According to the federal government, telemarketing fraud costs
Canadians more than $100 million every year. While telemarketing is
a legitimate sales tool for many companies, including TD Bank
Financial Group, criminals may also use it to deceive you with
tempting but phony offers. Your best defense is to learn to
recognize this type of fraud and take a few simple steps to protect
yourself in these scenarios.
What is telemarketing
fraud?
Telemarketing fraud occurs when criminals - posing as legitimate
businesses, charities or causes - call people with phony offers in
an attempt to defraud them.
How does it work?
A criminal may phone to pressure you into (a) sending money for
a special offer, deal, prize or lottery that you have supposedly
won, or (b) revealing confidential information like your credit
card numbers, account details and so on.
What can I do to help
protect myself?
1. Know who you're dealing with
- Verify who the company is, where they're located, etc. Ask
questions and get a call-back number. If your questions are being
avoided or not answered to your satisfaction, you should be
cautious. Legitimate companies will give you an opportunity to
check them out or think about an offer.
- Never provide your account number, credit card number or other
financial information over the phone unless you initiated the call
or have validated who you're talking to within the company. No
merchant or police officer should ever request personal banking
information from you over the phone. If anyone asks you for this
information, alert the police and your financial institutions
immediately.
2. Don't rush or be pressured into a
decision!
- Allow time to do your homework. Don't invest or buy a product
or service without fully understanding what it is and verifying
whether it is legitimate.
- If the caller is using high-pressure sales tactics, it's a sign
that something is probably wrong, especially if you're told to make
a decision by the end of the call. The RCMP advises consumers not
to be afraid to hang-up the phone; it's not rude, it's smart.
Enrolment programs that offer a time period to look over the
details while enjoying the benefits can be a good way to learn
about an offer. Just be sure to respond within the time period of
the offer.
- Never send money to take advantage of a special offer, prize or
deal. You won't get any of these things - or see your money
again.
- Think twice about sending cash. According to law enforcement
agencies, criminal telemarketers often ask you to send cash or a
money order, rather than provide a cheque or credit card number. If
you're asked to send payment by wire or courier, it could be a
scam.
- If the offer sounds too good to be true (e.g., "call
now and receive a free trip"), chances are it is.
3. Keep records
- Make notes of the call - the name, address and phone number of
the person or company. If you do purchase an item, record the date
of the transaction and the delivery date that is promised.
Where can I get help or more
information?
Fraud - recognize it, report it, stop it. To
learn more or to report a fraud, you can contact the following:
- Phonebusters: 1-888-495-8501, www.phonebusters.com
Call Phonebusters to report fraud. They are a national anti-fraud
call centre operated by law enforcement agencies such as the RCMP.
They collect complaints and forward them to the appropriate law
enforcement agencies. - Competition Bureau: 1-800-348-5358,
www.cb-bc.gc.ca - RCMP:www.rcmp.ca/scams/scams_e.htm
The RCMP's website highlights the latest consumer scams and how you
can deal with them. - Reporting Economic Crime Online:www.recol.ca
- Canadian Council of Better Business Bureaus:www.canadiancouncilbbb.ca
