'Bank investigator' fraud spreading in eastern Ontario: What it is and how to avoid it
Ontario Provincial Police and the Canadian Anti-Fraud Centre are warning people about fraudsters impersonating major Canadian banks.
The "bank investigator" scam involves someone calling and claiming to be from a bank, the police, or an online retailer, asking the target's help with an "ongoing investigation" into a breach of the victim's bank account.
Fraudsters will convince victims to send an Interac e-transfer transaction to their own cellphone number. The suspect will instruct the victim on the steps required to add themselves as a payee and to increase their daily Interac e-transfer limit.
The suspect provides the e-transfer question and answer that the victim must use for the transfer. Once the victim sends the Interac e-transfer transaction to their own cellphone number, suspects will ask the victim for a "code" which is the last portion of the Interac e-transfer URL/link received. If the victim provides the URL, suspects will have the ability to deposit the funds into their own account.
In some cases, the fraudster might request the target provide log-in information for their bank account, including two-factor authentication codes, as part of the "investigation", which then gives the scammer access to the victim's funds.
More variations of this scam can be found on the Canadian Anti-Fraud Centre's website, including fraudsters even claiming to be the Canadian Anti-Fraud Centre itself.
Ways to protect yourself
The OPP say to watch out for red flags when receiving phone calls from anyone demanding payment or access to financial information, even if it seems legitimate.
Oftentimes, the fraudster will spoof the phone number of the institution being impersonated, making the call appear legitimate. The scammer may also have access to some of the target's personal information like name, date of birth, address, or debit card number. Fraudsters will often provide the first 4 numbers of a debit or credit card to try and prove legitimacy. Remember that most debit and credit card numbers with specific financial institutions begin with the same four numbers.
Here are some more ways to protect yourself from falling victim to fraud:
- Financial institutions or online merchants will never request you to transfer funds to an external account.
- Financial institutions or police will never request you to turn over your bank card nor attend your residence to pick up your bank card.
- Never provide details of links or URLs received via email or text message to anyone, and never provide codes received via text or email, as these can provide fraudsters with access to your account.
- If you get a call claiming to be from your financial institution, advise the caller that you will call them back. End the call and dial the number on the back of your bank or credit card from a different phone if possible or wait 10 minutes before making the outgoing call.
- Never provide remote access to your computer or smart phone.
The Canadian Anti-Fraud Centre says calls from "bank investigator" fraudsters tend to happen early in the morning when a victim is still sleeping or not alert.
If you were a victim of this or any other type of scam, even if you didn't lose any money, you can report it to the Canadian Anti-Fraud Centre online. It is also recommended you report it to your local police.
CTVNews.ca Top Stories
2 dead, third in critical condition after attack in Kingston, Ont., suspect arrested
Two people are dead and a third suffered life-threatening injuries following an attack at an encampment in Kingston, Ont., Thursday. A suspect has been arrested following a multi-hour standoff.
B.C. will scrap carbon tax if feds remove requirement: Eby
British Columbia's premier says the province will end the consumer carbon tax if the federal government removes the legal requirement to have one.
Actor Chad McQueen, son of Steve McQueen, dies at 63
Chad McQueen, an actor known for his performances in the 'Karate Kid' movies and the son of the late actor and race car driver Steve McQueen, has died. He was 63.
Family of Sikh man speaks out against Toronto-area hospital after beard shaved
The family of a Sikh man from Brampton is seeking an apology, an explanation, and a promise to do better from the local hospital network after they say the facial hair of their loved one was removed without their consent.
Ottawa resident who tested positive for mosquito-borne virus dies, public health says
An Ottawa resident who died of a viral encephalitis this summer tested positive for the mosquito-borne virus eastern equine encephalitis (EEEV), the first human case of the virus in Ottawa.
Trump rules out another debate against Harris as her campaign announces US$47M haul in hours afterward
Donald Trump on Thursday ruled out another presidential debate against Kamala Harris as her campaign announced a massive fundraising haul in the hours after the two candidates met on stage.
'Keep your bags packed': Consul general grilled over $9M NYC condo purchase
After weeks of pressure, Canada's consul general Tom Clark is testifying on Thursday before a House of Commons committee about the purchase of his new official residence in New York that generated a lot of political attention over the summer.
NEW N.B. premier's asylum seeker comments spark controversy
Claims from New Brunswick Premier Blaine Higgs that Ottawa wants to force the province to take in 4,600 asylum seekers are 'largely fictitious,' says federal Immigration Minister Marc Miller.
TIFF pauses screenings of documentary about Russian soldiers due to 'significant threats'
The Toronto Film Festival says it has been forced to pause the screenings of a documentary about Russian soldiers this weekend, citing 'significant threats to festival operations and public safety.'