Avoiding Financial Fraud

Home  >>  Financial Literacy 101  >>  Avoiding Financial Fraud

There are many forms of financial fraud Canadians need to be aware of. During unstable economic times, individuals may be lured to partake in various “investment opportunities”, unaware that they are about to be scammed. The following is a short list of scams that are targeted to individuals of all ages:

Scams led by an individual entrusted within a community usually in a group of friends, community groups, and religious organizations.

Consultants illegally advertising they are able to facilitate a consumer proposal on your behalf; generally charging an upfront fee.

Fake charities posing as legitimate registered charitable organizations.

An investment offer too good to be true; substantially higher than average. Usually involves a platform of investors much like a pyramid scheme.

Also known as Multi-Level Marketing, and various other distribution marketing channels. It involves recruiting individuals to join the organization with set fees.

Social media advertising enticing individuals to work from home making competitive wages from home.

If you have any stories to share or want to report any examples of fraud (within the categories) contact us by info@studentdestinations.ca.

UA-45593084-1