Protecting CPAs from being the target of internet and email scams
Scott Messenger | CPA Canada
Some internet and email scams are targeting CPA learners and professionals
You could earn a CPA designation the conventional way—by completing the coursework, gaining practical experience and passing the exams. The alternative, you ask? That’s the thing, there is no alternative. The only legitimate way to earn the right to put those letters behind your name is through time and dedication.
But the bad actors behind internet and email scams attempting to capitalize on the career-advancing credential would have you believe differently. “CPA Mastery Hub,” for example, popped up on social media this spring with deceitful offers, including the ability to change marks after you take an exam, or the chance to simply purchase a designation outright.
“Cry no more,” soothes one Instagram post from “CPA Mastery Hub”, “because we are here to make your dreams come true.”
CPA learners and professionals in the field aren’t alone in being targets of web-based fraud. The cost of cybercrime to Canadians is measured in the tens of millions of dollars annually. Potential threats take forms such as social posts, illegitimate websites, and emails. They may bring news of amazing opportunities requiring an immediate response. They can also seem alarmingly real and relevant.
There’s a reason for that sometimes-eerie alignment with our lives, says Li Zhang, CPA director of social impact and financial literacy leader. Our daily use of the internet makes us vulnerable.
"In today's digital age, consumers, including CPAs, are inadvertently leaving a trail of personal and professional information online, providing scammers with ample ammunition for exploitation,” she says.
What’s more, "with the integration of artificial intelligence into cyber scams, the threats are becoming more sophisticated. Hence, education on cybersecurity and AI is paramount.”
That also applies to veteran CPAs with access to sensitive data and customer or client information.
Some scams involve impersonating a CEO or supervisor via a hacked email asking (urgently, of course) for contact information of customers owing the company money. Once that list is delivered—into the wrong hands—unsuspecting customers may find themselves settling up with a criminal. In some cases, the scammers will ask that a consultant be paid through a handily provided link. It’s another case of bad actors eager to leverage the power of the CPA credential.
Fraud is a creative industry—scams take myriad forms and will take ever more thanks to AI. But you can protect yourself and your organization by learning from reputable sources.
The Competition Bureau of Canada recommends being always on guard: double-check directly with the CEO personally when requests come in regarding timely transfers of sums of money.
Check with the Canadian Anti-Fraud Centre to familiarize yourself with the nature of current scams, and exercise due diligence if you believe you’ve encountered one. Pause to investigate. Does that organization touting shortcuts to a CPA designation on social media have an online presence you’d be able to personally contact?
The Government of Canada’s Get Cyber Safe program covers the basics. Be wary of email or text requests for sensitive information; if it seems too good to be true, it is; and expect a legitimate organization to have checked their spelling.
"It's crucial for us to stay informed, educate ourselves, and employ a healthy dose of skepticism to mitigate these risks," says Zhang.
If you’re ever unsure about something you see online or an email you receive regarding CPA Canada, exercise caution, she adds. Don’t hesitate to send a message to [email protected].
“Always ask if it doesn’t feel right,” says Zhang.
How do I know if an email is actually from CPA Canada?
A recent survey went out to CPAs via SurveyMonkey claiming to be on behalf of CPA Canada. The matter is currently being investigated, but this email was not sent by or on behalf of CPA Canada.
To avoid confusion here are some tips:
- Emails from CPA Canada will come from a @cpacanada.ca address.
- We will always let members know of any upcoming surveys conducted by a third party on our behalf through an advance email from a CPA Canada email address.
- Please be mindful when sharing any information online and ensure the content you engage with comes from a trusted source.
- When in doubt, never hesitate to email [email protected] to confirm whether the email you’ve received is authentic.