Recently, provincial police and the Canadian Anti-Fraud Centre have raised concerns about new variations of banking scams. These schemes involve fraudsters impersonating financial institutions, including credit unions.
How this Banking Scam Works
Fraudsters initiate the scam by falsely claiming that your bank account has been compromised. To “protect” your account, they instruct you to send an Interac e-transfer to your own cellphone number. They provide a specific question and answer for the transfer and then request a “code” afterward. This code is actually the last portion of the Interac e-transfer URL/link, which gives the fraudsters the ability to deposit the funds into their own account.
Police Warnings
To help protect yourself from these scams, it’s essential to remain vigilant:
- Caller ID Caution: Don’t trust phone numbers displayed on your caller ID — they can be easily manipulated. If you receive a suspicious call, tell the caller you’ll return the call, then use the number on the back of your bank card.
- Safety Measures: Always use a different phone or wait at least ten minutes before making an outgoing call to your bank to ensure the line is clear.
- General Advice: Never share details of URLs, codes, or personal information received via text or email with anyone.
- Report Fraudulent Activity: If you think you’ve been a victim of fraud, report it to the Canadian Anti-Fraud Centre.
Stay Protected
At Luminus, your safety is our priority. We encourage all members to stay informed and cautious to avoid falling victim to these increasingly sophisticated scams.
