Fraud and Scams in Canada: How to Protect Your Money and Identity

A call from “your bank.” A text about a CRA refund. A loan approved before you even applied. Fraud in Canada often starts with a message that looks routine.

This guide shows how to spot the most common scams, how to protect your identity and exactly what to do if you’re hit, using guidance from the Canadian Anti-Fraud Centre (CAFC), the CRA and Canada’s two credit bureaus.

Key takeaways

• Banks, police and the CRA won’t pressure you to move money or pay with gift cards or crypto.
• Identity fraud uses your personal details to open credit cards, bank accounts and phone accounts in your name.
• A fraud alert with Equifax and TransUnion is one of the first steps after identity theft.
• Report every fraud, even small ones. The CAFC uses reports to link cases and warn others.

Scams to know right now

Based on the CAFC’s fraud descriptions and the CRA’s scam page, checked September 23, 2026.

How to protect your money and identity, step by step

1. Learn how the top scams work
2. Lock down your accounts
3. Verify every caller yourself
4. Check your credit reports
5. If it happens, act the same day
6. Place a fraud alert with both bureaus
7. Close the gaps

Step 1. Learn how the top scams work

In the bank investigator scam, fraudsters pose as your bank, the police or a credit bureau and ask you to help with an “investigation.” With fake loans, the CAFC notes that in most provinces it is illegal for a company to ask for an upfront fee before you receive your loan. It also warns about “guaranteed” loans offered even with bad credit, and about instant approvals. If you need to borrow, our guide to real loan options for bad credit in Canada explains what legitimate lenders look like.

Step 2. Lock down your accounts

Use a unique password for your bank and email, and turn on two-step verification. The CAFC says never to share codes you receive by text or email with anyone. Those codes are the last lock on your account.

Step 3. Verify every caller yourself

The CAFC warns that the number on your call display may be faked. End the call and dial the number on the back of your bank card. According to the CAFC, institutions and police will never ask you to hand over your bank card.

Step 4. Check your credit reports

TransUnion suggests requesting your report at least once a year from both bureaus. Look for accounts or inquiries you don’t recognize. Our guide on how to check your credit score in Canada for free shows how.

Step 5. If it happens, act the same day

The CAFC’s steps for victims start with gathering documents, receipts, emails and texts. Then report it to the financial institution that sent the money, and to your local police to get a file number. Finally, report it to the CAFC through the online reporting system or by phone.

Step 6. Place a fraud alert with both bureaus

For identity fraud, the CAFC advises flagging all your accounts, changing all your passwords and alerting both Equifax and TransUnion. Equifax Canada takes identity theft and fraud calls at 1-800-465-7166. TransUnion Canada says its Fraud Victim Assistance Department adds fraud alerts to your file.

Step 7. Close the gaps

Contact Canada Post if your mail was redirected, and tell your phone and utility providers. If your SIN may have been stolen, the CAFC says to contact Service Canada at 1-800-O-Canada. The CRA also has a page to report a scam or identity theft involving your tax account.

Common mistakes

• Trusting the caller ID because it shows your bank’s name.
• Paying a “recovery” service. The CAFC says never to send money to people who promise to get your losses back.
• Sending an upfront fee to unlock a loan.
• Staying quiet out of embarrassment. Reports help police link cases.
• Investing through a platform you found through a new online contact. Check registration with your provincial or territorial securities regulator first; our list of investment apps in Canada for beginners covers established platforms.

Tools that help

1. Canadian Anti-Fraud Centre

The national centre that collects fraud and identity theft reports, with partners including the RCMP, the Ontario Provincial Police and the Competition Bureau.

• Cost: free.
• How to report: online at reportcyberandfraud.canada.ca, with an option to remain anonymous, or call 1-888-495-8501.
• Hours: Monday to Friday, 10 am to 4:45 pm Eastern time, closed on holidays.

• Official scam descriptions and current alerts.
• Doesn’t replace a police report; contact local police first.

2. Equifax Canada fraud line

The phone line for people who have been victims of identity theft or fraud.

• Phone: 1-800-465-7166. After choosing your language, press 4 or say “fraud.” For lost ID, press 3.
• Updates: to change contact details on an existing fraud warning, mail proof of ID and a copy of your phone bill with a written request.

• A direct line for fraud, separate from product sales.
• Covers only your Equifax file; contact TransUnion too.

3. TransUnion Canada Fraud Victim Assistance

TransUnion’s department for victims of credit fraud.

• What it does: adds fraud alerts to your credit file.
• Support: TransUnion describes a seven-step program to protect and assist victims of credit fraud.

• Covers the second bureau lenders check.
• Contact details are on TransUnion’s support pages, not in one place.

Checklist: if you think you’ve been scammed

• Stop all contact and don’t send more money.
• Save emails, texts, receipts and account numbers.
• Call your bank using the number on your card.
• Report to local police and write down the file number.
• Report to the CAFC online or at 1-888-495-8501.
• Ask Equifax and TransUnion to add a fraud alert.
• Change your passwords and turn on two-step verification.

How we built this guide

• Checked: every phone number, hour and rule on September 23, 2026, on the official pages listed below.
• Order: steps follow the order of prevention first, then response; the tools are not ranked.
• Sources: only the CAFC, canada.ca (CRA) and the official Equifax Canada and TransUnion Canada pages.
• Independence: no organization paid for placement, and none of the tools listed charges a fee.

FAQ

How do I report fraud in Canada?

Contact your local police first, then report to the Canadian Anti-Fraud Centre online or at 1-888-495-8501. Also tell your bank if money left your account.

Will the CRA ever ask for payment by gift card?

No. The CRA says it will never demand or pressure immediate payment by Interac e-Transfer, cryptocurrency, prepaid credit cards or gift cards.

How do I put a fraud alert on my credit file?

Call Equifax Canada at 1-800-465-7166 and contact TransUnion’s Fraud Victim Assistance Department. Do both, since lenders may check either bureau.

Can a lender ask for a fee before giving me a loan?

The CAFC says that in most provinces it is illegal for a company to request an upfront fee before you receive your loan. Treat that request as a warning sign.

What should I do if my SIN was stolen?

The CAFC says to contact Service Canada at 1-800-O-Canada. Also alert both credit bureaus and watch your credit reports.

For the full picture, see our hub Best Savings Accounts in Canada 2026, the best high-interest savings accounts in Canada and the bank account promotions available right now. New to Canada? Start with banking for newcomers.

Sources

• Canadian Anti-Fraud Centre
• CAFC — Report fraud
• CAFC — What to do if you’re a victim
• CAFC — Identity theft and fraud
• CAFC — Bank investigator
• CAFC — Loan
• CAFC — Investment
• CRA — Recognize a scam
• CRA — Report a scam or identity theft
• Equifax Canada — Contact us (identity theft and fraud)
• TransUnion Canada — What is identity theft?

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