1. Phishing
   What Is Phishing?
   How Do They Do It?
   Who Is Vulnerable?
   What Can I Do To Protect Myself?
   What Do I Do If I Fall Prey To This Scam?
   
2. Identity Theft
   Identity Theft: Could it Happen to You?
   Are you a Victim?
   Identity Theft Statement - What is it?
   Minimize The Risk.
   Tips on how to minimize your risk.
   
3. How can I recognize a scam?

a) What Is Phishing?
Phishing is an e-mail/internet scam used by fraudsters to collect sensitive financial information from unsuspecting members of the public. Phishers usually impersonate financial institutions and may use an unsolicited e-mail or web site to request vital personal and financial information such as account numbers, credit card numbers, account usernames and passwords, and social insurance numbers. The scam artist may then be able to use this information to charge items to your account or borrow money under your name.

b) How Do They Do It?
A phishing scam usually works like this: You receive an e-mail claiming to be from your financial institution asking you to provide them with personal financial information for a variety reasons. Phishers may tell you the reason is to register you for a new service, protect you from fraud, update or verify your information due to a security or computer problem, award you a prize, or sign you up for a special deal or promotion.

You may then be asked to click a link to be directed to a web site where you can provide the requested information, fill out a form or send the information by replying to the e-mail. Coast Capital Savings would never ask you to provide sensitive financial information by e-mail.

c) Who Is Vulnerable?
Everyone. Phishers are becoming increasingly sophisticated in their tactics and have successfully targeted and scammed even savvy internet users. Your risk of becoming a victim to phishing is not linked to age, race, income or geographical location. By hijacking the trusted brands of well-known financial institutions, phishers are able to convince up to five per cent of their target victims to respond to them.

d) What Can I Do To Protect Myself?
There are three easy steps to safeguard yourself against phishing. STOP. LOOK. CALL.
STOP Take the time to think about the e-mail and don’t yield to the urge to respond immediately and provide the requested information because "your account will be suspended" or you’ll lose a great deal or offer if you don’t. Phishers may ask you to respond urgently to their request but no matter how upsetting the threat or exciting the offer, take the time to check out the information more closely.

LOOK
Phishing e-mails don’t all look the same. However, here a few tips to bear in mind when examining a suspicious e-mail. Examine the e-mail to see if it makes sense. Remember, Coast Capital Savings would never ask you to provide sensitive financial information by e-mail. Legitimate financial institutions already have this information in their records. Treat all such requests with suspicion. Don’t be deceived by the use of logos in an attempt to give the e-mail and web sites authenticity. Phishers may use our logo in their impersonation efforts.

You may find a link in the e-mail that leads to a cloned replica of our web site, where you’ll be asked to enter the requested information. This web site address will often start with http:// instead of https://, which is one warning sign that the site is not secure and likely fraudulent. Also, a legitimate site will have a padlock icon on the lower right corner of the screen and you should be able to view the security certificate details for the site by clicking this icon. Many phishing e-mails come with a form within the body of the e-mail, with a request to fill in the personal financial information.
In some cases, the phisher may ask you to provide the requested information by replying to the e-mail.

CALL
If you receive a phishing e-mail that claims to be from us, immediately call our Contact Centre at 1.888.517.7000 to report it. This is the surest way to confirm your suspicions and also enable us to protect other members. Our Contact Centre staff will ask you about details of the e-mail you received and communicate this to our corporate security section for follow-up. After you have called our Contact Centre, you may also wish to inform PhoneBusters, the Canadian anti-fraud call centre, at 1.888.495.8501. PhoneBusters works with Canadian and international law enforcement agencies to fight phishing and other scams.

e) What Do I Do If I Fall Prey To This Scam?
If you unknowingly responded to a phishing e-mail by providing the requested information, it is important to contact us immediately so we can take steps to protect your finances. Phone our Contact Centre at 1.888.517.7000, providing details of the e-mail and the personal financial information communicated to the sender.

Our corporate security section will immediately initiate an investigation and take steps to prevent all illegal transactions. We will contact you as soon as possible with an update on your account.

Identity Theft: Could it Happen to You?
Maybe you never opened that account, or ordered an additional card, but someone else did....someone who used your name and personal information to commit fraud. When an imposter co-opts your name, your Social Insurance Number (SIN), your credit card number, or some other piece of your personal information for their use - short when someone appropriates your personal information without your knowledge - it's a crime, pure and simple.

Are you a Victim?
The signs can be many, but typical indicators that your identity is being used include:

A creditor informs you that an application for credit was received with your name and address, which you did not apply for. Telephone calls or letters state that you have been approved or denied by a creditor that you never applied to. You receive credit card statements or other bills in your name, which you did not apply for. You no longer receive credit card statements or you notice that not all of your mail is delivered. A collection agency informs you they are collecting for a defaulted account established with your identity and you never opened the account.

Identity Theft Statement - What is it?
If you have been a victim of identity theft, the Identity Theft Statement helps you notify financial institutions, credit card issuers and other companies that the identity theft occurred, tell them that you did not create the debt or charges, and give them information they need to begin an investigation. Make as many copies of the Statement as you will need to notify all affected companies. You will need Acrobat Reader to view the statement. Acrobat Reader download (link to Acrobat download)

To print a copy of the Identity Theft Statement click here. (link to pdf file)

It you suspect that your personal information has been hijacked and misappropriated to commit fraud or theft, take action immediately and keep a record of your conversations and correspondence. The following basic actions are appropriate in almost every case.

Start a log of dates, person(s) that you spoke with and exactly what they said. Contact the fraud departments of each of the two major credit bureaus. Equifax: (877) 323-2598, for lost or stolen identification press 1, if you are a victim of identity theft press 2.
Trans Union: (877) 525-3823 Request that a "Fraud Alert" be placed in your files. At the same time order copies of your credit reports. Contact the fraud department of creditors for any accounts that have been opened or tampered with fraudulently. This may include credit card companies, phone companies, banks and other lenders. File a report with your local Police or the Police in the community where the identity theft took place. Contact PhoneBusters National Call Centre. PhoneBusters is currently central sourcing all pertinent information on Identity Theft to identity trends and patterns, information is also used to assist law enforcement agencies in possible investigations. Remember: There is no reason to be paranoid; there's just reason to be careful. If someone wants desperately to target you, they can probably get a lot of information about you -- so you just need to minimize the criminal's opportunities to get that information. You can make yourself a harder target and that the best defense. If you are a victim, do not panic, you will not be out any money. The losses will be attributed to the banks and or companies associated with the fraud.

Minimize The Risk
While you probably can't prevent identity theft entirely, you can minimize your risk. Identity theft is on the rise and it can happen to anyone. It can happen to you. By managing your personal information wisely, cautiously and with an awareness of the issue, you can help guard against identity theft.

Tips that will help minimize your risk.

1. Before you reveal any personally identifying information, find out how it will be used and if it will be shared.
2. Pay attention to your billing cycles. Follow up with creditors if your bills don't arrive on time.
3. Guard your mail. Deposit outgoing mail in post office collection boxes or at your local post office. Promptly remove mail from your mailbox after delivery. Ensure mail is forwarded or re-routed if you move or change your mailing address.
4. Utilize passwords on your credit card, bank and phone accounts. Avoid using easily available information like your mother's maiden name, your birth date, the last four digits of your SIN or your phone number.
5. Minimize the identification information and number of cards you carry.
6. Do not give out personal information on the phone, through the mail or over the internet unless you have initiated the contact or know whom you're dealing with.
7. Keep items with personal information in a safe place. An identity thief will pick through your garbage or recycling bins. Be sure to tear or shred receipts, copies of credit applications, insurance forms, physician statements and credit offers you get in the mail.
8. Give your SIN only when absolutely necessary. Ask to use other types of identifiers when possible.
9. Don't carry your SIN card; leave it in a secure place.

How Can I recognize a Scam?
It sounds too good to be true

You've won a big prize in a contest that you don't recall entering. You're offered a once-in-a-lifetime investment that offers a huge return. You're told that you can buy into a lottery ticket pool that cannot lose. You must pay or you can't play

“You’re a winner!” but you must agree to send money to the caller in order to pay for delivery, processing, taxes, duties or some other fee in order to receive your prize. Sometimes the caller will even send a courier to pick up your money. You must give them your private financial information

The caller asks for all your confidential banking and/or credit card information. Honest businesses do not require these details unless you are using that specific method of payment. Will that be cash... or cash?

Often criminal telemarketers ask you to send cash or a money order, rather than a cheque or credit card. Cash is untraceable and can't be cancelled. And, crooks also have difficulty in establishing themselves as merchants with legitimate credit card companies. The caller is more excited than you are

The crooks want to get you excited about this “opportunity” so that you won't be able to think clearly. It's the manager calling

The person calling claims to be a government official, tax officer, banking official, lawyer or some other person in authority. The person calls you by your first name and asks you a lot of personal or lifestyle questions (like how often do your grown children visit you). The stranger calling wants to become your best friend

Criminals love finding out if you're lonely and willing to talk. Once they know that, they'll try to convince you that they are your friend – after all, we don't normally suspect our friends of being crooks. It's a limited opportunity and you're going to miss out

If you are pressured to make a big purchase decision immediately, it's probably not a legitimate deal. Real businesses or charities will give you a chance to check them out or think about it.

What can I do to protect myself?
Remember, legitimate telemarketers have nothing to hide.

However, criminals will say anything to part you from your hard-earned money.
Be cautious. You have the right to check out any caller by requesting written information, a call back number, references and time to think over the offer. Legitimate business people will be happy to provide you with that information. After all, they want the "bad guys" out of business too. Always be careful about providing confidential personal information, especially banking or credit card details, unless you are certain the company is legitimate. And, if you have doubts about a caller, your best defence is to simply hang up. It's not rude – it's smart.

If you're in doubt, it's wise to ask the advice of a close friend or relative, or even your banker. Rely on people you can trust. Remember, you can Stop Phone Fraud - Just Hang Up!

I suspect that a relative or friend is being targeted by unscrupulous telemarketers. What can I do?
Watch for any of these warning signs.
a marked increase in the amount of mail with too-good-to-be-true offers frequent calls offering get-rich-quick schemes or valuable awards, or numerous calls for donations to unfamiliar charities a sudden inability to pay normal bills requests for loans or cash
banking records that show cheques or withdrawals made to unfamiliar companies
secretive behaviour regarding phone calls. If you suspect that someone you know has fallen prey to a deceptive telemarketer, don't criticize them for being naïve. Encourage that person to share their concerns with you about unsolicited calls or any new business or charitable dealings. Assure them that it is not rude to hang up on suspicious calls. Keep in mind that criminal telemarketers are relentless in hounding people – some victims report receiving 5 or more calls a day, wearing down their resistance. And, once a person has succumbed to this ruthless fraud, their name and number will likely go on a "sucker list", which is sold from one crook to another.

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