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March is Fraud Prevention Month — a nationwide initiative dedicated to empowering Canadians with the knowledge and tools they need to strengthen their fraud defences and stay one step ahead of criminals.
At Crossroads Credit Union, protecting our members is at the heart of everything we do. All month long, we’ll be sharing fraud prevention tips across our social channels to help you stay informed, alert, and confident. Our topics will spotlight the fastest‑growing scams affecting Canadians today, including:
- AI‑powered scams
- Identity theft
- Government impersonation schemes
- Online shopping scams
- …and much more
Banking alerts provide added protection and convenience to your online banking experience. Stay informed by email or text message when an online event occurs on your accounts including:
- Your personal access code (PAC) is changed.
- Attempts have been made to access your account.
- A new bill payment vendor or e-Transfer recipient is added to your profile.
- Online Banking Account has been locked out - Incorrect response to Security Question
Click here to learn more.
A strong password provides essential protection from financial fraud and identity theft. One of the most common ways that hackers break into computers is by guessing passwords. Simple and commonly used passwords enable fraudsters to easily gain access and control of a computing device.
- Create complex passwords.
- Passwords should contain at least ten characters and have a combination of lowercase and uppercase letters, as well as numbers and special characters.
- Utilize two-factor authentication. Use passphrases (watch the video below to learn more).
- Realistic-looking videos of a public figure promoting an investment opportunity, or any other promotion they don’t normally do.
- Unusual body or lip movement in videos.
- Strange phrasing or inconsistencies, irrelevant content.
- Websites that mimic real companies.
- Unexpected phone calls or messages, especially if the sender conveys a sense of urgency, fear, or panic.
- Trust your instincts when something doesn't feel right.
- Use a family safe word.
- Hang up & call the real person.
- Slow down - urgency = red flag.
- Never share passwords, MFA codes or banking details.
- If something seems fishy, check names and logos on websites for authenticity.
- Stay informed about AI and frauds—research, read, and discuss with friends and family.
- Report suspicious websites. If you believe you’ve come across misleading AI generated content, report it to the Competition Bureau or to the Canadian Anti-Fraud Centre.
- Request for Personal Information: reputable organizations will never ask for personal information through email or text.
- Urgent Requests: Look out for messages that include a call to action and they are wanting you to respond immediately.
- Real emergencies don’t happen via email.
- Unsolicited Emails: Look out for receipts for items you didn’t purchase, updates on deliveries for things you didn’t order etc.
- Spelling/Grammar Errors that a legitimate organization would not miss.
- Suspicious Attachments that you were not expecting and didn’t ask for, weird file names and uncommon file types.
- Anything Too Good to Be True: Winning a lottery is unlikely. Winning a lottery, you didn’t enter is impossible!
- Do not click any links.
- Do not open any attachments.
- Do not reply or forward the message – Delete the email or text!
- If unsure about legitimacy – contact the company through a different channel such as the phone. Research online for the contact information; never contact them using the information received in the message!
- Guaranteed returns.
- Being moved to WhatsApp/Telegram.
- Pressure to "invest now".
- Crypto-only payments.
- Check advisor registration.
- Avoid WhatsApp/Telegram investment pitches.
- Research before sending money.
- Someone you haven’t met in person professes their love to you.
- The person wants to quickly move to a private or different mode of communication (email, text, WhatsApp, Google Hangouts etc.).
- They always have an excuse not to meet in person.
- You receive poorly/oddly written messages, sometimes even addressing you by the wrong name.
- The individual claims to live close to you but is working overseas.
- They act distressed or angry to guilt you into sending money.
- The individual discourages you from discussing them or their situation with your friends and family (attempting to isolate you from those who may be suspicious of the relationship).
- Be careful what you post and make public online.
- Trust your instincts, ask questions
- Don’t be afraid to say “NO”
- Never send money or give financial details on a dating site.
- Remember that it’s very unlikely that someone will declare their undying love to anyone after only a few letters, emails, phone calls or pictures.
- Always avoid sending money or personal information to someone you haven't met in person
- Remember, if it’s too good to be true, it is!
- Threatening or urgent messages.
- Requests for e‑transfer, crypto, or gift cards.
- Refunds offered by e‑transfer.
- Links asking you to “verify” info.
- Log in directly to CRA My Account.
- Never click links in unexpected messages.
- Call the CRA using the number on their official website.
- Send refunds by e‑transfer.
- Demand immediate payment.
- Request payment by crypto, gift cards, or e‑transfer.
- Use aggressive or threatening language.
- Register for Autodeposit – Automatically deposit funds into your account to remove the risk of criminals intercepting the notification email.
- Use answers that are not easy to guess – Ensure the answer to your security question cannot be easily guessed or found on social media. If the notification is intercepted, it will be harder for a criminal to answer and steal the funds.
