The majority of Canadians (81%) are worried about financial scammers despite banks’ monitoring and detection tools, says a recent TD poll.
It finds they’re most anxious about identity theft (84%), as well as online (81%), credit card (80%) and debit card (79%) schemes.
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When a client’s identity is stolen
Protect your identity on smartphones
Despite their fears, however, many of your clients may be making common mistakes. This includes lending out their debit and credit cards (17%) and providing credit card numbers to phone salespeople (12%).
Further, some Canadians (9%) carry their bank passwords in their wallets, with nearly 90% failing to change passwords regularly.
Take the time to educate clients by sharing these links:
Canadians under-rate fraud risk
Victims of financial fraud often approach law-enforcement authorities, financial institutions and credit rating bureaus. However, few think of turning to the people responsible for their finances: their advisors.
Canadians engaging in risky behaviour
Almost half (45%) of 18-34 year olds are taking risks with their credit card information.
Fraud slipping past Canadian regulators
Canadian exchanges—when compared with those in the U.S. and U.K.— report and litigate the lowest percentage of financial fraud cases each year.
Will RCMP monitor electronic trades?
High-frequency trading in the U.S. is getting a lot of heat from the FBI and SEC, which has teamed up against potentially manipulative trading practices.
4 anti-fraud tips for business owners
Having anti-fraud measures can decrease the amount and duration of employee fraud schemes. Here’s some tips for your business owner clients.