Security is everyone's responsibility

Student loan financial aid scams involve fraudsters posing as debt relief companies that claim they can reduce or eliminate your student loan debt. They often target borrowers through email, text messages, or phone calls, offering quick solutions that seem too good to be true.

These fraudsters frequently use high-pressure tactics to push you into making hasty decisions, claiming limited time offers or invoking "new laws" that will end their services soon.

Think before you trust – verify before you act! If you suspect fraud, report it immediately.

How to spot the scam

• Unsolicited offers: Be cautious if you receive unsolicited emails, texts, or calls from companies claiming to help with your student loans.
• Urgency tactics: Fraudsters often create a false sense of urgency, claiming that new laws are in place or that government programs will soon end. If you are pressured to act immediately, this is a major red flag.
• Unverifiable information: They might reference vague "new laws" or "exclusive" programs that seem too complex to verify. Always cross-check this information on official government websites.
• Upfront fees: Legitimate student loan servicers will never ask for payment upfront to negotiate loan reductions or forgiveness.
• Threats of arrest or legal action: Scammers might claim you will be arrested if you don’t act now. This is a classic scare tactic. Legitimate services will never threaten you. Always verify with your loan servicer before taking action.

How to protect yourself

• Verify the legitimacy: Only communicate with your loan servicer directly via their official phone number or website. Government-affiliated services such National Student Loans Service Centre (NSLSC) can be trusted for guidance.
• Do not give out personal info: Never share personal details like your Social Insurance Number (SIN), bank account, or credit card information unless you're sure the company is legitimate.
• Hang up if you're unsure: If you get a call or message from an unfamiliar company claiming to offer loan relief, hang up. Call your loan servicer directly to confirm whether the offer is real.
• Report suspicious activity: If you suspect you've been targeted, report the scam to the Canadian Anti-Fraud Centre or your student loan servicer.
• Take action: Stay vigilant and always take the time to research before taking action.

Learn more about how to protect yourself ❐

AI Generated audio and video scams are becoming more sophisticated.

Scammers are using AI to clone voices, manipulate videos, and create fake identities, making their scams appear more legitimate and convincing. They may even fake voices or faces of people you trust to trick you into sending money or revealing personal information.

Detect. Defend. Defeat deepfake fraud.

Think before you trust – verify before you act! If you suspect fraud, report it immediately.

How to spot a deepfake scam

• Sudden, urgent requests for money from friends, family, or colleagues.
• Poor lip-syncing or unnatural facial movements in a video call.
• Unexpected changes in voice tone or accent during a call.
• A sense of urgency to act quickly without verifying details.

How to protect yourself

• Always verify requests for money via a separate method (call the person directly).
• Use a code word with family members for emergencies.
• Be skeptical of video or voice messages that pressure you to act fast.
• Keep personal information off social media to prevent scammers from gathering data.

How deepfakes are targeting small business

As AI technology evolves, so do scams targeting businesses. Deepfake scams use AI to mimic voices, emails, and even videos of trusted individuals—making it harder than ever to spot fraud.

Common deepfake scams

• Fake emails or calls from "your boss" requesting urgent payments.
• AI-generated voice messages pretending to be suppliers.
• Fraudulent video calls appearing to be real people.

Learn more about deepfake scams targeting businesses ❐

How to protect your business

• Always verify requests for payments or sensitive data through a second channel.
• Educate your team on deepfake tactics.
• Use multi-factor authentication to secure financial transactions.
• Stay updated on fraud trends to stay ahead of scammers.

Card‑not‑present fraud is a type of credit card/debit card scam where the criminal uses your card numbers to make purchases online, by mail, or over the phone. In these cases, they do not have to present the physical card to make a purchase.

How do Fraudsters get your card information?

Criminals who commit Card‑not‑present fraud obtain credit/debit card information from unsecure websites, fake sites and through phishing techniques. Learn more about how Card‑not‑present fraud is committed.

How to protect yourself

• Confirm you are using a secure payment method when shopping online.
• Enable transaction alerts to monitor your account in real time.
• Never save your card details on unfamiliar websites.
• Be cautious of unsolicited phone calls requesting card details.

Spot the signs and take action

• Emails or calls pretending to be from your bank requesting card details.
• Stay one step ahead – monitor your transactions and report suspicious activity.
• If you suspect fraud, report it immediately.