Industry Canada

Industry Canada
Competition Bureau Canada

Competition Bureau Canada

March 19, 2008 13:11 ET

Competition Bureau Provides the "FACTs" on Fraud Targeting SMEs and NPOs

CALGARY, ALBERTA--(Marketwire - March 19, 2008) - The Competition Bureau today launched the FACT Campaign (Fraud Awareness for Commercial Targets), an outreach and education initiative that provides businesses and not-for-profit organizations with the tools necessary to avoid becoming victims of fraud, which costs them millions of dollars annually.

The campaign provides practical Web-based tools to these businesses so they can recognize fraud and stop it before they are scammed. Among the most common scams, targeting thousands of small businesses and non-profits across the country, are fake invoices and fraudulent telemarketing pitches for office supplies.

"Criminal fraud schemes result in businesses and organizations losing millions of dollars each year," said the Honourable Diane Ablonczy, Secretary of State for Small Business and Tourism. "The Government of Canada is proud to be part of the launch of this campaign which aims at 'stamping out' frauds and scams by raising awareness among businesses and organizations across the country."

"Protecting Canadians from frauds and scams is extremely important to this Government, which is why we introduced new identity theft legislation in November 2007 that would make it an offence to obtain, possess or traffic in other people's identity information in order to commit a crime," said the Honourable Stockwell Day, Minister of Public Safety. "Our Government will continue to work with our partners, including the Competition Bureau, to fight fraud - a crime that victimizes individuals and businesses, and society as a whole."

"Fraud against business is an economic crime that costs us all through higher prices," said Sheridan Scott, Commissioner of Competition. "We need to arm businesses with the knowledge to defend themselves against these anti-competitive acts and this campaign will do just that."

"With Canada's growing shortage of labour and higher staff turnover rates, combating fraud is a huge challenge," said Dan Kelly, senior vice-president of the Canadian Federation of Independent Business. "Any assistance in stemming fraudulent activity is welcome and helps allow small business owners to focus on growing Canada's economy."

The campaign was launched today in Calgary, home to one of Canada's fastest-growing SME communities. Easy to read information for SMEs and NPOs on how to identify common scams, train front-line staff such as receptionists and book-keepers, and pick out fake invoices is available on the FACT page of our Web site.

The campaign is being launched as part of Fraud Prevention Month in Canada, which operates under the tagline Recognize It, Report It, Stop It. Other Fraud Prevention Month events and announcements can be found at www.competitionbureau.gc.ca/fraud.

The Competition Bureau is an independent law enforcement agency. We contribute to the prosperity of Canadians by protecting and promoting competitive markets and enabling informed consumer choice.

Contact Information

  • Media enquiries:
    Maureen McGrath
    Senior Advisor
    External Relations and Public Affairs Branch
    819-953-8982
    or
    Catherine Godbout
    Office of the Honourable Diane Ablonczy
    Secretary of State (Small Business and Tourism)
    613-947-5856
    or
    General enquiries
    Information Centre
    Competition Bureau
    819-997-4282
    1-800-348-5358
    or
    Melisa Leclerc
    Director of Communications
    Office of the Honourable Stockwell Day
    Minister of Public Safety
    613-991-2863