Scams - Protecting You & Your Loved Ones

Scams are on the rise. You hear horror stories often that life savings have been lost because scammers convince individuals that their family is in trouble and needs help. Another scam out there states that you are registered in a criminal case because you are evading your tax bill & are fraudulent.

Scams are everywhere and becoming harder to detect. They can be devastating to your financial situation and your emotional wellbeing. Cybercriminals are becoming more sophisticated and always thinking of new ways to defraud people. It is so important to recognize the signs and know how to protect you and your family from becoming a victim of scams.

Consider the following to protect yourself:

• Do not trust anything! Be wary if you receive an email, call, or text message that you are not expecting, or from someone you do not know. You can always ask someone you trust to take a look if you are unsure.

• Be cautious of email attachments and links. Often times, cybercriminals use email attachments and links that can lead to harmful websites and that cause you to download malicious software to gain access to your files and personal information.

• List a trusted contact person (TCP) on your financial accounts. This has become standard across the financial services industry. Naming a trusted contact person can be extremely valuable as an added layer of protection for you. This is someone your Advisor can reach out to for numerous reasons (e.g., if they feel you are unfit to act for yourself, cannot get in touch with you, and if they feel you may be the victim of a scam). It is important to note that your TCP cannot act as your power of attorney and does not have the same rights (i.e., cannot gain information or act on your accounts).

Remember, take extra care to make sure that you and your loved ones are protected from fraudsters.

Allison Martin is a Financial Advisor with Assante Capital Management Ltd. The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd. Please contact her at 613.774.2456 or visit ofarrellwealth.com to discuss your particular circumstances prior to acting on the information above. Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization.