Consumers facing new scam threats this holiday season: BMO’s financial crimes head
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As the holiday shopping season approaches, one expert says there are some new scam trends emerging that consumers need to watch out for.
Larry Zelvin, head of the financial crimes unit at Bank of Montreal, says artificial intelligence is making fraud harder to detect.
Some emerging scam threats include AI-generated fake retailer websites and QR code scams that are embedded with malicious links.
Other scams include fake influencer accounts and counterfeit products on the TikTok Shop, as well as digital pickpocketing, where criminals use contactless payment devices to skim data from phones.
Zelvin says there are steps people can take to protect their personal information and finances.
This includes measures like not clicking on links in emails or text messages and instead going directly to a retailer’s website, and using credit cards since they have stronger protections against fraud than other payment methods.
This report by The Canadian Press was first published Nov. 17, 2025.