Fusion Credit Union - Fraud Prevention

Fraud Prevention

Fraud Facts

Online Shopping – These bright and shiny brand name offers are often listed for quick sale or for too good to be true prices. Save your money and your pride by shopping with retailers that are genuine. Research before your buy. If you do receive inferior or counterfeit products, they could pose significant health risks.

Selling Goods & Services – Is someone wanting to buy your sleigh sight unseen or offering to pay more than the asking price? Confirm you’ve received some real bucks before you fulfill their order. Be wary of requests that become overcomplicated or require you to send money before you receive full payment.

Shipping Frauds – Unsolicited text messages or emails, that impersonate legitimate shipping companies, that urgently request your personal or payment information due to incomplete shipping information, that inform you of delivery failures or packages being held for payment. Alternatively, fraudsters may request that you submit payment to their fabricated shipping company, like the North Pole Express.

Cellphone Promo Frauds – Fraudsters are calling claiming to be a well-known service provider offering to gift you with a new cellphone and discounted plan. After collecting personal information required for credit checks, they’ll order a new phone in your name. The phone may
be shipped directly to these misfits. Alternatively, the victim may receive the ‘wrong’ phone and receive a request to ship it forward to the bad guys.

Investments - Fraudsters are using social media and fraudulent websites to promote fraudulent crypto investment opportunities. They may even reach out through a random ‘wrong number’ text message. They’ll sell you on how easy it is; while they gain remote access to your device and assist you in setting up accounts. They’ll also guarantee that you’ll be feasting on profits in no time and with just a small investment to start. Research your advisor, their company and the feasibility of all investment offers. Verify that they’re on the Nice list by using the National Registration Tool (www.aretheyregistered.ca).

Romance Fraud – Can’t get your new online love to meet you under the mistletoe, but they have no problem sending you sweet nothings followed by countless requests for money? Time to pull the bow off their motives and investigate the legitimacy of every piece of information they’ve shared with you. You should never send money to someone you have never met.

Recovery Offers - These fake law enforcement or recovery specialist will claim that they can recover your financial losses from a previous fraud. They’ll make you jump through several reindeer games, all while collecting more of your hard-earned money. Report incidents of fraud

to your local law enforcement and financial institutions as soon as possible to maximize your real chances at recovery.

Gift Cards – Gift cards are a popular and convenient way to give a gift. They make great stocking stuffers; except when they’re empty! When buying gift cards in-store, make sure they haven’t been tampered with by comparing others in stock and running your finger over barcodes. When purchasing gift cards online, avoid resale and auction sites. Legitimate businesses and organizations will not request gift cards as payments; especially under pressure.

Donating – ‘Tis the season of giving and fraudsters are looking to be taking. Charity frauds involve any false, deceptive, misleading or fraudulent solicitation for a donation to a charity, association, federation or religious cause. Always ask or locate the charitable tax number and

confirm their registration with the Canada Revenue Agency - List of Charities or by phone at 1-800-267-2384. Whenever possible, donate at the source.

Prize and Vacation Notifications – What could be better than planning your escape from a winter wonderland? Winning a car, $1M, or even a free holiday vacation! First, you just need to confirm your personal information and then cover a few fees before your winnings can be claimed. Remember: if you didn’t enter a contest or raffle, you can’t win. You also can’t enter another country’s lottery without purchasing a ticket from within that country. In Canada, if there are fees associated to a prize, they will be deducted from the total winnings.

Toll Route & Infraction Phishing Text Messages - With more Canadians travelling for the holidays, fraudsters send fake text messages claiming you owe unpaid toll fees, speeding infractions, or road-use charges. These messages often include urgent language and a malicious link. Genuine toll agencies wont demand immediate payment by text message. Do not click the link and report it to the CAFC.

Identity Theft and Identity Fraud – In all the hustle and bustle of the season,
DO: keep your wallet on your person and cover your PIN;
DON’T: share passwords or provide your personal information freely.
Fraudsters love a good shopping spree; especially when they’re using someone else’s information and money. Contact your financial institutions and credit bureaus, Equifax Canada and TransUnion Canada, as soon as you notice:

Anyone who suspects they have been the target of cybercrime or fraud should report it to their local police. Also visit the Report Cybercrime and Fraud website to report online or by phone at 1-888-495-8501.

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Prevent Fraud From Happening To You

Learn how to protect your personal information and your online accounts.

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How To Report Fraud

Have you been a victim of fraud? Learn what to do and how to report the fraud.

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Fraud Resources

Learn more about fraud including current scams.

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Prevent Fraud From Happening To You

You receive a suspicious email or phone call from a stranger. What is the first thing you should do? STOP before you proceed with any requests and THINK about whether this request is legitimate. Always QUESTION whether or not the person on the other end of the phone call or email is telling the truth or is seeking to cause you harm. A few more tips....

Don't be afraid to say no

Scammers will use high pressure tactics that play on your emotions. If you receive a phone call or an email that asks you to buy something or send money right away, ask them to verify in writing. If the request does not seem legit, delete the email or hang up the phone.

