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Beware of scammers and con artists in times of COVID-19

BY FAZAAD BACCHUS

We are very fortunate to be living in a country where law and order is pretty much respected. In as much as we have seen violent crime increase, you must admit that crime is still quite on the lower end of the scale when compared to other cities and countries. In this time of COVID-19 what we need to be aware of are those scammers taking advantage of this situation. Here are some examples to look out for.

Request for financial assistance.  A few weeks ago, two men were trying to scam a lady whose uncle was residing in the US (illegally), telling her that he was illegal and couldn’t go to the hospital, that he was so sick he couldn’t talk, and that he sent a text message asking for help. The poor lady panicked, went to the bank, got the money, but then thought of calling her uncle herself, only to find out he was not sick at all. She reported the matter and fortunately those two guys were held by the police and charged. If someone approaches you for money to help a sick person, be sure to find out first from that person if this is so and it’s also better to ask a second person too.

Household decontamination and duct cleaning services. Everyone is home these days and door to door salespeople are going around selling household decontamination services. They inform you that your neighborhood store or supermarket has had a breach with an infected person working there (lies) and if you have been to that store, then you may have contaminated your home. For a price they are willing to decontaminate your entire home including clean your ducts and installing special filters that prevent the spread of COVID-19, don’t fall for this. Clean and disinfect your home as per usual.

Loans and investments. Because of this pandemic, the markets have fallen, and some people have seen their investments fall significantly. Scammers know this and have designed a ploy to target those who have been affected by calling their home and offering them opportunities to bring back up their investments through hot selling stocks etc.  Some scammers are also offering loans to buy these investments. Do not encourage such people as they are only out to get your money.

Phishing and data collecting. If you receive an email supposedly from CRA telling you that you have qualified for CERB or that they are missing information to complete your benefit, do not entertain this email. It’s called a phishing email and its main purpose is to get your sensitive information for use at a later date. If you need to complete or check the status, then go to the CRA official website. You might also receive a call with someone purporting to be from CRA asking you for information to complete your benefits, do not give out your credit card number, your social insurance or health card number to people you have no idea who they are. Stay safe!

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Written By

Fazaad writes for the finance column at the Toronto Caribbean Newspaper. As a qualified Financial Advisor, he has completed his Masters in Business Administration, earned the designation of a Financial Services Specialist and Life Underwriter Training Council Fellow. Having worked in the Finance Industry for the last 27 years he is passionate about managing clients investment. He writes to bring a level of awareness to our community and to bring financial help to those who need it.

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