Doing your part to fight fraud

Working together to combat crime

Fighting fraud is something we take very seriously at BlueShore. We have extensive security systems and practices in place to protect you so you can conduct your financial affairs in a safe, private manner. While we do our best to safeguard your interests, you should also take precautions to protect yourself and your money.

We work with organizations like the RCMP, the Competition Bureau, and Reporting Economic Crime Online (RECOL) to help fight fraud and raise consumer awareness of how to spot, report, and stop it. There are many types of fraud you should be aware of, such as identity theft, advance fee fraud, online auction, credit/debit card fraud, and cheque fraud.

Keeping yourself safe

But everyone has a role to play in fighting fraud. Here are a few thinks to keep in mind and help you and your loved ones stay safe:

Be very, very careful with your Social Insurance Number (SIN)

It's an important key to your identity, especially in credit reports and computer databases. Use other types of identification when possible (and when your SIN is not required by law). Don't carry your SIN card with you.

Never disclose your Personal Identification Number (PIN) to anyone

If you do, you could be held liable for losses. No one from a financial institution, the police, government, or a merchant should ever ask for your PIN.

Be PIN smart

Change your PIN from time to time and ever assign the same PIN to all your cards; if someone steals your wallet and discovers your PIN, rest assured they'll test that PIN against all cards in your wallet.

Can't memorize all the PINs for your cards? Thoroughly disguise them. Embed them in a list of phone numbers; amend them through some formula only you would know. And never carry this list close to your card or put them together in your wallet.

Guard your PIN use

Use your hand as a shield to prevent others from observing you entering your PIN at an ATM, on a purchase terminal, or on your phone or computer. Don't use ATM or point of sale machines where you don't feel secure, and don't let your card be "swiped" twice. Always keep your card in view.

Choose difficult passwords and change them often

Memorize your passwords and never write them down or leave them in your wallet or an equally obvious place. Never share them. You may also want to consider using a digital password manager application, especially if you have a significant number of accounts and passwords to remember.

Set up notifications

You'll get a text or email message when there is suspicious activity on your online banking accounts – for example, a change made to your online personal access code (PAC). You can then take steps to investigate.

Set up multi-factor authentication

You can also set up multi-factor authentication, which adds another layer of protection to your online accounts. BlueShore utilizes 2-Step Verification for Online and Mobile Banking as another method to protect you against fraudulent activities.
 

Keep statements in a safe place

They contain sensitive and personal information. Check them as soon as they arrive to ensure all charges are correct. Shred them when you are done, using a cross-shredder rather than a strip-shredder. Or go paperless and access statements through an online portal.

Clean up the paper trail

Check all debit and credit card receipts for accuracy, then shred them. They contain part or all of your card number. After completing an ATM or debit transaction, remember to take your card and receipts. At many machines, you can also opt to not have a printout of the transaction. Many cases of identity theft have been a result of ‘dumpster diving’. And never leave receipts in your car – thieves have been known to break into vehicles looking for receipts.

Keep on top of credit reports

You can access your credit report from a credit reporting agency like Equifax or Trans Union. We recommend checking it once a year to ensure the report is accurate and doesn't include debts or activities you haven't authorized or incurred.

Minimize the cards you carry

Minimize the identification information and number of cards you carry, especially when traveling, whether locally or abroad.

Sign your cards

Sign your credit and debit cards in permanent ink as soon as you receive them.

Promptly remove your mail from the mailbox

Notify Canada Post to hold your mail if you are going to be away for some time.

Pay attention to your billing cycles

Follow up if your bills don't arrive on time.

Report all fraud

Many fraudsters rely on people feeling too embarrassed about getting swindled to report the crime. This only helps them target new victims and concoct new schemes for the future.

Fraudulent or suspicious activity can be reported to the Canadian Anti-Fraud Centre, through its website at www.antifraudcentre.ca or by telephone at 1-888-495-8501.

If you feel your BlueShore Financial account may have been compromised due to fraud, please contact us immediately.