Paul Martin Commentary
This is fraud prevention month in Canada.
This might seem out of step but in an era where artificial intelligence is dominating the news in the technology world AI is not the only thing an alert consumer should guard against.
The team at Regina-based Conexus Credit Union has come up with a list of four prevalent dangers. The first is straightforward: don’t share your passwords with anyone.
After that it gets a bit more interesting. The credit union has just completed a merger of three large Saskatchewan CUs and it says times of change – such as a merger – are opportunities for fraudsters trying to compromise customers in a time of change.
The third, and most intriguing, warns that romance and fraud often go hand-in-hand. It notes the provincial securities commission is advising scammers will use social media channels to forge a relationship, often romantic in nature, to build trust and then recommend the unsuspecting partner make an investment promising high returns. Before long the money and the scammer disappear.
Finally, the Credit Union suggests: report anything you find suspicious.
