Chapter spoke with the CBC programme Marketplace as they investigated Tech-Support scams that are targeting Canadians.

    The Bottom Line:

    NEVER allow anyone ACCESS to your computer. NEVER!

    These callers LIE...There is NOTHING WRONG With your COMPUTER!!

    DON'T PAY ANYTHING. NO CREDIT CARD! NO GIFT CARD! NO APPLE CARD!

    HANG UP...DON"T TALK to THEM...DON'T GIVE OUT ANY INFO.

    Ryan said on his LinkedIn posting about the interview, "Education is a great method to reduce victimization and I hope this episode stops even one person from falling for this growing and popular scam. Kudos to the Marketplace team for their dedication and hard work in educating the public on scams and frauds." Ryan is a Partner with RSM Canada LLP in their Security, Privacy and Risk Consulting Practice.

    Check-out the story here: https://www.cbc.ca/news/world/tech-support-scam-india-marketplace-1.5298336

    And check-out the video here: https://www.youtube.com/watch?v=NGiznJMGM-0&feature=youtu.be
  • Monday, October 07, 2019 12:28 PM | Anonymous member (Administrator)

    Toronto, Ontario:

    The "Naked Security" Blog by Sophos has released information on a vulnerability that places most Android phones at risk.

    You can read the details here.

    However, the main point is that to ensure your Android phone is secure, you should install the latest (October, 2019) security updates from your Telecom or manufacturer as soon as they become available later this month.

    Sophos provides free anti-virus software for individual, personal home use.

    PLEASE NOTE:
    This post is NOT an endorsement of or advertisement for Sophos. The ACFE-GTA Chapter only provides information on free Fraud Prevention Resources that are available online and in the community for the benefit of our communities.



  • Wednesday, September 25, 2019 11:17 PM | Anonymous member (Administrator)

    Toronto, ON:
    The Eyeopener, one of Ryerson University's student newspapers has published an article on an alleged "Multi-Level Marketing (MLM)" scheme that is being presented to students.

    https://theeyeopener.com/2019/09/students-feel-targeted-by-multi-level-marketing-company/

    The newspaper approached the ACFE-GTA Chapter for clarification on MLM schemes and Pyramid schemes, and the Chapter was able to provide some information on what anyone should do when they are approached to invest money or participate in such schemes.

    It is important for anyone being approached to invest money in or participate in any program or scheme – the students at local universities in this case -  to do their research before signing up for any such MLM schemes.

    It is important to learn more about the company, their track record, and the products they are selling. One tool is to do an internet search with the name of individual who is approaching you, and another search on the company itself, and include words like “review,” “scam,” or “complaint.” Also, look through several pages of the search results – don’t just look at the first page. It is also helpful to look for articles about the company in newspapers or magazines that report on or are supported by the specific market segment. Things to learn include:

    • How long the company has been in business
    • Whether the company has a positive reputation for customer satisfaction
    • What the buzz is about the company and its products on blogs or websites
    • Whether the company has been sued for deceptive business practices
    • Whether the respective provincial ministry has any complaints about the company; however, a lack of complaints does NOT guarantee that a company is legitimate.

    NEVER sign a contract and NEVER pay any money during their first or second meeting with these people. AND…NEVER rush into making a decision, no matter how lucrative or time-limiting the offer may be. Remember…if it sounds too good to be true, it will NOT end well for you!

    • Obtain a copy of any agreement or contract in writing, and up-front.
    • Understand what you are being asked to join…get the compensation structure, what your costs are going to be, reliable support for the marketing claims about how much money you can make; how to get out of the contract or obligations and what it will cost to leave.
    • Avoid anything where the commission or reward for recruiting new “distributors” is more than the price of the products you are going to sell. This is a sure sign of a pyramid scheme!
    • And finally… and get some legal advice BEFORE signing or agreeing to anything.

      In the case of the local university students, perhaps a Business Law professor or Marketing professor would share their thoughts over a cup of coffee.

    Also, it is important to remember that you will most probably end up targeting your family and friends with these products or schemes.

    And, with all the levels of promoters up-the-chain, the cost to the end-user could be significantly higher than if they purchased a similar product in a retail store or online, say at Amazon…Don’t alienate your family or friends…These things also tend not to end well.

