Following this announcement, the launch is expected to broaden the Canadian Bankers Association’s suite of fraud prevention tools, which already includes multiple resources for small businesses, companies, individuals, and older adults. The institution’s suite of products was designed in order to optimise the overall protection of customers against multiple types of fraud, scams, and online threads.
The Canadian Bankers Association and its partner banks, financial institutions, and companies work with law enforcement, government departments, and agencies, as well as other stakeholders, in order to educate Canada-based individuals on how to stay secure, vigilant, and informed in the overall financial landscape. Moreover, it also enables customers to adhere to safe online practices and distinguish between legitimate requests and attempted fraud.
At a time when the development of digital threads accelerates faster and across multiple markets, it's important that all Canada-based customers, especially newcomers who might not be fully aware of local laws or the specific scams that take place in the region, have the knowledge, information, and the needed resources at the disposal. These are expected to safeguard their personal and financial data, while also meeting their needs, preferences, and demands in an ever-evolving market.
The new toolkit was developed in collaboration with the Get Cyber Safe campaign, and it is set to provide important information to newcomers, aiming to optimise the manner in which they identify, avoid, and report scams.
The new information includes the possibility to recognise phishing fraud and suspicious emails or texts, protecting users against ransomware through leveraging preventive measures, understanding tax season scams and legitimate communications taking place from the Canada Revenue Agency, as well as identifying fake websites and applications that were designed in order to steal personal or financial information. At the same time, clients will have the opportunity to avoid one-time passcode scams and identify phone scams, such as fraudulent calls from supposed government officials, banks, financial institutions, and more.
All fraud prevention toolkits provided by the company are currently accessible in English and French on the Canadian Bankers Association’s website.
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