Avoiding Fraud

Helping you avoid fraud

Technology is constantly changing. And the more advanced technology becomes, the more diligently you need to protect your personal information. Find out what you can do to stay safe from three common types of fraud.

Phishing or email fraud

What is it?

These are emails, texts or websites that are designed to look like they are from well-known and trusted companies or organizations. However it’s really an attempt to trick you into sharing confidential information like your bank account number, social insurance number, passwords or security codes.

What do these messages look like?

Here are some real-life examples of phishing and email fraud:

“E-mail Money Transfer Alert: Please verify this payment information below…”

“It has come to our attention that your online banking profile needs to be updated as part of our continuous efforts to protect your account and reduce instances of fraud…”

“Important Service Announcement from… You have 1 unread Security Message!”

“We regret to inform you that we had to lock your bank account access. Call (telephone number) to restore your bank account.”

What should I do if I get a phishing email, text or website?

Do not respond. If you receive an email, text or see an unexpected website that claims to be from Scotiabank and asks for your personal information, ignore the request. DO NOT give out your information. If you’re unsure whether the message is truly from Scotiabank, contact us directly using information you trust or by calling 1(800) 4SCOTIA (1-800-472-6842) 1(800)472-6842

Report the suspicious request. Let us know about the fraudulent text, email or website. We can then investigate the fraudulent request and report it to the authorities, if necessary.

  • Remember, Scotiabank will NEVER send you an email or text asking for confidential information like your password, PIN, access code, credit card or account numbers.
  • We will never ask you to confirm or restore your account access through email or pop-up windows.

I think I gave my information to a fraudster. What should I do?

Call us immediately at 1(800) 4SCOTIA (1-800-472-6842) 1(800)472-6842

We will do our best to ensure your personal and banking information stays safe.

Find out more about phishing.

Cheque fraud

What is it?

There are three main types of cheque fraud: Counterfeit cheques, forged cheques and altered cheques.

What are examples of cheque fraud?

Counterfeit cheque: A cheque that was not written or authorized by the account holder.

Forged cheque: A cheque that someone else has signed in the account holder’s name.

Altered cheque: A cheque where the amount, the payee or the date has been changed without the authorization of the account holder.

What should I do to stay safe?

  • When you get a cheque, examine it carefully. Security features like watermarks and intricate designs are often built into the back of cheques.
  • Know who you’re dealing with. If you’re accepting a cheque as payment, ensure that the cheque has cleared before you give the item to the buyer.
  • Consider switching to Interac e-transfers. Electronic payment is more secure than cheques. This can be a particularly useful payment method if you don’t know the cheque writer.
Wire transfer fraud

What is it?

Wire fraud occurs when a criminal lies about a situation in order to convince you to send money through a wire transfer.

What are some examples of a wire fraud scam?

Lottery scam. A criminal will pose as an official lottery representative. They’ll say that you've won a lottery but that you have to pay taxes before you can claim your prize. They’ll direct you to an account to pay the “taxes”, and promise to give you the funds after they receive your money.

Apartment Rental Scams. A criminal might pretend to be a landlord and offer you a great apartment at an excellent price. They’ll insist that you wire money to secure the apartment. But when you do, you discover there’s no apartment, the landlord has disappeared and your money is gone.

Money laundering. Criminals want you to do their banking for them. They use a variety of lies to convince you that they're legitimate. Some will even give you money to earn your trust. By assisting criminals with re-directing electronic deposits, you could be participating in a money-laundering scheme.

How do I stay safe?

Never send money to strangers. Fraudsters promise you a financial reward to lure you into wiring money. Don’t fall for it. If you don’t know the person you’re wiring money to, don’t send any money.

Never help strangers wire their money. By re-directing electronic deposits, you could be participating in a money-laundering scheme.

Find out more simple and smart ways to protect your personal information.