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– moneysense.ca
“There’s still the uncertainty around what’s going to happen on April 2, and I think that is influencing consumer behaviour,” said chief financial officer Sébastien Martel, referring to U.S. President Donald Trump’s pledge to impose 25% tariffs on trade partners next week.
How U.S. tariffs are impacting Canadian companies
The U.S. has already hit Canada and Mexico with 25% levies on goods that are not compliant with the North American free trade pact. The reprieve Trump granted on March 6 for items that do comply—a climbdown from blanket tariffs rolled out two days earlier—is also set to expire in a week.
Canada has struck back with its own duties on about $60 billion worth of American goods, and threatened tariffs on $95 billion more if the U…
Financial fraud in Canada: What to do if your bank account or credit card is compromised
– moneysense.ca
Ask MoneySenseWe have been defrauded of over $20,000 by someone who was able to make unauthorized e-transfers from our bank accounts. The bank has recovered a small portion of them, and it has refused responsibility for any more. I am at level three of the complaint process, and I am wondering how to proceed?
Do I need a lawyer now, before filing the new complaint?
My home insurance doesn’t cover anything. I have contacted the credit bureaus and I’m making a police report.
—William
How to deal with financial fraud
Sorry to hear about this situation, William. Any fraudulent activity in your financial accounts can be unnerving. But knowing someone was able to access your bank accounts directly is really intrusive.
Interac e-Transfer is generally a safe way to send money in Canada. “For every $100 spent across the Interac ecosystem, approximately $0.03 was lost to fraud in 2023,” according to Interac.
Regardless, fraud happens. E-Transfer fraudsters generally use text or email channels to exploit victims…
