Financial scams come in many forms including fraudulent texts, emails, and phone calls that seem to be from your bank. They may claim your account has been frozen and send you a link to a fake website, or ask you to verify personal details over the phone. Another tactic involves calling victims and pretending to need help with a fraud investigation. These scammers often request wire transfers, e-transfers, or gift card purchases to steal your hard earned money.
To protect yourself, it’s essential to understand what your bank would never do:
Your bank will never call you to ask for personal information – If someone calls asking for personal details, hang up and call your bank using the number on the back of your card.
Your bank would never ask you to keep secrets – Fraudsters often tell victims not to reveal why they’re withdrawing or transferring money.
Your bank would never threaten to cancel your account – Messages urging quick action, like unlocking an account, are red flags.
Your bank won’t involve you in investigations – Real banks don’t ask for help in fraud cases or offer compensation for participation.
Your bank will never ask you to buy gift cards – If someone requests this, it’s a scam.
Your bank won’t ask for remote access to your computer – Avoid downloading software or sharing access at the request of an unknown caller.
To protect yourself from scams, understand your responsibilities as an account holder, enable two-factor authentication on all platforms, and stay informed. Two-factor authentication adds an extra security layer, while resources like the Canadian Anti-Fraud Centre educate you on common fraud tactics to help you avoid them. Stay vigilant, stay safe!