Laurentian Bank: Laurentian Bank of Canada.
Interac e-Transfer is a registered trademark of Interac Corp. Used under licence.
Fraud risks during business transitions.
Fraud risks during business transitions.
When there’s a transition to a new banking experience, fraudsters may try to steal your information or money through emails, text messages, phone calls and account-related requests.
Types of fraud risks during business transitions.
Fake representative scam.
The fake representative scam involves impersonating an acquaintance, an official organization, or any other type of authority figure. This type of scam can take several forms:
Fake services or aids: The fraudster poses as a representative of a public service or charitable organization, asking for donations to fictitious causes.
Fake recruiters: In the context of a job offer, the scammer pretends to be a recruiter or human resources manager. They may charge for tests or document creation as part of the recruitment process. The fake recruiter may go so far as to tell the victim that they’ve been selected for the job. The scammer will ask the victim to carry out orders or run errands on behalf of the employer, under the pretext that this is part of the job description.
Fake agents of a company or administration: This is the method most frequently used by fraudsters. The scammer poses as an employee of a company, bank, government agency or as a police officer and requests personal information or money. The caller claims that the customer is a victim of fraud, that a family member is arrested by the police and that bail must be paid, or mentions unpaid fines or taxes to frighten the victim.
What to watch out for:
You’re asked to hand over your bank or credit cards to an individual
You’re told that someone will come to your home
You’re pressured to act quickly
You’re asked not to tell anyone
They ask for your personal information
How to protect yourself:
Don't share your personal and banking information
Don't share your passwords, PIN, Social Insurance Number (SIN), two-step verification codes or other confidential information with anyone
Don’t give your debit or credit cards to anyone
If you receive such a call, hang up and call the company or organization in question using reliable means such as the numbers found on their official web site
Request to confirm information scam.
What’s a request to confirm information scam? Fraudsters claim your information must be verified to complete the transition and direct you to a fake website or request sensitive details.
How to spot a request to confirm information scam:
You're asked to confirm or update your information
The message sounds urgent or threatens account restrictions
Requests include passwords, PIN or security codes
What to do if you suspect you’ve received a request to confirm information scam:
Don't select links in unexpected messages
Always use official websites or apps to access your banking services
Verify requests by contacting your bank directly through their website, app or call centre
Security upgrade or MFA reset scam.
What’s a security upgrade or MFA reset scam?
Scammers claim you need to reset your password, security settings or multi-factor authentication (MFA) as part of the transition.
How to spot a security upgrade or MFA reset scam:
You receive an unexpected MFA reset or password change request
You get requests for one-time passcodes or verification codes
You’re prompted to approve a login you didn't create
What to do if you suspect a security upgrade or MFA reset scam:
Never share MFA or verification codes
Decline approval requests you don't recognize
If you're unsure, contact your bank directly through their website, app or call centre
New debit or credit card PIN scam.
What’s a new debit or credit card PIN scam?
Fraudsters pose as bank representatives and ask for information related to activating a new card or setting up a PIN.
How to spot a new debit or credit card PIN scam:
You're asked to share your PIN or card security details
Someone claims they need your PIN to activate your card
You receive unexpected communications about a new card
What to do if you suspect a new debit or credit card PIN scam:
Never share your PIN with anyone
Verify requests about your bank cards by contacting your bank directly through their website, app or call centre
Reminder: Banks won't ask for your PIN by phone, email or text.
Fund transfer scam.
What’s a fund transfer scam?
Scammers claim your money is at risk and tell you to transfer funds to a safe account or approve a payment.
How to spot a fund transfer scam:
Someone says your account has been compromised, and your funds are at risk
You're asked to transfer money for safekeeping
The request pressures you to act quickly
What to do if you suspect a fund transfer scam:
Never move money because someone claims your funds are at risk
Always review the details before approving an Interac e-Transfer® request
Contact your bank directly through their website, app or call centre
Bank customer support scam.
What’s a bank customer support scam?
Fraudsters pretend to be customer support representatives and offer help with the transition to access your accounts or information.
How to spot a bank customer support scam:
You receive an unexpected request for personal or banking information
Requests for passwords, PIN or authentication codes
Pressure to stay on the line while completing transactions
What to do if you suspect a bank customer support scam:
Hang up if something doesn't feel right
Never share passwords, PIN or verification codes
Contact your bank directly through their website, app or call centre
Asset or courier scam.
What’s an asset or courier scam?
The asset or courier scam is when criminals pose as police officers, bank officials or government agents. They trick victims into handing over cash, bank cards with PIN, or high-value assets like gold and jewellery to a dispatched courier. Scammers use intense pressure and fear to force you to comply quickly.
How to spot an asset or courier scam:
Urgent claims that your account has been compromised or involved in fraud
Requests to withdraw cash, surrender bank cards or transfer money for safekeeping
Instructions to keep the situation secret from family, friends or bank employees
A courier is offered or arranged to pick up cash, cards or valuables
What to do if you suspect an asset or courier scam:
Stop communication if you feel pressured or threatened
Never hand over cash, bank cards, PIN or valuables to anyone claiming to be from a bank or government agency
Verify the request by contacting the organization directly through their website, app or call centre
Report suspicious activity to your bank immediately
Stay alert to keep your accounts safe.
If you get an unexpected request for personal information, a security code or a fund transfer, stop and verify the request before you do anything.
When in doubt, contact your bank directly through their website, app or call centre. Taking a few minutes to verify a request can help protect your money and personal information.