In today’s society, credit card debt is an unavoidable life-style. Loans assist the average Canadian maintain a good credit history, pay money for college, finance an automobile, and buy a house. They’re also assisting more and more Canadians stay afloat during rocky economic times. But that doesn’t mean loans aren’t without risks, as well as the biggest risk of most is whom you elect to borrow from.
Exactly exactly exactly How extreme is the danger? Take a peek during the figures: every year, Canadians lose on average $100M bucks to scammers, but because no more than 5% of victims come forward to report the criminal activity, the greater company Bureau estimates the number that is real most most likely when you look at the billions.
Main point here: frauds are big company in Canada, and loan fraudulence represents an important bit of that billion-dollar cake.