How to Recognize if You’re Talking to a Scammer
Originally posted by TD Bank
You’ve likely encountered it – those calls from unfamiliar numbers claiming to be the CRA, requesting payment in gift cards or through a funds transfer. According to TD Bank, this may be a sign of fraud, an increasingly prevalent issue. Each year, Canadians fall victim to fraud, losing millions of dollars.
TD Bank advises that staying vigilant and maintaining a healthy skepticism can be your best defense against scammers. Below are tips shared by TD Bank to help you stay alert and protected.
Step One: Get Familiar with Common Scams
TD Bank highlights several types of scams that everyone should be aware of:
One-Time Passcode Scam
A scammer poses as a bank employee, requesting a One-Time Passcode to gain access to your online banking. TD Bank stresses the importance of never sharing your passcodes with anyone.
Bank Investigator Scam
Fraudsters claim they are bank employees or law enforcement officers, asking for your assistance in a supposed investigation. TD Bank recommends contacting your bank directly through verified numbers before engaging.
Grandparent/Emergency Scam
A scammer pretends to be a distressed family member, such as a grandchild, seeking financial help. TD Bank reminds you to verify these claims with a trusted contact before sending any money.
Government/CRA Scams
Fraudsters attempt to deceive victims through emails, texts, or calls that appear to be from trusted sources. TD Bank highlights the importance of examining communications carefully and never clicking on suspicious links.
Identity Fraud Scams
TD Bank warns that scammers may follow your online activity, especially when you’re traveling. TD suggests avoiding sharing sensitive travel details, such as photos of your passport, boarding passes, or vacation locations.
Phishing Scams
Fraudsters attempt to deceive victims through emails, texts, or calls that appear to be from trusted sources. TD Bank highlights the importance of examining communications carefully and never clicking on suspicious links.
Step Two: Be on the Defensive
TD Bank outlines key actions you can take to protect yourself:
Keep Your Passcodes Private
TD Bank emphasizes never sharing your One-Time Passcode, especially if you didn’t initiate the contact or activity that triggered it. Scammers may claim to be from TD or other trusted institutions.
Verify Who’s Calling
If you receive a call from someone claiming to be TD Bank, the CRA, or even a family member, TD recommends hanging up and calling back using a verified number. AI-generated voices and fake caller IDs can make scams seem legitimate.
Avoid Urgency Pressure
According to TD Bank, anyone pressuring you to act quickly should be treated with caution. Scammers often create a sense of urgency to force rushed decisions.
Be Careful with Money Transfers
If you receive a call from someone claiming to be TD Bank, the CRA, or even a family member, TD recommends hanging up and calling back using a verified number. AI-generated voices and fake caller IDs can make scams seem legitimate.
Protect Your Information
TD Bank assures customers that they will never ask for personal information, funds, access to your computer, or for you to keep secrets. TD advises that you remain wary of any such requests.
By staying informed and cautious, you can help protect yourself from scammers. TD Bank encourages customers to always verify and report any suspicious activity.
Learn more about how you can stay secure with our maintenance plans.
