Keep You and Your Money Protected

Every day Canadians are affected by crimes affecting their financial situation. Whether it is debit card phishing, identity theft, or plain old-fashioned theft there are ways to keep yourself and your money safe. Here are a few tips so you can spend your downtime this summer relaxing and not dealing with the police.

Your credit cards, cheques and ID

• Thoroughly review your monthly credit card statements. If there are charges you do not recognize, talk to the credit card company immediately – there will be a customer inquiry number on each statement.
• Try to avoid keeping large amounts of cash at home. You are better off keeping it in your banking account and accessing the cash through your debit card.
• If the envelope that your personal cheques are delivered in appears to have been tampered with, contact your branch right away.
• If your wallet or purse have been lost or stolen, inform the police, The Credit Union, credit card companies, other financial institutions and the credit bureau. Not only can your credit cards be used, but your identification could be used for other types of fraud.
• Shred or tear up statements before you recycle them.  They contain valuable information that can be used to steal your identity.

Your Passwords and Online Safety

• Incorporate both letters and numbers in your password. Avoid using your street address, license plate or phone number. A good tip would be to think up a lyric from your favourite song and use the first letter or few letters from each word in the lyric to create your password.
• Look at the prefix in the browser window when you are conducting a transaction online with sensitive personal information – “https://” or http://. The “s” indicates you’re on a secure site.
• Remember to log out of a secure website before you close your browser, this will ensure that any information is cleared from your computer’s memory.
• Do not answer emails from credit card companies or financial institutions asking you to “update” or “confirm” your information.  Rather report these emails to the companies.  Typically they are from fraudsters using a fake website or email address to get your info.  Your bank or credit card company would never send an email asking for this information.

AT the ATM

• Whenever you can, make sure the ATM you are visiting is well lit and you feel comfortable. If not go to another location (click here for THE EXCHANGE ® ATM Network locations) or get cash back from a purchase.
• Report any suspicious activity to the police.
• Do not count or handle your money openly.
• Keep your PIN in a safe place and memorize it.  Do not write it down and keep it in your wallet.
• If approached, do what the robber asks – call the police as soon as you safely can.