Watch out for scams

Did you know that identity theft is one of the fastest growing crimes in Canada? Protecting your personal information is our top priority and why we developed a new protection solution for all our members. Find out more about our personal data and identity theft protection measures.

The most profitable kind of fraud does not involve technology, which requires extensive knowledge of computers and too much preparation for a success rate of almost nil.

Instead, the fraud with the biggest payoff is of a social nature, manipulating victims instead of computer systems. Thieves gain their target's confidence and manipulate them into doing things they would not normally do.

With the exception of phishing or credit and debit card fraud (skimming), these are the main scams occurring today. Though they are not directly linked to the financial world, it is best to be aware of them so you can better protect yourself.

Pay to get credit

An exotic business opportunity

Phony job offers

Phone scams targeting seniors

In this type of scam, the fraudster:

claims to be the grandson of the person on the other end of the line or a loved one
says that he needs money immediately following an accident, trouble with the law or various problems in a foreign country

It's up to each and every one of us to protect our loved ones by telling them about this type of scam.

The fraudster's scenario

He calls an elderly person and claims to be one of her grandchildren or a loved one in need of help. He says: "Hi grandma, it's me! Do you know who this is?"
Convinced that she is speaking to one of her grandchildren or a loved one, the elderly person replies: "Yes, it's [person's first name]."

How to detect this type of scam

The fraudster:

claims to be the grandson of the person on the other end of the line, but he could also be a neighbour, friend, police officer, lawyer or doctor
claims to have been in an accident, to be in trouble with the law or to have various problems in a foreign country
explains why his voice is different by claiming to be injured or saying that the call quality is poor
says that it is an emergency
insists that it remain a secret.

Why does a person become a victim?

The fraudster uses emotional ties between him and her.
The targeted person is willing to help him.
The targeted person:
- has no time to think, she must act immediately
- does not take the time to validate the information with a loved one

Tips

Ask a few personal questions to the person on the other end of the line that only your real grandchildren or loved ones can answer: name of a parent, his or her city of birth, a unique family moment, etc.
Hang up right away if you have doubts about a call.
Validate the information with a family member or contact your caisse even if the person on the other end of the line said that your conversation must remain a secret.
Never transfer money immediately after getting a request to do so by phone.
To get psychological support, contact your CLSC.

You can also see Beware of Telephone Scams (PDF, 5.5 MB).

Have doubts about a situation?

Learn more:

Canadian Anti-Fraud Centre
Toll-free phone: 1-888-495-8501
Toll-free fax: 1-888-654-9426
Contact by email
Your local police service
AccèsD Services
Toll-free number: 1-800-CAISSES (1-800-224-7737)

Test your Web security knowledge and behaviour

In addition to the information in this section, we have added a document you can download entitled Security: Access and Payment Methods (PDF, 163 KB) or get a copy from your caisse.

Investment fraud prevention

Your advisor can help you protect your financial wealth

Before committing to a new investment opportunity, talk to your advisor about the risks involved, as well as potential gains and losses.

When in doubt, ask for detailed information and speak with your Desjardins advisor.

Are you doing business with registered professionals?

Place your trust and financial wealth in the right hands. When someone approaches you to invest in financial products, make sure you're dealing with a professional registered with Quebec's Autorité des marchés financiers (AMF) or the Ontario Securities Commission (OSC).

Check the status of a representative's licence:

A few clicks can save you a world of trouble!

Are you being offered high-yield, low-risk investments?

Many fraudsters draw your attention with high-yield investments. You may, for example, be offered a 5% monthly return—but when you take a closer look, the return on investment is in fact closer to 80% a year, a number that is, unfortunately, far from realistic.

Investments that promise high returns and low risks warrant a closer look. If you're uncertain, speak with your Desjardins advisor for a second opinion.

Did you hear about the investment opportunity from a friend, acquaintance or family member?

Many victims of fraud lower their guard when they hear about an investment from someone close to them. By the time they both discover the fraud, it's too late to find the fraudster and recover their money.

Always make sure an investment is safe and legitimate, regardless of the person who tells you about it.

Were you asked to make a payment in cash or make a cheque out to an individual?

Always transfer assets to a well-known business. That way, you can track your funds when you entrust them to a registered professional or potential business partner. Cash and personal cheques are usually the currency of fraudsters.

Is the investment a “Once in a lifetime” opportunity?

Investing under pressure is no way to do business. Fraudsters use a sense of urgency and secrecy to manipulated their victims and force them to make a decision. After all, the last thing they want is for you to consider these 5 questions and discover their true intentions.

Learn to say no and give yourself the time to do some research.