Keeping Yourself Safe From Fraud


By Allison Fader, Manager, Risk Management

Fraud is a crime that threatens every Canadian, regardless of their education, age or income.  According to the Canadian Competition Bureau, more than 20,000 complaints and $40 million in losses were reported by Canadians in 2016.  Knowing how to recognize, reject and report fraud is your best defense.  To mark International Fraud Awareness Week (November 12-18), I'm sharing the top three tips I've gathered in my many years at CUA:

  • Keep your personal information private: Don’t share your PIN or passwords, even with loved ones.  While it may seem harmless, it may be putting your security at risk.  Another way to keep your accounts secure is to be mindful of how you’re using social media.  While it is one of the main ways we connect with friends, families, colleagues and businesses, it could also be a way that someone gains access to your personal accounts.  For example, if your Facebook profile is open to the public and you share information that is often used in security questions, like your birth date, children’s or pet’s names, you could be putting yourself at risk.  A good rule of thumb is to only post things that you would be willing to share with a stranger on the street, even if your profiles are set to private or friends only.
  • Use the latest technology:  Keeping yourself secure online starts with keeping your anti-virus program or software up-to-date.  If you mistakenly click on a link or email attachment that contains a virus or malware, these systems can protect you from someone else obtaining your information the next time you log in to your online banking.  Using tap technology on your bank or credit card is another way to keep your information and money secure.  If your banking information is compromised at a point-of-sale in a store, it is often done so through the magnetic stripe on your card.  By using tap, there’s less chance of your card being read by skimming hardware and anyone stealing your information.
  • Be vigilant:  By keeping an eye on your transaction history and your bank account activity, you can flag any suspicious items right away if something occurs.  Other ways you can be vigilant are by changing your passwords periodically and by asking your own security questions when you receive a call from your financial institution or other organization that deals with financial matters.  By asking questions only they would know the answer to, you can ensure that you're talking to the organization they say they're representing.  If you still aren't sure about who you're talking to, call them back on a phone number that you know and ask to be connected to that person again.
If you are worried that you may be the victim of fraud, it’s important that you contact us as quickly as possible by visiting a branch, emailing alerts@cua.com or by calling 902.492.6500. Whether you have a lost or stolen card, your online banking has been compromised or you have any other concern, we want to make sure that this issue is taken care of as quickly as possible.

Allison

Report a lost/stolen Collabria Visa or Mastercard (Canada and U.S.): 1-855-341-4643

Report a lost/stolen Collabria Visa or Mastercard (International Collect): 1-647-252-9564


Report a lost/stolen MemberCard debit card: 1-888-277-1043.

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