SALTZMAN: Three simple tips to ward off scammers

Stand Against Scams offers sagely advice to fight back against fraudsters

Published Oct 17, 2026  •  Last updated 22 minutes ago  •  4 minute read

A Canadian conman targeted seniors in a multi-faceted scam. Photo by file photo /Getty Images

What’s worse than Canadians losing $351 million to fraud in the first six months of 2026?

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The fact that it’s only the tip of the iceberg.

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The Canadian Anti-Fraud Centre (CAFC) estimates only 5% to 10% of victims report these crimes – meaning the real damage is likely deep into the billions.

Perhaps only a small percentage of Canadians report fraud because of shame, distrust in authorities, or the belief that reporting won’t change anything. But alerting law enforcement can make a difference, as it could help link cases, curb organized crime, protect others from financial loss, and in some instances, lead to you getting your money back.

CAFC suggests Canadians report fraud and cybercrime through online reporting on its website or by phone at 1-888-495-8501. You can also choose to submit your claim anonymously.

Canadians are also urged to report all scam attempts (even if you didn’t lose money) as the data helps law enforcement track trends and warn the public. If you’ve been the victim of financial loss, you should also report the incident directly to your local police department.

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Stand Against Scams is a national public awareness campaign launched by the Canadian Anti-Scam Coalition to protect citizens against fraud. Photo by Supplied /Canadian Anti-Scam Coalition

‘Red flags’ to watch out for

Given October is Cybersecurity Awareness Month, it’s a good time to review what to do when – not if – you’re contacted.

I like this simple three-step defense, below, as shared by Stand Against Scams, a national public awareness campaign launched by the Canadian Anti-Scam Coalition (CASC) to protect citizens against increasingly sophisticated fraud, through awareness and prevention.

Stand Against Scams is comprised of more than 50 organizations across Canada’s finance sector (including the country’s big banks), the telecom industry, tech companies, law enforcement, and government sectors.

To safeguard yourself, here are the simple three steps to follow when contacted:

STOP – Pause and think when receiving unsolicited requests for money or personal details. Because modern fraudsters exploit emotional triggers, like urgency and panic, they’re counting on frightening you, so it overrides any logic. Why would the CRA (Canada Revenue Agency) be emailing to ask you to quickly confirm your personal info?

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CHECK – Verify the communication by reaching out directly to trusted entities before taking action. For example, if someone contacts you and claims they’re from your bank, hang up and call the number on the back of your card instead. Never use the number provided by the caller or the one in a text message or email.

TALK – If you’re questioning the validity of who is reaching out to you, ask family members or friends for advice. If you fell victim, share experiences openly with others to eliminate the stigma of fraud, build collective vigilance, and report incidents directly to the Canadian Anti-Fraud Centre.

A pair from Quebec are charged with carrying out a grandparent scam in Sudbury. Photo by iStock /GETTY IMAGES

Other suggestions to protect yourself

A few other thoughts:

Create a verbal “family password” – This verifies if a loved one is really calling or messaging you with a sudden emergency (like the “grandparent scams” that continue to be effective). Ask the person reaching out to tell you the code word. They likely won’t know it!

Don’t fall for Caller ID – It’s easy for fraudsters to manipulate the name or number of the incoming call or text. With email, you can hover your mouse over the name of the sender and you’ll likely see it’s a random email address not tied to the organization they proport to be from.

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Create long and strong passwords – Not a new tip but remember never to use the same password for more than one account. If that service is breached, which happens, then the cybercriminals can cross-reference that password with other online accounts you have.

Use a password manager – Can’t remember a bunch of different passwords? Understandably. A trusted password manager app is a good idea because it lets you use strong, unique passwords for every single online account while only needing to remember one master password.

Enable multi-factor authentication (MFA) – Sometimes referred to as 2FA (two-factor authentication), this is when you need to type in your password to access an account, as well as a code pushed to your mobile device, to confirm it’s really you. Doing this on all your accounts adds a critical layer of defense beyond just a password.

Passkeys a good idea, too – You may have been seeing more about “passkeys,” which is also a good idea. This is a secure login method that replaces (or augments) traditional passwords by using your device’s built-in authentication, such as biometrics (fingerprint or facial recognition) or a PIN.

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The latest scam is ‘golden’

While not a cyber scam, the RCMP is warning Canadians about a sophisticated gold “safekeeping” con going around, where criminals impersonate bank officials and police officers to trick you into buying gold bullion and handing it over to them.

This scheme has targeted individuals across Canada, especially in Ontario and Nova Scotia, and has already cost some victims hundreds of thousands of dollars.

Nova Scotia RCMP are warning about an emerging scam that involves purchasing gold. POSTMEDIA FILE

Here’s how it works:

Scammers first contact the (potential) victim by phone, pretending to be from the fraud department of one of the major Canadian banks or the Canadian government.

They’ll explain your bank account or investments are under threat from “foreign hackers,” and so to protect the assets, you must liquidate these funds and buy gold bullion from a legitimate online Canadian dealer. If the victim pushes back, the scammer may tell you your assets can be frozen or seized, if left as-is.

Finally, there’s the “handoff,” where criminals arrange an in-person meeting. They send a courier, who flashes a phony police badge, to take possession of the physical gold under the guise of placing it in secure police storage for “safekeeping.”

You’ll never see it again.

The RCMP stresses that banks and the authorities will never ask you to buy gold or remove your money for safekeeping.

– Marc Saltzman is the host of the Tech It Out podcast and is the author of the book, Apple Watch For Dummies (Wiley)

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