Canadian Anti-Fraud Centre and United States Secret Service stop $750,000 fraud transfer

On July 6, the Canadian Anti-Fraud Centre shared a notification about a possible Business Email Compromise scam with the United States Secret Service Ottawa Field Office that resulted in saving a U.S.-based company from losing almost US$750,000 and a number of jobs.

Return scams jump as fraudsters exploit e-commerce boom

Retailers say they are seeing a sharp increase in a type of return fraud in which consumers claim they never received their online orders even though they did. The practice, known as “item not received” fraud, took off during the pandemic, when warehouses were backed up and carriers were overwhelmed by a surge in e-commerce orders.

BBB warns of Amazon raffle scam

In 2020, BBB received 771 reports of scams impersonating Amazon. The bogus raffle and suspicious link are part of a con used to trick people into visiting a phishing website, where they unwittingly share account credentials as well as personal and financial information with fraudsters.

Gang behind huge cyber-attack demands $70m in Bitcoin

The REvil group claims its malware, which initially targeted US IT firm Kaseya, has hit one million “systems”.

Computer scams are on the rise in Nova Scotia, RCMP say

Some computer repair shops in Nova Scotia have been seeing a rise in online scams since the COVID-19 pandemic began and the RCMP is warning the public to be on alert.

BBB warns about, consumers say site doesn’t deliver products

The Better Business Bureau is issuing a warning on Sneakfoot, a website that advertises as an “independent reseller” of name brand products ranging from shoes to apparel.

JBS Canada beef processing facility in Alberta resumes production after cyberattack

The JBS Canada beef processing facility in Alberta has resumed production after a cyberattack that impacted the company’s operations in North America and Australia.

Buyer beware: Little recourse for online shoppers stuck with counterfeit goods

Online shoppers say a loophole in the PayPal system has allowed vendors to exploit unsuspecting buyers with a bait-and-switch scheme involving the delivery of low-quality or counterfeit merchandise.

BBB warns residents to watch out for no-show psychics on social media

The Better Business Bureau is warning citizens to watch out for scam psychics who use social media to find victims. BBB Scam Tracker has received reports from people who paid for readings and other services but never received what they were promised.

Forter valued at $3 billion as online boom fuels fraud prevention tool demand

E-commerce fraud prevention startup Forter has raised $300 million in a funding round led by hedge fund Tiger Global Management, more than doubling its valuation to $3 billion in about six months.

Online Fraud