Business

Top 10 scams in Nova Scotia Based On Losses

Published

8 months ago

March 2, 2024

March is Fraud Prevention Month and the Nova Scotia RCMP is warning the public about the top ten scams in Nova Scotia, based on dollar losses.

Every year, thousands of Canadians fall victim to fraud. According to the Canadian Anti-Fraud Centre, Nova Scotians lost $7,330,866.07 to scams in 2023.

Many don’t think it can happen to them, but scammers use sophisticated ways to target people of all ages. The best way to fight these types of crimes is through awareness and education.

Below are the top ten scams in Nova Scotia from 2023, based on dollar losses:

1 – Investment: Scammers solicit investments into false or deceptive investment companies that promise higher-than-normal returns.

2 – Service: scammers offer services such as tech support, air duct cleaning, or new cellphone service plans, in attempt to steal personal information.

3 – Romance: Using fake profiles on social media and dating websites, scammers convince people to enter into a virtual relationship with the goal of having them send financial support. Often victims are asked to send compromising photos of themselves and are subsequently extorted for money.

4 – Spear phishing: Pretending to be from legitimate sources, and using what look to be legit email addresses, scammers try to get businesses or individuals to send them money.

5 – Job: These scams involve online ads and fake job interviews; victims are often directed to purchase and send gift cards using fraudulent cheques.

6 – Extortion: Scammers unlawfully obtain money, property or services through intimidation. This is also done through sextortion, a form of blackmail that involves threats to distribute intimate images or videos if money isn’t paid to the fraudster.

7 – Bank investigator: Scammers call and ask for help catching fraudulent bank employees or offer help in resolving suspicious account transactions.

8 – Merchandise: Scammers create fake online ads online using resale sites, website pop-ups or fake company websites.

9 – Emergency: Fraudsters prey on people’s fear of a loved one being hurt or in trouble and in need of financial support. (Also known as the ‘grandparent scam’).

10 – Prize: Scammers contact people claiming they’ve won, or have a chance at winning, a prize or lottery; the winner is then asked to pay taxes or fees related to the fake winnings.

If you or someone you know is a victim of a scam, report it to your local police and the Canadian Anti-Fraud Centre. For more information, visit: https://antifraudcentre-centreantifraude.ca/index-eng.htm

Via RCMP

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Business

Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

Published

2 hours ago

November 6, 2024

Anne Joseph

TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

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Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

1 day ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Business

Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

1 day ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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