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This man thought he was paying a power bill by phone; he got a scammer instead
When West Hants resident Drew Kaulback wanted to pay his Nova Scotia Power bill, he did what most people do: He searched for the phone number online.
A toll-free number popped up as the first result and he called it.
The number was not, in fact, the utility but instead a sponsored link for an elaborate scam that would leave him scrambling to secure his accounts.
Before he gave out his card number, he asked the scammer to prove that he was working for Nova Scotia Power by telling him the date of his last bill, the amount that was owed and how much was paid.
The man put Kaulback on hold briefly and came back with the correct information. Kaulback is unclear how the scammer managed to get it.
Kaulback handed over his credit card details, but thankfully the bank intercepted the payment.
Casey Spears, the social and digital adviser for Nova Scotia Power, told CBC Radio’s Information Morning Nova Scotia that the utility has been receiving an increasing number of calls about fraudulent websites, ads and phone numbers.
“Our IT and cybersecurity teams are aware of the issue and continue to monitor daily,” Spears said in an email.
“They have initiated several domain takedowns via Google, but unfortunately, these scams are sophisticated and move quickly, often only operating for only a day at a time, which makes it difficult to achieve.” Read more
First-time homebuyers can now apply for a 30-year mortgage. Is that a good thing?
The federal government is allowing longer mortgage repayment periods for first-time buyers with insured mortgages on newly built homes. Andrew Chang explores the pros and cons of 30-year amortization vs. the previous 25-year rule for prospective homeowners. CORRECTION: At 1:38 in this video, we miscalculated that 20% of $500,000 is $125,000. It’s $100,000. It has been edited out for clarity.
The 30-year amortized mortgages announced in the 2024 federal budget kicked in on Aug. 1.
First-time homebuyers who are purchasing newly built homes can now qualify for a 30-year mortgage, giving them five additional years to pay off an insured mortgage. For other mortgages where default insurance is required, a 25-year amortization limit is still in place.
Deputy Prime Minister Chrystia Freeland touted the changes as a chance to “restore generational fairness” for younger people trying to break into the housing market.
While some have said the changes will lead to lower monthly mortgage payments, opening up the housing market to younger buyers struggling with affordability, some mortgage analysts have cautioned that the new rules won’t apply to many people — and that they might cost you more on a long-term basis.
The extended insured mortgages are reserved for people who:
- Are first-time homebuyers.
- Are purchasing a newly built home without previous residents.
- Haven’t lived in a home or place of residence owned by a current spouse or a common-law partner — unless they’ve recently ended their marriage or partnership.
- Have a high-ratio mortgage, which are loans that exceed 80 per cent of the home’s purchase price.
In order to qualify for an insured mortgage, buyers have to be purchasing a home under $1 million and putting less than 20 per cent of the home purchase price toward a down payment. Read more
A U.S. judge has ruled Google has an illegal monopoly over online searches
Google broke the law with monopolistic behaviour over online search and related advertising, a U.S. federal judge ruled on Monday, the first victory for antitrust authorities who have filed numerous lawsuits challenging Big Tech’s market dominance.
The decision is a significant win for the U.S. Justice Department, which had sued the search engine giant over its control of about 90 per cent of the online search market, and 95 per cent on smartphones.
“The court reaches the following conclusion: Google is a monopolist, and it has acted as one to maintain its monopoly,” U.S. District Judge Amit Mehta wrote.
His ruling against Google paves the way for a second trial to determine potential fixes, such as breaking up the company or requiring it to stop paying smartphone makers billions of dollars annually to set Google as the default search engine on new phones.
Ultimately, Google will have a chance to appeal the court’s rulings to the U.S. District Court of Appeal for the D.C. Circuit. Read more
What else is going on?
Rents are still rising across Canada, but at the slowest rate in two and a half years
Provinces with the most affordable rents (a.k.a. not Toronto or Vancouver) are where they’re rising at the fastest pace.
More than 70% of dentists now accepting patients through Canadian Dental Care Plan
Participation jumped after Ottawa allowed dentists to submit individual insurance claims without officially registering.
Gerber brand of infant cereal has been recalled due to possible a bacterial contamination
Nestlé Canada says it’s received no reports of illness related to the recalled food.
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