Get The Facts On Scams Targeting Businesses by Competition Bureau
January 12, 2009

People think of criminals as shifty, uneducated, or creepy and they believe they can spot a criminal a mile away. In fact, fraudsters who operate scams targeting businesses are sometimes anything but what you expect. They can appear friendly, polite and professional in every way. What that means is that your misperceptions about fraud might make you a target.

Here are a few facts. Last year, two-thirds of criminal mass marketing fraud cases pursued by the Competition Bureau were scams that targeted businesses and Non-Profit Organizations. Research shows that there is no typical fraud victim in Canada, but those who lose money to scams are 30% more likely to be scammed again within the year. Why? Because their names and addresses end up on “sucker lists”, which are distributed to other scam operators.

Scam artists are finding new creative angles every day so be careful when you receive unsolicited offers, especially when a deal sounds too good to be true.

How can you protect yourself?

Closely examine any ads or offers and ask questions about anything that’s unclear.

Inform yourself about the product and don’t be pressured to act immediately.

Always ask for a copy of the offer in writing.

Before paying, make sure you get what you ordered. Don’t be bullied into paying because of threats to damage your credit rating.

Talk to your colleagues about fraud.

Report your complaints or concerns to the Competition Bureau.

Learn more about the Bureau’s FACT (Fraud Awareness for Commercial Targets)

campaign and how to:

* Recognize scam techniques
* Spot phony invoices
* Train your front-line staff
* Build an anti-fraud plan for your business
Get the facts on fraud online at:    www.competitionbureau.ca/fact