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Thieves are swiping your hard-earned money via phone, text and email

Thieves are swiping your hard-earned money via phone, text and email

February 23, 2024

It is time we did more to protect Canadians from theft, writes Peter Watson.

A significant risk, as well as a significant nuisance, is the continuous attempts that are made on our technology devices to take our hard-earned money.

Thieves call, text, and email.

My own experience and that of others is these attempts at theft can occur several times a week.

Most work hard to earn an income and many have savings and investments. Those assets should be protected.

If a bank was robbed, there would be an instant sound of sirens with police cars converging on the scene of the crime. Investigation would happen and criminals would be arrested.

I don’t see the same urgency when money is stolen discreetly and out of the public eye.

There should be an efficient way to help ensure that those who use technology for the wrong reasons are arrested, and punished through our police using technology to find them.

There are likely a million reasons why it is too difficult or impossible to track down high-tech thieves. I understand that. But there are two million reasons why this should be done.

I was aware of an attempt of theft by phone. I called the police, and the large bank that was involved. They were totally disinterested in any attempt to collect any information or start an investigation.

With all due respect to the police and the financial institution, it seemed to me they had this, “Oh well, that crime would be hard to solve, so why bother?” mentality.

Crime prevention should focus on the modern way you can lose money to thieves. This should include phone, text and email.

My wish would be to organize some of our best minds with varied backgrounds, including those with tech skills to solve the “modern way” criminals use technology and devices to steal from us.

Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through