Financial frauds and scams target anyone. Explore the most common scams in New Brunswick, from crypto fraud to romance scams, and get practical tips to protect yourself.
Affinity fraud occurs when a scammer targets tight-knit groups such as associations, unions, social clubs, online social networks, and ethnic or religious communities.
Binary options are banned in New Brunswick. They’re high-risk bets on whether the value of an asset like stocks or foreign currency will increase or decrease in a very short period of time (as short as a few minutes).
Boiler room scams involve aggressive cold calls promoting “hot” stocks. The company may be fake or real.
Also known as CEO fraud or wire fraud this scam uses fake or hacked emails from executives or suppliers to request wire transfers.
Scammers pose as Canada Revenue Agency officials, threatening legal action or jail unless you pay immediately. Alternatively, you may receive a text message or email saying you have a refund waiting for you.
A person is contacted by someone pretending to be from a collection agency, demanding to be paid for a debt that doesn’t exist. High-pressure tactics are often used to convince the victim that they need to pay right away.
Crypto-related scams often promise unrealistic returns with little or no risk to the investor. They use emotions to lure people in, often making a person feel afraid of missing out on an opportunity that others are profiting from.
The scam artist calls pretending to be law official or a loved one (often a grandchild). They say they are in trouble and need money right away, but they want to keep it a secret so they won’t get in trouble with their parents.
Licensed door-to-door selling is a legitimate activity, but scams or breaches of the Direct Sellers Act can happen. Missing or incomplete contracts, bad quality products or services, aggressive sales tactics or the customer not getting what they paid for are common complaints the Financial and Consumer Services Commission receives.
This scam targets people looking for employment online or through text message. For example, you may be offered a job as a secret shopper or be hired to promote a company or product by wrapping your car in advertisements.
Exempt securities on their own are not scams. They’re usually sold to wealthy investors who can afford the higher risks of these investments. Exempt securities are risky, and you could lose all your investment.
Scammers use coercion to unlawfully try to obtain money or services from you. There are different variations, but they all involve threats.