Know the Common Fraud Scams

Once scammers gain access to personal or financial information, it can open the door to additional fraudulent schemes. Understanding how common scams operate is essential in protecting yourself from scams.

Investment Scams

Fraudsters promote fake investment opportunities promising high returns in a short period of time. To build trust, scammers may initially return small amounts of money to victims. Legitimate cryptocurrency wallets could be used for fund transfers to scammers.

Romance/Relationship Scams

Through fake online profiles, phone calls, or text messages, scammers initiate relationships to gain emotional trust. Once trust is established, scammers request urgent funds using different reasons such as travel, medical emergencies, family support, or business ventures. These scams can persist for months or even years.

Identity Theft

Scammers trick victims into revealing personal information, account information or passwords. Scammers then impersonate victims using the available information and redirect funds from victims’ accounts.

Emergency Scams

Scammers pose as family members, law enforcement, or legal representatives, claiming a loved one is in trouble and urgently needs financial help. These scams often target seniors, especially grandparents.

Technical Support Scams

Fraudsters may impersonate legitimate companies, posing as tech support agents and claiming your device has issues. Their goal is often to gain remote access or convince you to make payments for fake services.

Banking Support Scams

Scammers impersonate financial institution representatives, attempting to obtain personal information to ultimately authorize fraudulent transactions.

Impersonation Scams

Fraudsters pose as officials from legitimate organizations such as government agencies and law firms, demanding urgent payment for fake overdue bills or legal issues.

Do you think you’re a victim of fraud?

• Report it to the Canadian Anti-Fraud Centre (CAFC): https://www.antifraudcentre-centreantifraude.ca
• Notify your Raymond James Financial Advisor: Your Financial Advisor can help guide you through next steps and monitor your accounts for further risks.

Securities-related products and services are offered through Raymond James Ltd. (RJL), regulated by the Canadian Investment Regulatory Organization (CIRO) and a Member of the Canadian Investor Protection Fund. RJL financial/investment advisors are not tax advisors, and we recommend that clients seek independent advice from a professional advisor on tax-related matters. Insurance products and services are offered through Raymond James Financial Planning Ltd., which is not regulated by CIRO and is not a Member of the Canadian Investor Protection Fund. Solus Trust Company (“STC”) is an affiliate of Raymond James Ltd. and offers trust services across Canada. STC is not regulated by CIRO and is not a Member of the Canadian Investor Protection Fund.