MONTREAL – The Competition Agency, in conjunction with the Better Business Bureau, Quebec-based clients group Option consommateurs along with fraud-prevention partners announced Sunday the top 10 fraud scams targeting Canadians in 2016. In terms of the number of grievances received, the hit list is as practices:

1. Employment Scam: $5.About three million lost

The most revealed scam to BBB Scam Tracker. You didn’t apply for a career you can do from home, much less get an interview. Any cheque-cashing scheme that is way too good to be true.

Advice: Do research on service repair shop before accepting a job; ignore a company of which asks you to deposit an inspection.

2. Romance Scams: $17 thousand thousand lost

Canadians give away a lot of money since they give away their paper hearts to Catphishers. Catphishing is when a good fraudster fakes an identity along with tricks someone via dating sites into a fake emotional or romance for financial gain.

Advice: Tend not to wire money to anyone you’ve never met

3. Identity theft: $11 million lost

Scammers steal any person’s identity that will secure credit cards, business financing loans and even rent house in that name.

Advice: By no means carry your Failure with you; change on the web passwords regularly.

4. Progress Fee Loan: $1.A million lost

Paying an up-front fee to secure a loan is illegal within Canada and the United states of america. These scammers prey on those who don’t be entitled to loans through reputable lenders.

Advice: Seek alternate finance options.

5. On line Purchase Scams: $8.6 000 0000 lost

Scammers have new online avenues to take your hard earned dollars and trust. Fake merchandise, goods that by no means show up, fake web pages and free trial pitfalls are everywhere.

Advice: Shop upon legitimate websites; apply third party payment portals such as PayPal.

6. Insert Fraud or “Spearphishing:” $13 zillion lost

Spearphishing is a big problem for any business community. Millions tend to be lost when fraudsters pose as organization brass and need money be born to a fake business email.

Advice:Create payment redundancies inside your organization; be attentive on any inward bound emails.

7. Binary Options Rip-off: $7.5 million lost

Big guarantees of low-risk, high returns, and also full refunds attract Canadians to take a chance. It’verts really just a strong unregulated 50/50 bet and not investment at all. Some people delay any winnings…in the event you win at all.

Advice: Recognize high risk is concerned; seek professional investment advice.

8. Fake Lottery Success: $3 million lost

If you didn’big t enter…you didn’t secure. Calls come in in any respect hours telling you you’ve won a big lottery. You just need to pay your tax or insurance coverage fee before you get your current millions. It’s too good to be legitimate.

Advice: You do not have to pay to have lottery winnings; get hold of the corporation directly.

9. Europe Revenue Agency Hoax: $4.3 million lost

While the scam is still being revealed, a crackdown on a call centre around India in 2016 has seen a dramatic decrease in the sheer number of calls targeting Canadians.

Advice: The particular Canada Revenue Business does not make harmful phone calls; the CRA is not going to request information on the phone or by contact.

10. Fake Online Recognition and Sponsored Content: Amount of Money Lost Unknown

Consumers are frequently enticed to purchase services or products based on reviews by social media influencers. Unfortunately, a lot of these reviews may not be real and the influencer may have been paid for by a company to be used as a marketing tool.

Advice: Take whatever you read online by using a grain of salt