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4 Scams Quebecers Should Be Watching For According To Financial Authorities

If it looks too good to be true...
4 Scams Quebecers Should Be Watching For According To Financial Authorities
  • Due to the current situation, the Autorité des marchés financiers (AMF) is warning Quebecers of possible scams and asking everyone to be extra vigilant in the upcoming months.
  • The AMF also provided the public with five ways to avoid fraud.
  • Get more information below.

Due to everything that's currently going on in the world, the Autorité des marchés financiers (AMF) is warning Quebecers of possible scams and asking everyone to be extra vigilant in the upcoming months. According to a press release, the current circumstances are "creating a perfect environment for fraudsters." 

In an effort to help educate the public, the AMF has launched an awareness campaign to run until the end of May, with messages broadcast over the internet, radio, and TV. 

For anyone that has a phone or internet connection, you might already be bombarded with phone calls, emails, and texts for everything. 

Three fraud examples reported to the AMF recently include: 

  • Taking advantage of those who may have lost their job on sites like Facebook, LinkedIn, and Kijiji, with what looks like a legitimate position. Fraudsters then ask for personal and banking information from the target.

  • Approaching people with investment opportunities claiming to be involved with the treatment of COVID-19. These investment opportunities are usually promised as risk-free and are "once-in-a-lifetime." 

  • By preying on the financial insecurity of the times; targets may receive messages warning them about their investments or personal finances. The messages will come with a link or attachment that the fraudsters can use to obtain personal information or to install malware. 

With the latest Canada Emergency Response Benefits (CERB), the Government of Canada has also put out a warning of a popular scam.

If you receive a text message saying that you received a deposit from CERB, do not reply or click on the link — it is not a legitimate message. 

As AMF points out, if it looks too good to be true, it probably is. If it's unsolicited, be wary.

If you want to know more, check out AMF's 5 steps to avoid fraud

READ ALSO: Santé Montréal Has Released Self-Care Tips For Anyone Feeling Stressed & Anxious Right Now

If you are uncertain about an offer or think someone has tried to scam you, you can contact AMF by using the online request for information form on its website.  

To read more about these poplar scams, what you should watch for, who you can turn to for answers, or if you're just in doubt, visit AMF.

Unfortunately, while many people band together during these times, others see it as a ripe opportunity to make a quick buck and prey on the fears of the average person. 

Stay vigilant. 

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