Consumer alert: new fraud using FCAC name

The Financial Consumer Agency of Canada (FCAC) has learned of suspicious incidents involving scammers claiming to be an employee or the Commissioner of FCAC. These incidents targeted bank employees and consumers by asking for personal and financial information, and in some cases requesting payment.

Please be advised that FCAC never requests payment from individuals. FCAC does not contact Canadians directly by telephone, email, text message or fax to ask for personal or confidential information. Anyone contacted in this manner should report the incident to the Canadian Anti-Fraud Centre (CAFC), which is jointly managed by the RCMP, the Competition Bureau and the Ontario Provincial Police.

FCAC’s mandate is to strengthen the financial literacy of Canadians and supervise the compliance of federally regulated financial entities, including banks, with their legislative obligations, codes of conduct and public commitments. You can contact us by mail or telephone should you have any questions, inquiries or complaints.

Identifying fraud

Frauds are becoming increasingly sophisticated, and fraudsters are constantly coming up with new ways to steal personal or financial information and access the financial accounts of people or businesses. It can sometimes be difficult to identify the difference between legitimate requests for information from trusted organizations and scams.

Avoiding fraud is all about knowing how to recognize the signs, reject claims that seem too good to be true, and reporting scams to the appropriate authorities.  

As part of its role to protect financial consumers, FCAC provides unbiased and fact-based information and tools which includes tips to help Canadians protect themselves from financial fraud.

The Canadian Anti-Fraud Centre has more information on scams as well as tips to help protect you from fraud.

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