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Dec 23, 2021 · Canadians lost more than $100 million due to scams in 2021 and these were the top five tactics that people fell for this year.
- 'Taking Advantage of The Vulnerable'
- Looking For Options Online
- 'Didn't Make A Lot of Sense'
- 'Really Taking Advantage'
- 'Going on For A Long Time'
- Tips from The Better Business Bureau
The Ontario woman sent the "credit protection" payment — in two instalments — but did not receive the loan or the refund. Her telephone calls weren't answered and the company website has disappeared. "They're despicable. They're taking advantage of the vulnerable," she said. St-Cyr said people "who get scammed need to share their stories." "There's...
Revenue has since plummeted by 75 per cent, he said, while rent and overhead are constant. He's approached his bank for funding and is hoping for government assistance on rent, but said he also researched lending options online to help him cover three months' rent, or about $15,000. "It's the age of the internet, and I get all these emails," said T...
Tremaine said he became skeptical right away. "It didn't make a lot of sense to me," he said. "And that was the end of the conversation." Tremaine did not sign up for the loan and instead called the BBB. CBC examined the contracts from Belford Capital Service and First Capital Canada, and it appears the two entities are related or the same. The con...
"I didn't realise it was so young. Wow!" said Tremaine. "These people are really taking advantage of the situation." CBC attempted to contact both companies. Belford Capital Services was unreachable. First Capital Canada hung up twice and did not respond to an email inquiry. If consumers can determine when a website offering loans is created, it co...
Still, tracking down the physical locations of these companies isn't easy, said St-Cyr, because they often use virtual offices. "This scam has been going on for a long time," St-Cyr said of companies offering advance fee loans. The BBB regularly charts and investigates such consumer complaints and has noticed an uptick. "We are receiving calls ever...
Any upfront fee to pay before getting a loan is a "cue to walk away."Beware of loan guarantees before you submit any documentation.Payments like e-transfers or wire transfers or bitcoin or payments to an individual are a "tip-off" to fraudulent activity.Be suspicious of offers that tout lower interest rates — even if you have a bad credit score.2020-02-19. Today, the Financial Consumer Agency of Canada (FCAC) released the results of its review of banks’ procedures for handling consumer complaints and its review of the operations of external complaints bodies.
May 29, 2020 · The Canada Revenue Agency (“CRA”) is stepping up its scrutiny of trusts in Canada by increasing its collection of information regarding beneficial ownership. Trustees and their advisors need to be prepared to respond to the new compliance and reporting obligations.
Mar 17, 2023 · FCAC conducted a review in 2020 that found shortfalls with how Canada’s biggest banks handle consumer complaints, including unreasonable delays and inadequate training, as well as concerns about a system that allows banks to choose their external ombudsman.
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Feb 18, 2020 · The Financial Consumer Agency of Canada (FCAC) will release the results of its review of bank complaint handling procedures and its review of the operations of external complaints bodies (ECBs).
