With phone scams becoming increasingly more sophisticated in Canada, learning how to recognize warning signs is essential in protecting your finances and personal information.

Here are five red flags to look out for when someone contacts you on the phone: 

1. Too Good to Be True
   A call with the promise of money may make you feel hopeful or excited. However, many scammers use this tactic to trick you into disclosing your financial information or to send them money. Do not send money to anyone you do not know or trust.
   
   
2. Asking for Personal Information
   Scammers will send automated phone messages to trick you. If this is the case, you can hang up. However, sometimes you may find yourself on the phone with another person. If you are unsure, do not be afraid to ask who they are, why they are calling, and what they are looking for. Legitimate companies or government agencies will not call you and ask for your personal information such as your account numbers, credit card details, passwords, SIN, or date of birth. If someone is on the phone claiming to be from a company and asking for your personal details, hang up and call the company using their official contact information. Remember, never share your personal and financial details.  
   
   
3. Urgent or Threatening Language
   Often, scammers create a sense of urgency so that people do not have time to think. Scammers may pretend to be your loved ones or a government agency, asking you to send money right away. If you feel uneasy or the person has an over aggressive tone on the phone, be cautious and do not share your personal information or agree to send money.  
   
   
4. Abnormal Procedures
   Scammers will sometimes ask you to install apps or share access to your device, claiming to be from the government or a company. Financial Institutions and government agencies will not ask you to download apps, install software, or provide remote access to your device. 
   
   
5. Caller Spoofing
   Scammers use caller ID spoofing to mask their real phone number with a fake caller ID or number that seems like it is coming from a legitimate source. Even if the phone number or caller ID appears legitimate, do not give out your personal information over the phone.  

When in Doubt, Hang Up 

If you are on the phone and it feels suspicious, you can simply hang up. If someone calls claiming to be from a company and asking for your personal details, hang up and call the company’s official contact number from their website. Remember, never share your personal details.  

If you have received a finance scam phone call, report the incident to the Canadian Anti-Fraud Centre or Competition Bureau. See the steps to do this here:  How to report fraud and scams in Canada.