- Do not include the answer to your security question in the message box – Only share the answer via a secure and different channel, such as over the phone.
- Never Click Links to accept e-transfers that you were not expecting.
- Keep Your Email Secure – Be cautious of phishing links. Don’t stay logged in when you’re away from your computer. Use strong passwords that are difficult to guess.
- Register for banking Alerts - Receive an alert when a new e-Transfer recipient has been added so you can verify this action.
- Be cautious of the information you share online, including personal identifiable information that hackers can use to access your accounts.
- Scammer will ask the victim to submit personal information, like a social security number or driver's license number, that is needed to complete their application.
- Scammer will ask the victim to provide bank account information to process their pay.
- Scammer will ask the victim to send their credit card information to pay for training or training materials that are needed as part of the job.
- Scammer will ask the victim to cash a cheque to complete the application process or as payment for their new job. The victim will be asked to send the money to a third-party or wire any excess funds back to the employer. The victim will soon find out they are involved in an overpayment scam.
- Don’t give out personal information.
- Protect your online accounts.
- Don’t be afraid to say “NO”.
- Never agree to deposit a check and wire transfer money back anyone or forward funds to a third-party.
- Be cautious when dealing with people you have only met online. If you decide to send them money use secure, traceable transactions. Do not send wire transfers, prepaid debit cards or gift cards.
A typical cheque fraud scam is where a fraudster emails you an “electronic cheque”. They tell you to take a picture of the “electronic cheque” or to print the item and then take a picture to deposit the funds electronically. They then tell you to deposit the cheque in your account using your Mobile App and then asks that you forward the majority of the funds via e-Transfer, or by purchasing gift cards or bitcoin.
An example of where this type of fraud can occur is an overpayment for something you're selling on an online site or a new online job that you have just been hired for.
Learn to Recognize the Signs:
- If it seems odd, it’s probably fraud.
- If someone you don’t know emails you a picture of a cheque, it’s a scam, contact your financial institution to verify.
- There is an immediate request to send funds back through e-Transfer, gift cards or bitcoin.
- DO NOT accept cheques sent to you via email.
- Do your research.
- Know who you are dealing with.
- IN ALL CASES ~ you get a cheque and someone asks you to send back money in ANY means, THAT’S A SCAM!
"Pig butchering" scams are long‑term fraud schemes where scammers build trust—often through social media or messaging apps—and then convince victims to invest in fake crypto or investment platforms. Once the victim deposits significant money, the scammer disappears, leaving them unable to withdraw their funds.
Red flags to watch out for:
- Seemingly accidental or mistaken contact, but the person wants to keep talking.
- Conversation turns to investments in cryptocurrency, gold markets, or forex.
- Continued, sustained contact to encourage repeat theft.
How to protect yourself: Be suspicious of any seemingly mistaken contact. This includes texts, messaging services like WhatsApp, online dating platforms, and social media. With the rise of generative AI, even "wrong number" phone calls and video calls could be pig butchering scams. These texts can be simple ("Hi."), conversational ("Long time, no see"), or even whimsical ("It's been forever since our last charity gala!"). A good rule of thumb is to never respond to any communication from a stranger. Don't even tell them they're texting the wrong number.
Be aware of fraudsters pretending to be your financial institution and asking for e-transfer URLs, “codes,” or your multi-factor authentication protection code. This is a scam! Your financial institution will never ask for this information.
Tips to Protect Yourself:
- Create strong passwords for each of your accounts.
- Set up multi-factor authentication to make it harder for others to access your accounts.
- Never share your multi-factor authentication code with anyone.
- Avoid reacting automatically. Take five minutes to ask additional questions and trust your instincts. If something doesn’t seem right, ask someone you trust.
- Do not trust the information on your call display because it can be easily manipulated.
- Do not provide your personal or financial information on demand.
Grandchild in jail? Don’t act too quickly! Emergency frauds usually target loving grandparents, taking advantage of their emotions to rob them of their money. Typically, the scam starts with a grandparent receiving a call from someone claiming to be their grandchild. The “grandchild” will say they are in trouble or have been in a car accident and they need money immediately. Take time to verify the story, call the grandchild or the child’s parents. Scammers are wanting you to react quickly, never send money to anyone you don’t know and trust!
Some scammers may be pretending to raise funds on behalf of a charity but are actually stealing your money! Donations are a vital source of funding for worthy causes and charities. As a donor, it’s important to be well-informed so you can feel confident about where your money is going. Gather as much information as possible on the organization, visit their website for annual reports, contact information, etc. Check the List of Charities on the Canada Revenue Agency website to find out if they are a registered charity.
Equifax Canada
To order your credit report or to report identity theft:
1.800.465.7166
TransUnion
1.800.663.9980