When it comes to fraud, the saying goes that when it’s too good to be true, it is.
That’s what members of the Ponoka RCMP are trying to get out to the public. In conjunction with Servus Credit Union, the RCMP hosted a fraud awareness session Jan. 18 at Legacy Place in order to give senior residents the knowledge to protect themselves in case of potential fraud.
Const. Jeff Hallden and Shelley Coates, manager of corporate security at Servus, took some time to explain the different fraud types out there. Hallden started the presentation stating that seniors are found to be targeted as they tend to be trusting, making them vulnerable to culprits. While this is a generalization, Hallden provided a few examples of fraud.
Phishing: This is usually done in the form of emails where unknown suspects will send emails out looking for financially sensitive information. One example is of an email requesting bank numbers to send an unsolicited cash prize. “If you respond to these emails and provide them your information, they take your money,” said Hallden simply.
Sweepstakes lotteries: One example of this is where suspects use a household name like the Publishers Clearing House, stating there is a large cash prize. Culprits request money first to claim the prize, however, something sweepstakes lotteries do not do.
Hallden suggests there are a few warning signs to look out for any type of fraud:
• If a person is told that they won a free gift or prize.
• Having to act immediately to claim the prize.
• Having to pay a fee or to pay for shipping to get the prize.
• Asked to provide credit card number or bank details.
• Asked to donate to a well-known charity. Typically these non-profit agencies use more secure forms of fundraising.
Hallden suggested if a person becomes a victim to fraud that they should contact the police as soon as possible.
Coates added that fraud continues to be a big issue and many of the suspects most-likely don’t live in Canada. Her advice: “If it’s too good to be true, it probably is.”
Fraudsters want to be the friend of the victim; to give them a sense of trust. “These fraudsters have a great ploy in being your best friend.”
She gave the example of a Servus client, a 94-year-old woman, who was told that she had won $3 million in the Jamaican lottery. Suspects on the phone befriended the woman and ended up convincing her to give up $33,000. They did such a convincing job that the woman believed they were coming to her home to have a dinner celebration.
“They drained her, essentially, of her life savings,” offered Coates.
These unknown fraudsters can be unwavering in their dedication to exact money from victims. They will call constantly, says Coates, and if they don’t get their way, they aren’t as friendly. “It get ways more on the velocity of threats to you.”
“There’s more money to be made off a fraud than a bank robbery…and it’s faceless.”
Another scam out there is the lottery scam, local or international, where a person receives a winning notice stating they won millions of dollars. They are asked to provide bank details in the letter to claim a prize. These usually come unsolicited.
Coates suggested to watch out for the warning signs, and if a person claims to be a family member needing money, to hang up and call them at their number. The goal, she says, is to not lose out on the hard-earned money and savings built up over the years. Coates recommends a pragmatic approach and to keep the saying, “If it’s too good to be true…” in their mind.