Protect Yourself

While many Canadians have yet to experience fraud first hand, the problem is far from becoming extinguished. According to the PhoneBusters.com, a joint initiative between RCMP, Competition Bureau of Canada, OPP, and the government of Canada, reports 5,898 Canadians fell victim to Mass Marketing fraud in 2008, up 32% from 2007, losing $23.5 million dollars. Identity theft also grew in 2008, victimizing 11,335 Canadians, resulting in a loss of over $9.5 million.

Be Cautious of the follow signs of fraud:

• the caller is more excited than you are
• the caller/email demands an immediate answer but refuses to send you anything in writing other than email.
• You must pay fees or buy a product before you can collect your prize or obtain credit
• You are asked for credit card or financial account numbers, or copies of personal documents- but you get nothing in writing
• You can only send payment by wire services or by courier. This gets around the laws concerning mail fraud.
• You receive an unexpectedly large cheque
• Your business is invoiced for supplies or directory listings you did not order.
• Deals that are too good to be true
• You have won a prize from a contest you did not enter

Protect You Money and your Identity

• Keep your debit card in a safe place and don't lend it to anyone, including friends and family.
• Memorize your PIN number. Don't write it down (unless it is well disguised), "hide" it in your drawer, post it on your computer, carry it with you or attach it to your cards.
• Don't disclose your PIN to anyone (if you do, you could be held liable for losses).
• When selecting your PIN, don't pick the obvious. Your name, your children's names, address, telephone number, social insurance number or date of birth are all easy to find out. Choose something more complicated. If you don't, you could be held liable for losses.
• Don't let your debit card out of sight when you're conducting a transaction and don't let it be "swiped" twice. As soon as the transaction is complete, remember to take your card and the transaction record with you.
• Don't use ATM or POS (Point-of-Sale) machines where you don't feel secure. If anyone tries to distract you, retrieve your card and leave. When you're making a transaction, use your hand or your body to prevent people from looking over your shoulder.
• Notify your credit union immediately if you detect any irregular activity on your accounts or if your debit or credit card is lost, stolen or retained in an ATM machine.
• Consider changing your PIN number regularly.

For more information and tips about protecting your identity, download our Guide to Retain Your Identity, available here.

What to do if you’ve been victimized?

Click here to Download the Credit Union Identity Recovery Guide