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Wire Fraud

Incident Date: 
Monday, March 20, 2017 - 09:30
Location: 
Thunder Bay
Date Published: 2017-03-20

Con-artists don’t discriminate. You don’t have to be a senior citizen to be victimized by scams.

Canadian business owners, for example, are often targets. Two types of wire fraud – the Business Executive Scam and the Financial Industry Wire Fraud – are often used against businesses.

Targets of the Business Executive Scam, also known as the Business Email Compromise, receive and email that looks like it came from an executive in their company. That executive requests wire transffers. In some cases the fraudster creates an email address that mimics that of the CEO or CFO of the company it is claiming to represent. In some cases the fraudster has compromised and uses the email account belonging to the CEO or CFO.

The fraudster, now playing the part of the executive, claims to be working off-site when they discovered an outstanding payment that needs to be paid ASAP. The fraudulent executive instructs the payments to be made and hands over a name and bank account. Loses are in excess of $100,000.

In the Financial Industry Wire Fraud, Canadian banks, credit unions, and brokers receive fraudulent email requests that appear to come from an existing client. Unknown to the target, the client’s email account has been compromised. The fraudster requests the bank or broker transfer money from “their” bank account to a foreign account.

Warning Signs – How to Protect Yourself:

*** Beware of unsolicited emails from individuals or financial institutions presenting an urgent situation requiring immediate attention.

*** Prior to sending any funds or product, make contact with existing clients in person or by telephone to confirm that the request is legitimate.

*** Watch for spelling and formatting errors and be wary of clicking on any attachments, they can contain viruses and spyware.

March is Fraud Prevention Month. To learn more about fraud and how to protect yourself, visit the Canadian Anti-Fraud Centre online.

http://www.antifraudcentre-centreantifraude.ca/index-eng.htm

Current weather

Thunder Bay, ON

Broken clouds, light snow, low drifting snow
  • Broken clouds, light snow, low drifting snow
  • Temperature: -12 °C
  • Wind: Variable from WNW to N, 20.4 km/h, gusts up to 38.9 km/h
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Online reporting

Using the Thunder Bay Police Service Police Online Citizen Reporting System you can report the following incidents:

  • Damage/Mischief to property under $5000.00
  • Damage (Not Wilful)
  • Harassing Phone Call
  • Lost and Found Property
  • Lost/Stolen License Plate
  • Lost/Stolen Securities (Identification)
  • Theft under $5000.00
  • Theft from Vehicle under $5000.00
  • Break In to Sheds and Detached Garages

Online Reporting starts here

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911

Non - Emergencies

(807) 684-1200

Mailing Address

1200 Balmoral Street
Thunder Bay, Ontario
P7B 5Z5