EP287 How to Protect Against Digital Fraud

Young Money with Tracey Bissett

Today we dive into the shadowy world of digital fraud and the sophisticated tactics used by scammers to lure unsuspecting victims. With March being Fraud Prevention Month in Canada, I want to emphasize the importance of being vigilant all year round to avoid falling prey to these scams.

Listen in as I share eight common signs of digital fraud that individuals should be aware of, including high-pressure sales tactics, offers that seem too good to be true, requests for personal or financial information, and attempts to keep the transaction secret. By being aware of the signs and staying informed, you can avoid falling prey to these scams and keep your personal information and finances safe.

“Staying informed and vigilant is your best protection against fraud.” - Tracey Bissett

This Week on Young Money:

• How to protect against digital fraud.
• Why we should be vigilant about protecting ourselves against fraud all year round.
• The importance of remembering that sometimes deals are too good to be true.
• Why you should never give financial information to an unknown source.
• Why we should only take financial advice from reputable sources.

Key takeaways:

1. If the offer is too good to be true, it probably is.
2. Never give financial information to an unidentified or unverified business or individual.
3. If something is made to be secret, it may not be a good thing.
4. Being guilted into a transaction is not safe.
5. Do your due diligence on the financial advice you take.
6. Be aware of links and attachments.

Resources Mentioned:

• EP130 Show Me The Fraud – Fraud Prevention Month
• EP023 How to Protect Yourself from Fraud
• EP074 How to Protect Your Business from Fraud
• EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
• EP235 How to Protect Yourself from the Romance Scam
• EP236 Good Investment or Investment Scam?
• EP237 Fun with Fraudsters
• Canadian Anti-Fraud Centre
• Financial Consumer Agency of Canada

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