Crime prevention organizations are working together to help people outsmart scammers in March during the 20th annual Fraud Prevention Month.
Jean Bota, president of Alberta Community Crime Prevention Association, said the focus will be on creating awareness and educating the public.
“(Fraud) happens across all communities and demographics, so as communities and businesses and residents, we must continue to be vigilant and look out for each other, reporting anything that appears suspicious or abnormal,” Bota said.
Fraudsters are becoming very sophisticated, so people should not be ashamed, she added.
“Just report it. Get it into the system. Let authorities know because you might be saving someone some grief down the road.”
On Thursday, presentations were made by the Real Estate Council of Alberta, along with Central Alberta Crime Prevention Centre, at a Red Deer & District Chamber of Commerce Lunch n’ Learn event to kick off the conversation about fraud.
Bryan Douey, communications manager with the council, agreed that fraud happens everywhere, from cities to small towns to rural areas. As it becomes more difficult to find housing, buyers can become more vulnerable to fraudsters who may offer to help them get a property through a fraudulent mortgage or other fraud scheme.
“Renters can also become more vulnerable in tight rental markets, as fraudsters take advantage of low inventory and high demand through rental scams. These scams can appear to be coming from legitimate people, with legitimate documentation, and it can be difficult for consumers to turn down an opportunity they think may solve all their housing needs,” Douey said.
Albertans can protect themselves by learning about how these frauds work. Consumer information at reca.ca/fightfraud outlines common schemes, and what consumers should look out for.
“Typically, red flags include someone your dealing with refusing to meet in person, resisting putting deals in writing, coming up with excuses to only show the outside of properties, or insisting on payment up front. If consumers see red flags, it can pay to dig a little deeper.”
Consumers should also make sure they are working with a licensed real estate or property management professional or company. The Real Estate Council of Alberta is the licensing and governing body for real estate, mortgage brokerage, property management, and condominium management professionals in Alberta. To check someone’s licence status, Find a Licensee at reca.ca.
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In 2023, Canadians lost a staggering $567 million to fraud – an increase of $37 million from 2022 and $187 million since 2021, according to the Canadian Anti-Fraud Centre, the RCMP, and the Competition Bureau.
Despite this rise in financial losses, the rate of fraud being reported remains low, with only five to 10 percent reported.
“Fraudsters and cybercriminals often operate with the confidence that they’re anonymous online and won’t be caught. But the impact that law enforcement, partners, and the public can have when working together is significant and can put a stop to more people becoming victims,” said Chris Lynam, the RCMP’s director general of the Canadian Anti-Fraud Centre and National Cybercrime Coordination Centre, in a statement.
“As fraud continues to evolve we want to remind Canadians to remain vigilant by recognizing, rejecting, and reporting fraud.”
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Last year the top three most reported types of fraud were identity fraud, service fraud, and phishing which are all designed to get people to pay or give away sensitive information like social insurance number, passwords or banking details.
The top three frauds reported that had the highest level of financial impact were investment scams, romance scams and spear phishing (when fraudsters are looking for one specific piece of information).
If someone is a victim of fraud, or knows someone who has been a victim, they should contact their local police service to report the crime and also report it to the Canadian Anti-Fraud Centre online or toll-free at 1-888-495-8501. If a financial loss did not occur, still report it to the centre.
Anyone with information about deceptive marketing practices should report it to the Competition Bureau. Reports are essential to identify links, catch criminals, and prevent further frauds.
For more information on Fraud Prevention Month, visit ised-isde.canada.ca.
szielinski@reddeeradvocate.com
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