Paul Gordon, Senior Manager, Payments, Canadian Credit Union Association
2018 marks the 14th anniversary of Fraud Prevention Month in Canada. Organised by the Competition Bureau of Canada, this initiative brings together government agencies and financial institutions across Canada to raise awareness of financial fraud. By learning more about how fraud occurs, Canadians can be empowered to recognize, reject and report financial fraud when they encounter it.
While credit unions and other financial institutions continue to improve their technology and procedures to combat fraud, the best line of defence is a knowledgeable user. Fraud awareness is important for everyone, including businesses and organizations of all sizes and people of all ages. From January 2014 to December 2016, Canadians lost an estimated $290-million to fraudsters, who increasingly have access to new technology and global resources.
As more Canadians manage their finances online, it’s important that they are aware of the online scams that could target them.
Here are some of the highlights of this year’s campaign: