Equifax Says 8,000 Canadians Affected

• putting in place robust passwords that aren’t the same at each website,
• shredding documents that don’t need to be saved,
• monitoring our accounts for out-of-the-ordinary changes or charges.  On-line banking should be looked at daily and
• immediately deleting emails that don’t feel right.

Don’t be hesitant to call your credit card company, bank or me if something looks new or weird

One threat that I increasingly worry about are telephone scams
Telephone scams are growing in volume and sophistication.  What specifically concerns me is the human element.  When we are changing our passwords or monitoring our accounts we are in control – we are rational.  Scammers are fluent in the the language of persuasion and can sway us into feeling fear, guilt or powerlessness.  They may have one piece of personal information that allows them to appear legitimate.

Many claim to be financial institutions, in particular CRA, stating that you have an overdue balance.  We can feel unsure when a financial institution calls with negative news and want to quickly resolve the issue.  What we do know is that CRA and most other financial institutions won’t make call outs around sensitive subjects.  They prefer mail.  If they do call, they generally won’t ask for personal information.  Counterintuitively, some scams are not looking for a cash payment.  Rather, they are looking to ‘verify’ your identify and gain more personal information.  In these cases, the call may end with the issue being ‘settled’.  You feel good at the end of the call but they have gained more information about you.

You are always free to call the institution back using the contact information on their legitimate website.  The agent calling you should understand and support your decision.  A negative reaction only supports the potential illegitimacy of the call.

If you have questions about your Assante related materials or any that of another financial institution please let me know.