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OIP News - Beware the Email Scams

They seem to be popping up in our in boxes more and more these days – unsolicited emails seemingly from top Canadian banks such as TD Trust, Scotia Bank and BMO.  These emails, while masking as warnings that your account has been tampered with and requires your immediate attention, they are not from your bank at all, but from Internet scammers attempting to defraud you.

The worst part is that these emails are getting more and more “believable”, with actual logos and graphics from the financial institution in question.   With careful attention, you won’t be susceptible to this.  Here are three tips to help:  

  1. Was the email addressed to you directly?  These emails typically begin with ‘Dear Account Manager’ or ‘Attention Client’.  Most reputable organizations will not send you something generic, as they have a relationship with you, and will include your name or some other piece of information that identifies you specifically.  Do not rely on your email address!
  2. Check the language.  Before legitimate organizations send emails to their clients, they tend to have their communications edited and reviewed for grammatical errors.  Hackers in foreign countries generally do not have that luxury, and tend to have short emails that are poorly worded.  If it sounds off, it probably is!  Also, large Canadian based companies generally provide the option to read/review the email in French.  If that’s not available, be wary.
  3. External links.  Often, fraudulent emails will ask you to click on a link and fill out information in order to ‘restore service,’ or ‘cancel a transaction.’  While the link can look legitimate, most often this is just the label of the link and not the link itself.  If you place your mouse over the link for a few seconds (without clicking), a popup will show you the actual link.  If the link displayed and the actual link does not match, chances are the email is bogus. 

Remember, when dealing with unsolicited emails from even the most reputable companies, be wary!  Err on the safe side and call the company directly.  One can never been too careful in this information age.   

Questions? 
Contact the OVMA Insurance Program toll free, 1.888.681.2862, ovma@csib.org