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An Article Contributed by Ada Tony-Ilebor, Branch Manager, TD Canada Trust

Financial fraud and scams have serious consequences that can affect friends, families, individuals, and our community. Victims often experience financial losses and stress, alongside impacts to their credit scores, confidence and economic stability.

By Ada Tony-Ilebor; In late 2022, the Canadian Government announced the introduction of the Tax-Free First Home Savings Account (FHSA). When I heard this news, it immediately brought back memories of how I began saving for a down payment to buy my first home, and how I used monies that I had saved in my Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) to make my purchase.

Each year, many people immigrate to Canada to start a new life. Immigrating to Canada is a big step and if you have funds available to bring with you from your home country, it can be very helpful for necessities like food, accommodations, and clothing. The question is, how do you transfer these funds to Canada in a safe manner?

Credit – including your credit history and credit score both play an extremely important role in establishing and maintaining a healthy credit rating in Canada.

Six years ago, I made one of the toughest decisions I've ever had to make. I left my life, and my 12-year banking industry career in Nigeria behind to start a new life in Canada.