Do your research

Always verify that the organization or person you are dealing with is legitimate before you take any action. Call the actual organization such as your financial institution, Canada Revenue Agency and/or your credit card company, and ask whether the request is legitimate. Beware of fake or deceptive ads that may appear online. Always verify that the company and its services are real before you make a purchase or provide information.

Don't give out personal information

Never provide personal information such as name, address, birthdate, Social Insurance Number, credit card or banking information if you receive an unsolicited phone call. If you didn't initiate the call, you don't know who you are talking to. Do not trust the information on your call display because it can be easily manipulated by fraudsters.

If you receive a suspicious message from someone claiming to be from your financial institution, contact them directly using trusted contact information. Fusion, or any other financial institution, will never ask for personal information over the phone or through a text or email.

Don't be fooled!

Fraudsters will often provide the first 4 to 6 numbers of your debit or credit card which is also known as the Bank Identifier Number (BIN). Most cards with specific financial institutions begin with the same numbers as an attempt to convince you that they are legitimate.

The government won't send you a refund via email or text message. Always look up the agencies' official contact info and initiate the communication through, such as a phone number or login directly to your account to view official correspondence.

If you are contacted by someone claiming they can help you recover stolen funds, be cautious. The Canadian Anti Fraud Centre, police and government agencies will never contact you and ask for a fee.

Beware of upfront fees

Many fraudsters will ask you to pay fees in advance of receiving goods, services, or a prize. It's illegal for a company to ask you to pay a fee upfront before they will give you a loan. In Canada, there are no fees or taxes for prize winnings.

Protect Your Computer

Install anti-virus software on your computer and keep your operating systems up to date. Never click on any urgent messages that pop up while you're browsing online. If you receive an email, be wary of clicking on links or attachments as the scammer may be trying to install a virus or malware on your computer. Legitimate computer companies will never call you and claim that your computer is infected with a virus.

How To Protect Your Online Accounts

What Makes A Good Password?

Use a strong, unique password

Length matters: Aim for at least 12–16 characters.
Mix it up: Combine uppercase and lowercase letters, numbers, and special characters.
Avoid the obvious: Don’t use names, birthdays, or common words like “password” or “123456

Never reuse passwords

Using the same password across multiple sites increases your risk. If one site is breached, all your accounts become vulnerable.
You MUST use a different password for your online banking than other services (such as email, social media, or shopping sites)

Use a passphrase

A passphrase is a type of password that uses a sequence of words or a full sentence instead of a single word or random characters. It’s designed to be both easier to remember and harder to crack than traditional passwords.
Use 4–6 unrelated words (e.g., CoffeeTigerWindowJazzMoon).
Add punctuation or numbers for extra strength.
Avoid famous quotes or song lyrics, they’re easier to guess.

Enable Multifactor Authentication

To add an additional layer of security, enable multifactor authentication on all of your online accounts and never share your code with anyone.

Check the url and bookmark it

Before logging into you account, double check that the URL is the correct one. Scammers will create fake sites to try and steal your info. If the account is one you use often, bookmark the link and always use the bookmark to access the site.

Never click on links in texts or emails until you confirm that it's legit.

Fraudsters will use a variety of tactics to try and steal your passwords in order to gain access to your online accounts. If you receive a text or email that you were not expecting, do not click on any links until you can confirm it's from a legitimate source.

Update Your Privacy Settings

Do a deep dive into your social media accounts and update your privacy settings. It's best to set your personal accounts to private so fraudsters can't use your information to scam you or steal your identity.

How To Report Fraud

If you have been a victim of fraud, your first step is to remain calm and gather all of the important information, including documents, receipts, copies of emails or text messages. Then report the incident to the proper authorities listed below:

Your Financial Institution

If the fraud affected your online banking accounts, please call your financial institution immediately. We'll work with you to ensure you accounts are properly protected and determine what steps are necessary to regain access to your online banking.

Fusion Credit Union Contacts:

Contact Your Local Branch

Phone: 1-877-226-7957

The Canadian Anti-Fraud Centre

The Canadian Anti Fraud Centre collects information on fraud and identity theft and is is a source of information regarding past and current scams affecting Canadians. The Royal Canadian Mounted Police, the Competition Bureau and the Canadian Anti Fraud Centre work together to provide news, information and resources to Canadians regarding fraud.

Canadian Anti-Fraud Centre Contacts:

Report fraud by phone: 1-888-495-8501

Local Police

Report the fraud to your local police authorities. They will provide you with a police report number which may be required to recuperate your losses if any occurred.

In addition to the above agencies, depending on the fraud, you may need to contact the following:

Credit Bureaus

Equifax: 1-866-828-5961

TransUnion: 1-800-663-9980

Credit Card Provider

Fusion Collabria Credit Cards

For more information on what to do if you have been a victim of fraud, visit the Competition Bureau and Canadian Anti Fraud Centre websites.