Sometimes the fraud is more devious – but who are you able to blame for wanting to pay a bill? For Daria, she and 6 friends paid Bailey, a “travel hacker,” for a visit to Thailand in January 2024. A had a Clubhouse group (remember the conversation app?) and Daria and the opposite members had great suggestions from A and others get co-mods within the room. (The names have been modified since the case just isn’t yet resolved.)
The seven women paid for hotel rooms for Bailey and flew the 20-hour journey from North America to Thailand, only to search out out that Bailey didn’t join them until a number of days later. Then, to her horror, Bailey never showed up, canceled her trip two days before it ended, and never paid for the hotel with the cash paid to her by the seven women. Only one received a refund. The others made bank card chargebacks and even contacted the FBI.
It looks as if scams and phishing attacks are in all places. If they do not call or text, they’re sending you a message. On every. Singles. Platform. As I used to be writing this, I received two phone calls threatening me with the police and a text message asking me to confirm my address.
At best it’s irritating and at worst financially devastating. According to the RCMP, the Canadian Anti-Fraud Center (CAFC) received reports of victim losses totaling $531 million in 2022. That’s a 40% increase from 2021. In 2023, Canadians lost $554 million. Do you think that these numbers are big? Note that the CAFC estimates that only five to 10% of individuals report fraud.
Why do scams and phishing work on Canadians?
Why will we fall for scams, scams and phishing? Maggie Cheung, a spokeswoman for the Canadian Bankers Association, says it’s as a consequence of deception, manipulation and pressure tactics.
“Cybercriminals often exploit human psychology and the art of manipulation to intimidate, confuse or trick you into opening a malicious link or attachment or disclosing personal information through a process called social engineering,” she says.
These social engineering tactics force us to react quickly by exploiting fear (for instance, that you just owe money to the Canada Revenue Agency that should be paid to the federal government) and our urge to reply to authority. (The CEO really wants you to send the bank transfer now, and the e-mail looks real.) These pressure tactics are so sophisticated that they’re believable. That’s why The Cut’s financial author found herself Putting $50,000 in a box within the trunk of a automobile.
The most typical kinds of fraud
Anyone can develop into a victim of a scam, says Cheung. That’s since the techniques to persuade you’re complex and cybercriminals are expert at telling a believable story. Some of the more well-known scams include:
