BoC warns about emails that aren’t from the bank

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The BoC is issuing a warning about email and social media scams that are claiming to come from the bank. Canada’s central bank says the scams are using its logos and letterhead without authorization and misrepresenting it.

The BoC says it does not accept deposits from individuals or on behalf of them, nor does it collect personal or financial information from individuals through email. The central bank also does not request personal or financial information through social media messaging applications.

The BoC says if you have concerns about any Internet-based communication that purports to be from the bank, you should delete the message and contact your local authorities. It warns not to follow any links included in the message and instead access the BoC’s website by typing the address yourself.

Canadians more concerned about fraud now than 5 years ago

Most Canadians (75%) are more concerned about fraud today than they were five years ago, finds a survey by the Chartered Professional Accountants of Canada (CPA Canada). Respondents are particularly leery about protecting personal information while online shopping and using social media or email.

Read: Tax fraudsters posting as officers, warn Toronto-area police

Fraud protection

Three-quarters of  respondents are doing more to prevent themselves from being victims of fraud when compared with five years ago. Some simple but important actions are being taken.

  • 86% of those who have access to the Internet and have a debit/credit card use passwords that contain letters, numbers and symbols for websites that include financial information.
  • 80% who have a credit or debit card say they always shred statements that list credit or debit card numbers.
  • 73% always lock their mobile device when not in use.
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