It is not uncommon for Fraudsters to impersonate a Financial Institution, often using a similar name, logo, or publicly available names of employees or management. A popular Mass Marketing scam is known as Advance Fee Fraud; characterized by the Fraudster posing as a representative of the company, falsely promising a product or service, such as a loan. The consumer is often approached through a telemarketer, email or in person. The consumer is asked to pay a fee in advance (sometimes referred to as an application or processing fee); money sent to these companies is unlikely to result in the promised loan and the advance payment will be at risk.
- Does not offer personal or business loans
- Does not solicit business through the use of telemarketers or direct email
- Does not charge an application fee
For more information on Mass Marketing and other types of Frauds, including what to do if you have been approached, please visit the RCMP website: http://www.rcmp-grc.gc.ca/scams-fraudes/index-eng.htm.