Advice & Information
Canadians are the biggest debit card users
in the world on a per capita basis. In fact, in the year
2000, direct payment surpassed cash as Canadians' preferred
way to pay for purchases. And while debit cards continue
to be safer and more convenient than carrying around cash,
their popularity has made them a target for a number of
frauds and scams.
Here's what Industry Canada's Consumer
Protection website recommends you should do to keep your
debit card safe and sound.
Your PIN is their "in".
- Never disclose your PIN to anyone including
family, friends, financial institution employees, or law
enforcement agencies. If you suspect that someone knows your
PIN, change it immediately or contact your financial institution
to cancel the card.
- Avoid writing down your PIN. If you must
do so, make sure that it is well disguised, for example,
by re-arranging the numerals or substituting other numerals
or symbols.
- When selecting a PIN, do not use obvious
information. You could be liable if you use your name, address,
telephone number, date of birth or social insurance number.
Don't get side-swiped.
- Never let your debit card out of your
sight; swipe the card yourself but if you can’t - watch
to make sure that it is not being double swiped.
- Watch out for "shoulder surfers"
- people who read your PIN as you enter it. Use your hand or
body to shield the PIN pad to prevent others from seeing
you enter your PIN. If anyone tries to distract you at
a banking machine, complete what you are doing and retrieve
your card before talking to them.
- Only conduct debit transactions when and
where you feel secure. Deal with businesses and people you
are familiar with as much as possible.
- After completing a transaction remember
to take your card and the transaction record.
Check please!
- Regularly check your statements or passbook
updates and look for any discrepancies or suspicious transactions.
- You may want to ask your financial institution
to reduce your daily cash withdrawal and daily purchase limits.
- Set up telephone and/or internet banking
so you can check your account balances regularly.
- Get a Credit Bureau report annually to
see if anyone else is using your name to get credit.
GUARD AGAINST THE LATEST TRENDS IN THEFT AND FRAUD
Identity Theft is a serious crime. It can cost you time and money and can destroy your credit and ruin your good name. Identity Theft is the broad term used to describe the fraudulent method of stealing personal information (such as birthdates, names, credit card numbers, PINs and bank account information) in order to impersonate you and use your financial resources.
Your Credit Union wants you to be aware of how Identity Theft can happen so you can keep your information safe! The methods used are quite varied, but ALL are sneaky.
- Dumpster Diving - rummaging through the garbage to steal bank statements, phone bills and other paper with your personal information on it.
- Phishing – sending you a fake email or phoning you to request confirmation of your banking or credit card information.
- Skimming – Stealing credit card or debit card information and your PIN by swiping your card through an electronic data storage device, or viewing your PIN entry with hidden cameras.
- Diversion – They change your address without your knowledge and have bills and paperwork sent to them.
- Stealing – They steal your purse or wallet and use all the information enclosed there.
PROTECT YOURSELF
- Shred personal mail of all sorts.
- Guard your Cards. Watch everything and every person who touches them. Shield your PIN.
- Never give out personal information on the phone, in an email or on the unsecured Internet websites.
- Never click on links sent in unsolicited emails. ALWAYS type in a web address you know. Phishing emails look good and can be hard to spot.
- Use firewalls, anti-spyware, and anti-virus software to protect your computer. Keep the software up-to-date.
- Don’t use an obvious password like your birth date, or your mother’s maiden name.
- Keep your personal information in a secure place at home, especially if you have roommates, in-home employees or have hired contractors.
- Monitor your financial accounts and billing statements. You will immediately notice if bills do not arrive on time or if you receive unexpected account statements.
Your Credit Union will never request personal information in an email or by telephone. We already have it! If you are the target (or already a victim) of an Identity Theft attempt, please call your branch and the police. There are immediate steps to take that can help protect you!
