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COVID-19 Fraud

As with any major event, fraudsters and scammers have found ways to exploit the COVID-19 pandemic. While fraudsters and scammers are quick to adapt their methods to take advantage of a crisis, FCNB reminds New Brunswickers that carefulness is key. Monitor for the red flags of fraud, which remain consistent regardless of the fraud or scam. Ask questions and think seriously before making financial or purchasing decisions. These are the best defenses from being victimized by a con artist or from making a decision that isn’t in your best interest.

 

Protect yourself. Beware of:

 

  • Coronavirus-related investment scams from companies claiming to have products or services that will prevent, detect or cure COVID-19 infection. The Canadian Securities Administrators (CSA) issued a news release warning investors about pump-and-dump schemes.

 

  • Scam artists using fear around the current economic conditions to steal an investor’s money. The CSA is urging investors contacted by anyone with warnings about their investments or finances to refrain from giving out any personal information. Read more here

     
  • Potentially fraudulent ads offering opportunities to work from home as securities traders during the pandemic without any former experience or a licence and the benefit of keeping a large percentage of profits. In Canada, anyone in the business of trading securities must be registered with their provincial or territorial securities regulator, unless an exemption applies. In New Brunswick, an individual must be registered with FCNB to act as a dealer or adviser.

 

  • Door-to-door sales from people selling household decontamination services. In New Brunswick, door-to-door sales are currently prohibited under the province’s Declaration of a State of Emergency and Mandatory Order. 

 

 

  • Unsolicited calls, emails and texts giving medical advice or requesting urgent action or payment. The Canadian Anti-Fraud Centre (CAFC) warns:
    • If you didn't initiate contact, you don't know who you're communicating with.
    • Never respond or click on suspicious links and attachments.
    • Never give out your personal or financial details.

 

  • Ill-intentioned people using the opportunity to tug at your heart strings and scam you out of “charitable donations.”
    • Don’t be pressured into making a donation. 
    • Verify that a charity is registered here.

 

  • High-priced or low-quality products purchased in bulk by consumers and resold for profit. The CAFC warns items may be expired and/or dangerous to your health. 

 

  • Questionable offers, such as: miracle cures, herbal remedies, vaccinations and faster testing. 

 

  • Fake and deceptive online ads, selling: 
    • Cleaning products
    • Hand sanitizers
    • Other items in high demand

 

  • People posing as cleaning or heating companies, offering duct cleaning services or air filters to protect from COVID-19.

 

  • Emails or calls from people pretending to be from your local or provincial electrical utility threatening to disconnect your power for non-payment.

 

  • Emails or calls from people pretending to be from the Public Health Agency of Canada saying falsely you have tested positive for COVID-19 in an attempt to trick you into confirming your health card and credit card numbers for a prescription. 

 

  • Emails, texts or calls from people pretending to be from the Canadian Red Cross or other known charities offering free medical products (masks) for a donation. Do not click on the link or respond.

 

  • Private companies offering fast COVID-19 tests for sale. Only healthcare providers can perform these tests.

 

  • Phishing emails from the Centres for Disease Control (CDC), the World Health Organization (WHO), the Province of New Brunswick’s Public Health office and other reputable emails. Do not click on the link or respond.

 

  • Spoofed emails targeting employees working from home during the pandemic. Watch out for:
    • Spoofed messaging from your human resources department asking for personal information or to click a link
    • Spoofed messaging from your IT department asking for credentials or emails with attachments.
    • Spoofed meeting invites
    • Spoofed package delivery notifications
    • Spoofed email account password resets
    • Organizational spear phishing attacks
    • Purchases and invoice spoofing
    • Spoofing of file sharing services such as Dropbox, OneDrive, SharePoint, WeTransfer, Sharefile and WorkSpaces.

 

Be alert to COVID-19 scams. Learn to spot the Red Flags of Fraud. Follow FCNB on Facebook for regular updates on current frauds circulating in New Brunswick and subscribe to our email alerts on scams targeting New Brunswickers.