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Saturday, October 5, 2024

New Banking Scam Alert: Protect Your Money from Fraudsters!

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Provincial police and the Canadian Anti-Fraud Centre are alerting the public to new variations of banking scams that are targeting unsuspecting victims. In these scams, fraudsters are impersonating financial institutions, claiming that the victim’s bank account has been compromised. The scammers instruct the victim to send an Interac e-transfer to their own cellphone number, supposedly to protect the account until a new debit card is issued.

The fraudsters provide a specific e-transfer question and answer for the transaction and then request a “code,” which is actually the last portion of the Interac e-transfer URL/link. If the victim provides this information, the scammers can deposit the funds into their own account.

Authorities are urging the public not to trust phone numbers that appear on call displays and to independently verify any calls from financial institutions by using the phone number on the back of their bank card, ideally from a different phone or after waiting ten minutes. They also warn against sharing any details from links, URLs, or codes received via text or email.

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