Canadian Bankers Association

Canadian Bankers Association

April 21, 2011 09:17 ET

Fraudster Impersonating Canadian Bankers Association to Obtain Personal and Financial Information

TORONTO, ONTARIO--(Marketwire - April 21, 2011) - The Canadian Bankers Association (CBA) today warned the public that fraudsters have been phoning households pretending to be a CBA representative and requesting personal banking and credit card information. The CBA is advising the public that it does not have direct contact with bank customers or their financial information and the Association would never make phone calls or send e-mails asking for personal or financial information.

"It's important that Canadians know that neither the CBA, nor any bank, will ever call an individual to request personal banking information such as PINs, passwords or credit card numbers," said Maura Drew-Lytle, Director of Communications at the CBA. "The CBA does not offer any financial products or services and never contacts bank customers directly."

Anyone who thinks they may have provided personal banking or financial information to a fraudster should contact their bank to report the matter as soon as possible and can also contact local police. Once reported, banks will take the appropriate steps to protect customers and their accounts from fraudulent activity.

"As a rule, individuals should be cautious about who they share their personal information with," said Ms. Drew-Lytle. "If you receive a call from someone who claims to work for the CBA or your bank and you are uncomfortable or at all suspicious, hang up and contact your bank using the phone number on the back of your debit or credit card, on your statement or a published number you have looked up yourself."

As part of a legitimate conversation with a financial institution, a customer may be asked verification questions so the bank can ensure that they are speaking to the account holder. However a bank will never ask a customer to provide their Personal Identification Number, banking passwords or account numbers.

The CBA has reported this incident to police and the Canadian Anti-Fraud Centre.

For more information on what banks do to protect their customers from fraud and the simple steps customers can take to protect themselves, visit the fraud section of the CBA website at

The Canadian Bankers Association works on behalf of 51 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 260,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada's economy. The Association also promotes financial literacy to help Canadians make informed financial decisions.

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