Scotiabank helps fill the education gap, offering interactive
fraud simulations to help customers identify financial
fraud
TORONTO, March 2,
2023 /CNW/ - According to a recent Scotiabank
Youth Fraud poll, 63% of young Canadians have not been educated in
school about financial fraud or how to protect themselves from
scammers. Three out of four young Canadians have been targeted or
fallen victim to various financial fraud scams via email, phone,
text, credit card, or social media. While March is recognized
as Fraud Prevention Month, Scotiabank is reminding Canadians of the
importance of staying alert all year long and recently launched its
redesigned Cybersecurity and Fraud Hub to help Canadians
identify and protect themselves from financial fraud and
cybercrime.
"Fraud Prevention Month is a time to bring awareness and
education around common scams and financial fraud. However, we want
this to be a conversation not just in March, but every month," said
Tammy McKinnon, Senior Vice
President, Global Fraud Management, Scotiabank. "Financial fraud
can have detrimental long-term effects and thousands of Canadians
are impacted yearly. In fact, 87% of Canadian youth say more
education is needed around financial fraud awareness. Knowledge is
power. It's up to us as a community to educate and prepare our
future generations," McKinnon added.
Scotiabank customers can sign-up for InfoAlerts to be notified
of suspicious transactions and monitor their spending with Scotia
Smart Money by Advice+. Scotia Smart Money is a free tool available
to personal banking customers using the Scotiabank mobile
app1. To learn more visit Scotia Smart Money by Advice+
.
"Scotiabank plays an important role in educating our customers
and keeping them informed about the current trends in threats or
scams, to protect themselves and their families from fraud," said
Kingsley Chak, Senior Vice President, Deposits, Savings and
Investments at Scotiabank. "Scotia Smart Money by Advice+ not only
helps you reach your financial goals, it provides insights, helps
you manage cash flow and budgeting, while also alerting you to
suspicious transactions," added Chak.
Scotiabank suggests the following Top 10 Tips to keep
Canadians of all ages safe from financial fraud:
- Sign up to get notifications from your bank about suspicious
transactions
- Do not respond to unsolicited marketing emails/texts/direct
messages
- Activate 2-step verification on your online accounts
- Add a lock screen feature on your mobile device and use
biometrics to enable access to your device and accounts
- Never divulge or share your PIN/password with anyone
- Don't write your PIN/password on a piece of paper
- Select a PIN/password that's not easily recognizable, avoid
common personal information, numbers and words, and regularly
change your password
- Update your computer and/or mobile operating system as new
versions often contain strengthened security
- Shop only from reputable online retailers and only conduct
online shopping/banking from trusted devices (i.e., personal
smartphone or home computer)
- Protect yourself from identify theft by shielding your private
information when in public and limiting the amount of personal
information you share on social media
For more tips and to learn more, visit the Scotiabank
Cybersecurity and Fraud Hub: Scotiabank.com/Security
1 To
access Scotia Smart Money by Advice+, you must have an active
personal banking retail product, have transacted at least once on
your account within the preceding 6 months and have logged into the
Scotia Mobile Banking App.
|
About The Poll
The Scotiabank Youth Fraud poll conducted by Maru Public
Opinion with its sample and data collection experts at
Maru/Blue on January 16-17, 2023,
among a random selection of 488 respondents (83 aged 18-24 and 405
parents of children aged 13-17) who are Maru Voice Canada online
panelists. The results of this study have been weighted by
education, age, gender and region (and in Quebec, language) to match the population,
according to Census data. This is to ensure the sample is
representative of the youth population of Canada. Discrepancies in
or between totals are due to rounding. For comparison purposes, a
probability sample of this size has an estimated margin of error
(which measures sampling variability) of +/- 4.4%, 19 times out of
20. Discrepancies in or between totals when compared to the data
tables are due to rounding.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, their families
and their communities achieve success through a broad range of
advice, products and services, including personal and commercial
banking, wealth management and private banking, corporate and
investment banking, and capital markets. With a team of over 90,000
employees and assets of over $1.3 trillion (as
at January 31, 2023), Scotiabank trades on the Toronto Stock
Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For
more information, please
visit http://www.scotiabank.com and follow us on Twitter
@Scotiabank.
SOURCE Scotiabank