The information you need to protect yourself from fraud and scams

4 minute read
Protect your online privacy and security

At Kindred, we care about your privacy and security. Information can be your best defense against potential scams. It’s an unfortunate fact that there are some bad actors out there who will seek to gain access to your personal information or steal your money. They often use fraud and trickery in order to either earn your trust or to gain access to your accounts without your knowledge.

The best thing you can do to increase your privacy and security is to stay alert and up-to-date on the latest scams. That’s why we’ve put together this guide to help you learn about the most common cons, how to detect a fraud, and what you should do if you have been targeted.

Protect yourself from scams

Understanding Identity Theft

Identity theft is a serious crime that happens more than you might think. It’s important to protect yourself and your personal information from ID Theft. If your identity has been stolen, the fraudster can potentially open accounts or apply for credit in your name. They often use online channels but will even be bold enough to impersonate you with a Kindred staff member. Fraudsters are also able to steal other victim’s money or personal information by posing as a trusted source – you – with your stolen information!

Here is how you can protect yourself from identity fraud.

Phishing scams – Don’t take the bait

Phishing is the fraudulent practice of sending electronic messages (email, text, and social media) claiming to be a reputable business or someone you know in order to trick you into clicking on a malicious link or giving them personal information.

Learn how to spot the telltale signs of a phishing attempt.

Vishing scams are the new phishing

While you might be familiar with phishing scams, do you know what vishing scams are? Vishing scams call your phone, pretending to be the CRA, Carbon Tax Company, your mobile phone provider, or other “official” sounding individuals. Your may be natural inclined to be cooperative and forthcoming with these organizations, but you should also be on the lookout for potential scammers.

How to avoid being tricked.

Overpayment scams can be costly

Overpayment scams usually start when you sell an item and receive a cheque that is for a higher amount than the initially agreed upon sale price. Why would they overpay you? It’s not a bonus; it's a red flag that something isn’t right.

Find out how the scam works and how to protect yourself.

Understanding the Gift Card Scam

Scammers are always trying to come up with new and creative ways to steal your hard-earned money! One of the more common methods these days is to talk well-meaning folks into purchasing gift cards and then reading them the numbers over the phone, or texting them a photograph. Learn more about how this scam fools people. 

Look out for gift card scams.

Look out for the Grandparent Scam

One of the fastest-growing scams these days is what is known as the grandparent scam. In a typical grandparent scam, a fraudster contacts a Senior posing as a grandchild of theirs who is in some sort of trouble. This creates a strong desire to help a supposed loved one in crisis and a sense of urgency to act quickly.

Here’s how they fool you and how you can avoid getting scammed.

Protecting Your Information from Scammers

The best technique for outsmarting fraudsters is to make sure that they can never gain access to your personal information. If you do anything online, chances are you use passwords and PINs (personal identification numbers) to access your accounts with your favourite businesses. By creating strong passwords and PINs, you will make life a lot more difficult for any scam artists who are trying to steal your personal information. Don't let them hack into your accounts!

Here are some tips for creating the strongest passwords and PINs possible.

For the latest news, announcements, and updates in fraud prevention, please check Kindred Credit Union's News Page regularly to stay up to date.

If you have been a victim of a scam, report it to the Canadian Anti-Fraud Centre online or by calling 1-888-495-8501.

Kindred Credit Union

At Kindred, we believe you have a better choice for banking. We believe values and faith are central to life, and financial decisions are not values-neutral. In fact, we think financial decisions can impact the world in amazing ways—so our values are integrated into everything we do. We call this Banking with Purpose.

Search Share Newsletter: Spring 2024
What is Succession Planning? Search