Although consumers are often the victims of counterfeit funds, debit card fraud, cheque fraud and identity theft, law enforcement agencies say they play a vital role in putting an end to the criminal activity.
“We would like to educate and inform the public about counterfeiting and the steps that need to be taken to deter counterfeiters,” said RCMP Staff Sgt. Marjorie Maier. “I think to be proactive is the best way to fight this.”
The Bank of Canada, in conjunction with law enforcement agencies across the country, aims to be proactive with their recently announced update to the successful anti-fraud program Fighting Fraud on the Front Lines.
The program was launched in 2008 and is targeted at preventing fraudulent transactions in the retail environment by educating retailers about counterfeit bills, debit card fraud, cheque fraud and identity theft.
The video modules, available on DVD or online, have since been viewed by more than 100,000 people and Ted Mieszkalski, senior regional representative with the Bank of Canada, said this inspired the update.
“Launching the program is targeted towards retailers, however, from the perspective of the consumer, it’s very valuable as well because it will give consumers insight into the range of fraudulent activity that’s out there,” he said.
The Canadian Anti-Fraud Centre reports more than 47,000 Canadians reported fraud totalling $64 million in losses for 2011.
Maier said this number is likely higher, considering some individuals are embarrassed to admit they have been scammed and are the victims of fraud.
“It’s a problem throughout Canada and it seems to be growing more and more, but I think it helps that we’ve been very proactive in terms of informing the public about this,” she said. “People are certainly more aware of the problem and are taking great measure to protect themselves.”
Counterfeit bills, debit card fraud and cheque fraud not only have an effect on the victimized individual, but on the Canadian economy as a whole.
“Economic crimes, whether they are identity theft, cheque fraud, counterfeit money or debit-card skimming impacts us all,” said Edmonton Police Service Economic Crimes Section Staff Sgt. Dan Service. “These types of crimes impact both the economy on a large scale and the individual persons.”
Mieszkalski said counterfeiting has decreased by roughly 90 per cent since 2004, largely a result of improved security features on bills created by the Bank of Canada.
Despite this, thousands of Canadians become victims of economic crimes annually.
Tips to avoid becoming a victim:
o Inspect bank notes and be aware of security features.<br />o Inspect cheques and ensure they include security features like holograms, microprinting, visible fibres and watermarks.<br />o Keep personal identification number (PIN) confidential and change it often.<br />Use a chip-enabled card whenever possible to avoid unnecessary swipes.<br />o Check bank statements often.<br />Inspect debit machines for things like suspicious card slots, keypads or cash dispensers.<br />o Shred documents containing personal information.<br />o Keep documents containing personal information in a secure location out of sight from criminals.
