Do you frequently get suspicious texts and calls about your bank account being compromised or notifications about unauthorized charges on your credit card? You’re not alone.
Bank fraud is on the rise in Canada and scammers are now using new ways over the phone to spoof Canadians.
This year, as of Sept. 30, there have been 2,769 reports of phone calls from fraudsters claiming to be from a financial institution, according to the Canadian Anti-Fraud Centre (CAFC). That number is up from 2,212 reports in 2021 and 1,147 the year before, according to data shared with Global News this week.
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The number of bank-related phishing text messages reported to the CAFC has also increased in 2022, with 543 reports affecting 219 Canadians, compared with 394 reports last year and 347 in 2020. But that number could be much higher because the agency estimates that less than five per cent of phishing scams are actually reported to the CAFC.
Text spamming is becoming common as the scammers are getting smarter and more efficient, said Daniel Tsai, a lecturer in law, business and technology at the University of Toronto.
“It basically looks like a legitimate text…
