9.4.5 Fraud prevention

From: Financial Consumer Agency of Canada

Beware of the potential for fraud whenever you talk to others about your money or your taxes.

  • Some advisors may offer to invest your money in tax-free schemes, or to move your money from a Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA) to their own investments. Before you invest, ensure that your advisor is registered with your local securities regulator and that the investment has proper documents.
  • Some scammers pretend to be tax-deductible charities to ask for your donations. Go to Canada Revenue Agency (CRA) to check all Charities Listings.
  • Some scammers send phony emails (phishing) claiming to be from the tax agency. The emails may look similar to genuine ones, but they ask you to click a web link that will take you to a site that gathers your personal information. The CRA and the Agence du Revenu du Québec do not request any personal information by email or by answering machine.
  • For details about tax frauds and how to avoid them, go to Canada Revenue Agency's information on Security. For more information and tips, see the module titled Fraud protection.
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