COVID-19: Warning of potential financial fraud

April 3, 2020

As the COVID-19 pandemic continues, fraudsters will try to take advantage of consumers. The Financial Consumer Agency of Canada (FCAC) is warning Canadians to be very cautious when receiving emails or text messages that appear to be from a financial institution asking for personal or financial information.

Financial institutions will never ask for personal information, login credentials or account information by email or text message. If you receive unsolicited or suspicious emails or text messages from a financial institution, do not click on the links or attachments. Remember: If you didn’t initiate contact with a financial institution, you don’t know who you are dealing with.

If you are suspicious about information you receive electronically related to your banking, contact the financial institution directly before taking any action.

The Canadian Anti-fraud Centre has more information on scams related to COVID-19 as well as tips to help protect you from fraud.

Find out about the current reported scams related to COVID-19.

Learn how to protect yourself when banking online.

Know what to do if you’re a victim of fraud.

COVID-19: Managing financial health in challenging times

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