According to the Canadian Anti-Fraud Centre (CAFC), mass marketing fraud is an enormous business that consistently claims victims who have not taken the time to verify with whom they are dealing. In fact, the CAFC says the surest way to avoid fraud is to verify, verify, verify. \nThe CAFC is urging you to be vigilant and take action to protect yourself against fraud\nThe National Strategy for Financial Literacy — Count me in, Canada recognizes the importance of making sure Canadians are “aware of the signs to watch for and how to minimize the risks.” Preventing and protecting against fraud and financial abuse is one of the three overall goals of the national strategy. \nBy the end of August 2015, the CAFC reports there were 33,016 complaints of mass marketing fraud, of which 9,381 Canadians reported being victimized. Total reported losses were more than $43.5 million.\nThis data is supported by a 2015 survey from Chartered Professional Accountants of Canada (CPA Canada), in which 32 per cent of all respondents had experienced financial fraud.\nCredit card fraud had the highest incidence rate (67 per cent), followed by debit card fraud, which was reported by 29 per cent of victims — so regular statement checks and protecting your cards and PINs are critical. \nCPA Canada’s study also found that 16 per cent of victims surveyed were targeted by digital scams. This compares to six per cent in a similar survey in 2014. \nIn addition, 48 per cent of those surveyed in 2015 with access to the internet were uncomfortable making online purchases. \nBeing skeptical and on guard is a good thing. CAFC says that 5,274 Canadians had reported being victimized by online financial fraud by the end August 2015. These cybercrimes bilked victims out of about $25.8 million and this is just the tip of the iceberg because so many online frauds go unreported.\nProtection tips\nYou are advised to use strong passwords, and to verify who you are dealing with before parting with money, property or personal information. There is that word “verify” again.\nIdentity theft also is a major concern for Canadians. Interestingly, 47 per cent of respondents to the 2015 survey believe their personal information is in the possession of people who should not have it. \nRegular monitoring of your credit report is a particularly effective way to prevent identity theft because it reveals who accesses your credit information and if anyone is applying for credit in your name. \nOther effective anti-identity theft strategies include keeping your social insurance number secure and only sharing it with government, your bank and your employer, and shredding documents containing personal information after use.\nResources are widely available to help people push back. An example is a comprehensive fraud prevention guide from CPA Canada titled Protecting You and Your Money: A Guide to Avoiding Identity Theft and Fraud.\nIn short, be on alert if: \n\n it sounds too good to be true\n you must pay or you can't play\n you must give them your private financial information\n it's a limited opportunity and you're going to miss out\n\nAdditional advice can be found online.\nReporting Fraud\nActual or suspected fraud should be reported to the police and the CAFC. You can reach the CAFC online or by calling toll free 1-888-495-8501.\nThe information you provide may help the CAFC identify a new or unique scam early on, and allow law enforcement, the media, businesses and other agencies to activate prevention and awareness measures. \nKeep the conversation going\nHave you been a victim of fraud? How are you protecting yourself against fraud?\nThis blog post was first published on the Huffington Post.