News Release Article from  Financial Consumer Agency of Canada

Archived - Be Careful About Sharing Your Information

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With new telephone and Internet-based fraud schemes appearing regularly, the Financial Consumer Agency of Canada (FCAC) warns all Canadians to be very careful about giving out their personal and financial information over the telephone or online.

You should only share your sensitive information with a company by telephone or Internet if:

  • you contacted the company yourself, and
  • you are completely sure you are dealing with a reputable company.

Scams designed to trick you into revealing your personal and financial information can be very sophisticated as well as costly.

In one current scam, a fraudster pretends to be calling from your financial institution or a credit card company. The caller claims to be investigating fraud related to your account. These fraudsters already know much of your personal and financial information, which can make the call seem legitimate. The goal of the call is to get you to provide a piece of information they are missing, such as the three-digit security number on the back of your credit card. Once they have this security number, fraudsters will be able to make purchases using your credit card number.

If you receive an unsolicited call in which the caller asks you to provide your personal or financial information, take the following steps:

  • Ask for the caller's name, company name and department, and then end the call.
  • Find a contact number for the company. Look for it on your credit card, bill or account statement, online or in a telephone directory. Do not use a number provided by the caller.
  • Call the company and ask to speak to the person who contacted you. You should also confirm any information the caller told you, such as whether there has been any fraud related to your account.

For more tips on how to protect yourself against fraud, visit the Fraud section.

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