No one ever wakes up in the morning and thinks to themselves, “Today I’m going to become a victim of fraud.” We assume we know the warning signs. We assume we understand the risks. We assume we’ll recognize a scam when we see it.

And yet every day, many of us do fall prey to fraudsters. Educated, informed people — friends, family, neighbours — get taken all the time. How? By being caught off-guard and not recognizing the signs.

With that in mind, here are some simple ways you can protect yourself from fraud of all sorts:

•      Slow down

A common theme in many fraud attempts is the artificial urgency fraudsters employ to prevent you from thinking things through. Don’t listen to them. When presented with an enticing offer, stop and think about it. Give it time to percolate. Does it still seem wise?

•           Apply the ‘Too good to be true’ test

Listen to your gut. If something sounds too good to be true, it probably is.

•          Question everything

Who is this person who contacted you? Do you know them? Is their request unsolicited? Would you trust them to watch your wallet? Why did they approach you? What are the risks?

•            Get a second opinion

If you’re being asked to do something — wiring someone money, for example — and you feel uneasy about it, bounce the idea off of someone else. Contact a trusted friend, a colleague or someone at the credit union and run the proposal past them. Do they think it’s a good idea, too?

•           There’s no such thing as a free lunch

                Many scams play on the appeal of quick, easy money. It's easy to get blinded by the dollar signs.    Don't  let that distract you from making a reasonable, informed, cautious decision.