Common scams

With cyber-fraud incidents on the rise and fraudsters waging sophisticated attacks through phone, text, email, and other digital channels, it’s important to recognize the warning signs that someone is trying to scam you.

We’ve identified the most common scams that fraudsters are currently using to steal your money and personal information.

Am I being scammed?

It’s often difficult to tell the difference between a scam and an urgent request or a new opportunity. This tool will help you to determine whether or not you’re being targeted by a common scam and guide you to more information as to how to spot and avoid everyday scams.

Common Scam Identifier Tool

Common scams that target your money

AI and Deepfake Scams

Artificial Intelligence (AI) technology enables computers and machines to perform tasks that historically needed human intelligence, like understanding language, recognizing patterns, making decisions, and learning from experience. AI scams are fraudulent schemes that exploit AI technology to deceive or trick you. These scams build on classic tricks that make them more effective than ever. Examples include impersonating companies and individuals, generating fake investment opportunities, posting fake reviews, creating fictitious profiles, and spreading misinformation.

Deepfakes use artificial intelligence to create or manipulate images, audio, and videos to produce convincing yet deceptive portrayals of people or events. They may look and sound convincing and have demonstrated their effectiveness in blackmail, deception, and extortion.

Deepfakes and AI scams can pose serious threats to your privacy and security. They can be used to spread misinformation, blackmail, harass, or steal money. They can also erode our trust and make us doubt what we see and hear.

While some deepfakes and AI scams can be very convincing, there are clues that can help you spot them. Watch out for these red flags:

Public figures promoting an investment opportunity, such as cryptocurrency or stocks.
If the deal sounds too good to be true, it probably is – trust your instincts.
Inconsistencies in lighting, shadows, or reflections.
Unnatural movements, expressions, or gestures and mismatched lip-syncing.
Audio inconsistences including background noises that don’t match the environment or unnatural tone and pitch.
Misaligned or mismatched features, such as eyes, mouth, or teeth.
Poor quality, blurriness, or glitches.
Websites that mimic real companies.
Lack of context, source, or verification.

Establish a code word with your family and trusted friends, something that is not available on social media. If you receive an unusual voice or video call from them, ask for the code word to validate the legitimacy of the call or reach out to them through a different means of communication to confirm its truly them contacting you.
If you encounter a deepfake or an AI scam, do not share, like, or comment on it, as this can help it spread further and cause more harm.
Use tools or websites that can help you verify or debunk suspicious content, such as reverse image search, fact-checking sites, or AI detectors.

Immediately put a stop to any outstanding payments.
Provide your local police with as much information as possible.
Report the incident to Scotiabank (and any other financial institution you may have a compromised account with):
- If you’re a Scotiabank client and believe you have been impacted by fraud, call us immediately at 1-866-625-0561.
- If you believe someone is impersonating a Scotiabank representative, send the information to phishing@scotiabank.com.
Additionally, file a report with your local anti-fraud Centre. For Canadian citizens, contact the Canadian Anti-Fraud Centre (CAFC) at 1-888-495-8501, or visit the CAFC reporting page for more information.