August 17, 2022

Protect yourself financially when reviewing electronic communication. Learn what to watch out for and how to use Bank Act changes to your advantage.

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Q: I’ve been getting more emails than usual from my bank and I’m not sure if the messages are legitimate. I don’t remember signing up for the alerts. A few years ago I unknowingly clicked on a fraudulent ad and my credit card was compromised, so now I try to be extra careful. It scares me a bit that I’m getting these emails about my bank accounts versus my credit cards. If my income suddenly disappeared I couldn’t pay my rent. What can you suggest? ~Maureen 

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A: Fraudsters have become more sophisticated and it has taken its toll on consumers. Canadians lost more than $375 million to scams in 2021 alone. And that number is only for the losses that were reported. Many of those duped out of their hard-earned cash are too embarrassed to admit it.  

You’re right to have noticed an increase in the number of messages you are receiving from the banks you do business with. A new Financial Consumer Protection Framework is…

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