Every year, thousands of Canadians fall victim to fraud, losing millions of dollars. According to the Government of Canada, as of January 31, 2020 there have been 3,493 Canadian reports of fraud, 2,020 victims of fraud and $4.2 million lost to fraud. 

Most people don't think it could happen to them, but fraudsters use sophisticated ways to target people of all ages. The impact of fraud on individuals, families and businesses can be devastating. Fraud Prevention Month (#FPM2020) is an annual campaign with a theme to help individuals recognize, reject and report fraud.  

Celero has compiled some resources for you learn more about fraud prevention to reduce the risk of fraud to your credit union, employees and members. 

Recognize 

• • How to protect your credit union members from scams 
  • Cyber risks surrounding online banking  
  • New releases on scams and fraud as reported by the Royal Canadian Mounted Police  
  • Take this short phishing IQ test to see if you can identify if an email is legitimate or a phishing scam 
  • The Canadian Anti-Fraud Centre collects information on fraud and identity theft and provides information on past and current scams affecting Canadians. 
  • Consult recent consumer alerts, test your fraud-fighting skills and learn more about common frauds with the anti-fraud toolbox  
  • Get Cyber Safe Guide for Small and Medium Businesses - This guide is designed to help Canadians who own or manage a small or medium business understand the cyber security risks they face and provide them with practical advice on how to better protect their business and employees from cybercrime.
  • Read the list of scams that are currently affecting businesses in Canada 
  • Recognizing CEO fraud  
  • Recognizing phishing scams 

Reject 

• • Report phishing scams right in Outlook with KnowBe4 
  • Cyber Security education and training for employees  
  • Dark Web ID Credential Monitoring 

Report 

• • How to report fraud to the Canadian Anti-Fraud Centre 
  • Report a technical support scam to Microsoft 
  • Reporting fraud to the Financial Consumer Services Commission  

Let us know on Facebook, Twitter, LinkedIn or Instagram any other actions you take to prevent fraud at your credit union and speak to your Celero Account Executive for more information about making your credit union cyber resilient.  

Subscribe to Celero Insights.  

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