  • Friday, August 30, 2019 11:34 PM | Anonymous member (Administrator)

    Many big companies have been victimized in recent years by massive data breaches that exposed millions of customers’ personal identifiable information.

    In a 2018 Scam Report, First Orion, a US backroom technology supplier to mobile phone companies reported that nearly half of all mobile calls would be scam calls in 2019.

    And...fraudsters are now using this stolen personal data to pretend to be calling from a company you use and trust in a new, more effective scam strategy called Enterprise Spoofing. 

    As many consumers have stopped answering their phones, scammers are changing their approach. According to a recent Consumer Reports survey, 70% of consumers do not answer incoming calls from an unknown number. As a result, Enterprise Spoofing is on the rise – pretending to be a legitimate business by using software to falsely show a familiar business name and its main calling number. 

    So, if you get an unsolicited and unexpected call from what looks like your bank, credit card company, or retail shop, etc...the  best thing you can do is HANG - UP right away, and if you want to follow-up...call them back using the number you have on your OWN Statement or documentation from the firm.

    NEVER use the call-back number provided by the scammers.

    NEVER give out any personal information over the phone, in an email, or in response to a letter received in the mail - not matter how official it looks!

    ALSO, if you see an unknown call on your mobile or home phone call display, and wonder who called you...NEVER call them back. Wait until they call you back to determine if it is legitimate...but still follow the two "NEVER" rules above!

  • Monday, August 19, 2019 11:09 AM | Anonymous member (Administrator)

    The Canada Revenue Agency (CRA) has an excellent website that speaks to the various way, you as a tax-paying citizen can prevent being caught in a CRA scam.

    << Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number, bank account number, or passport number.

    These scams may insist that this personal information is needed so that the taxpayer can receive a refund or a benefit payment. Cases of fraudulent communication could also involve threatening or coercive language to scare individuals into paying fictitious debt to the CRA.

    Other communications urge taxpayers to visit a fake CRA website where the taxpayer is then asked to verify their identity by entering personal information. These are scams and taxpayers should never respond to these fraudulent communications or click on any of the links provided.>>

  • Monday, August 19, 2019 10:55 AM | Anonymous member (Administrator)

    The York Regional Police have an excellent section of their website dedicated to Fraud Awareness and Prevention.

    Check it out here.

    Additionally, here are a few general guidelines that we as citizens should consider:

    1. Nothing is free. If it sounds too good to be true, HANG-UP the phone without providing any personal information (and don't be afraid of being rude...just hang up!!

    2. Nothing is free! If it sounds too good to be true, DELETE the email without responding and never provide any personal information. Your bank or credit card firm will NEVER call you to confirm personal information.

    3. If you have CALL DISPLAY and see an unknown number, DON'T answer the call. Let it go to your voice mail and then listen to the message. The Canada Revenue Agency NEVER calls or emails you with threatening messages. Delete those voice messages and emails.

    4. Beware of paper documents you might receive in the mail, asking for confirmation of personal information. NEVER fill in forms and return them in a pre-addressed envelope.  You might want to call the organization using the phone number YOU HAVE - not the one that is one the receive document.


  • Monday, August 19, 2019 10:47 AM | Anonymous member (Administrator)

    On August 9, 2019, York Regional Police announced a $20 Million investment scheme fraud involving a firm called New Horizons Mortgage Investment Corporation.

    For more information, checkout this Global News Report.

  • Monday, August 19, 2019 10:34 AM | Anonymous member (Administrator)

    We all can agree that preventing fraud is far better than dealing with the aftermath of a fraud...whether it be in the corporate domain or that of an individual citizen.

    The Canadian Centre for Cybersecurity maintains an excellent website, where you can learn about the current cybersecurity threats to Canada, as well as gain valuable knowledge as to how you can better protect yourself.

    You might want to check it out today!

  • Thursday, August 01, 2019 12:19 PM | Anonymous member (Administrator)

    On July 29, 2019, the Privacy Commissioner of Canada announced that they have developed four new videos to help Canadians and businesses better understand and exercise their privacy rights. Check them out at:

    https://www.priv.gc.ca/en/opc-news/news-and-announcements/2019/an_190729/

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