May 26, 2022

Published February 6, 2022 at 10:27 am

A malicious new finance-based scam is threatening to steal the data of unsuspecting victims in Mississauga and Brampton.

Multiple local residents say they’ve received a text message vaguely informing them that they have been overbilled, and promising an “ETF return” to make up for it.

The scam looks like this:

An exchange-traded fund (ETF) is a type of pooled investment security that operates similarly to a mutual fund.

The text includes a link which residents are advised not to follow, as it may be used by scammers to steal  personal or financial information.

The Canadian Anti-Fraud Centre, which keeps track of notable scams and fraud in Canada, advises against giving away personal information such as your name, address, birthdate, social insurance number (SIN) and credit card or banking information if you’re unsure if the person or organization you’re talking to is legitimate.

As with all such scams, residents should delete the message and avoid replying to it, as even a simple reply can signal to scammers that your number is active.

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