Wishing you all a HAPPY NEW YEAR… It’s definitely time to BE AWARE … 2 Very Real Stories as Warnings!

As we welcome a new year filled with hopes and possibilities, it’s crucial to stay vigilant about the rising threat of scams and identity theft that continue to plague our digital and financial lives.

These crimes are not just statistics—they are deeply personal invasions that leave lasting impacts. Consider these two stories: One individual faced a devastating “Complete Takeover” of their bank accounts. and another fell victim to a seemingly innocent email thanking them for renewing a McAfee subscription they’d never purchased.

STORY #1

The Journey From Having My Bank Accounts Hacked to Laughing Out Loud Written by an Anonymous and Concerned Reader

This past year, I experienced a devastating “Complete Takeover” of my bank accounts. What followed was a grueling battle to reclaim my financial security, a sobering look at the state of modern banking, and an unexpected laugh at the end.

The ordeal began when a man impersonating me showed up at a Scotiabank branch in Montreal. With fake identification, he opened a new Business Line of Credit in my name, transferred $50,000 from my existing Line of Credit, and withdrew $10,000 in cash. I was alerted when Scotiabank’s Fraud Department called to confirm a $10,000 withdrawal. When I informed them I was not in Montreal, they suggested I might be liable for the funds. Outraged, I emphasized that their security failures—not my actions—enabled the fraud.

At my local branch, a teller confirmed the fraudster had incorrectly answered my mother’s maiden name yet was still granted access to my accounts. I immediately withdrew $10,000 from an untouched account for safekeeping. I found that $3,000 was taken from another savings account. Moments later, another alert came through: the fraudster attempted to withdraw $100,000. I urged the staff to contact the Montreal branch, suspecting the culprit was still there.

The bank’s “Shared Responsibility” policy struck me as absurd, implying I shared blame for their failure. I canceled all online banking services, set in-person-only transaction rules, and left only a minimal balance in my account. I also spent hours transitioning all automatic payments and deposits to cash-based arrangements.

When I opened accounts at a new bank, the fraudster struck again. A teller had failed to secure the funds I deposited, leaving them accessible. Thankfully, this bank admitted their mistake and reimbursed me quickly. However, I was shocked to learn that neither bank had contacted the police. I had to coordinate with multiple police departments myself, learning along the way how easily fraudsters obtain fake IDs, passwords, and access to devices for as little as $400.

Though I wouldn’t recommend doing this, I called the fraudster directly using the phone number (and address) he had provided to the bank when he tried to have my new credit card directed to his home. He answered, confirmed he was pretending to be me, and hung up after I warned him the police were involved.

I had contacted Equifax and Transunion to put a Fraud Alert on my account. The next day, I received a call from a Credit Union in his home province because of this fraud alert. He was trying to get a loan in my name at a different institution. I advised they not lend him money and call the police.

Later, he called back, threatening that he wasn’t done with me yet. While unsettling, it gave me some satisfaction knowing he might now feel some pressure.

My local brand of Scotiabank’s handling of the situation was commendable however handling of this by the Montreal branch, where the fraud occurred, was appalling. Despite daily follow-ups, it took months to resolve a $3,000 discrepancy in my account. Only after escalating to the branch manager was the issue resolved. The bank ultimately offered me a mere $200 as compensation for months of stress and countless hours of work. I laughed when I heard the amount—though it was more of an emotional release than amusement.

This experience taught me that banks cannot be fully trusted to safeguard our money. Fraud is rising rapidly, and their systems are not equipped to handle the evolving threat. As a result, I’ve taken my financial security into my own hands and adopted several protective measures, which I hope others will consider.

Advice for Protecting Yourself Against Fraud

Here’s a list of practical steps to safeguard your finances based on what I’ve learned:

– Avoid online banking and telephone banking wholly, or whenever possible.

– If you must use online banking, “lock” your credit cards when not in use and set strict transaction limits.

– Use unique, nonsensical answers for security questions that cannot be easily guessed or found in public records.

– Close unused Lines of Credit and credit cards—these can become liabilities.

– Use prepaid cards for online purchases or recurring payments. Shut down your devices at night to minimize the risk of certain malware.

– Assume your identification may already be compromised and act accordingly.

– Consider using Equifax or Trans Union’s fraud alert services to prevent unauthorized account openings.

– Keep a paper copy of passwords, hidden securely, and change them frequently.

– Opt for in-person banking transactions when possible. Have the bank note on your profile that only in-person transactions are authorized, 
and specify the branch where you will conduct business.

– Use cash as often as possible and explore safe deposit boxes for long-term storage of valuables.

– Avoid leaving your voice pattern available for fraudsters by using generic voicemail greetings and deleting online videos of yourself speaking.

– Consider purchasing the service at Equifax and Transunion in which they contact you directly for any new loans. – Contact the police if you experience fraud, as banks often don’t.

– Enjoy the human connection of paying businesses directly and building relationships with bank tellers—they’ll remember your face, which can be helpful for security. Banks need to address the rising threat of fraud more proactively. Until then, it’s up to individuals to take precautions. My experience taught me to rethink how I interact with financial institutions. While this journey was fraught with stress, I’m grateful for the lessons I’ve learned—and yes, even for the laugh I had at the end.

Protect your family and finances wisely. We live in a new reality where vigilance is not optional—it’s necessary.

STORY #2

How I got scammed on December 4th, 2024

Written by an Anonymous and Concerned Reader who thought that she was dealing with McAfee – an American global computer security software company, when really she had been caught in a scam.

When I opened my emails there was one that said thank you for renewing McAfee for another year at $399.99. SO… in fear of being charged $399.99 for something I had never dealt with and certainly couldn’t afford, I got caught in a scam and I ended up losing $9,500. Through the sheer innocence of trust, fear and stupidity.

1st- the message from McAfee in my email said, call this number if you haven’t taken this action.

2nd – I called the number, and was told after being referred to another department that it could be returned to my account. Of course there were questions about which account I used for my transactions, and stupid me said chequing and let them access my account, even getting me to change my password which wasn’t being accepted. All were actions that I took at their directions. I even told them that I only deal with PayPal, so the PayPal logo showed up in the corner of the next screens they showed me, saying I was talking with a PayPal rep from Florida…Then I was told that I would have to fill a certain form which they brought up on my computer. I was told to be very careful in filling the information and not make any mistakes… of course a mistake was made [but not by me] so now they showed me that $10,000 had been deposited in my account because of my mistake.

Hook, line and sinker??? I felt so guilty and was so confused by then that I was hooked. They had me…Convincing me that I couldn’t close the phone connection or they would lose their money… telling me that the only way of returning it was to go to the bank and take it out of my account, make up a story to tell the teller as to why I was taking out that large amount, so with a hint from him I told the bank teller that I found a good deal on a car for my husband and I had to pay with cash….I was told again and again that the bank would lock my account if I moved the money… so with the phone line still open all the way to the bank and money in hand I had to go deposit it in their account at a special ATM, the only one being at the Petro Can on Vincent Massey. When I saw that it was a bitcoin ATM I told him that I wasn’t liking this at all… but of course he told me that it was the only way to return “their” $10,000…

Of course the Teller at the bank had given me all $100. bills and I had to put them in one by one in the machine and after every 6th bill to scan a new QR code…………..but keep $100 for myself for all my troubles, my honesty and my kindness for making sure he didn’t lose his job…Red flags??? Red flags??? Red flags??? Red flags??? So many…

How could I be so dense. Messages of scam kept coming up but I was fearing having to pay for the darn bill from McAfee and how to pay them back for my mistake. In retrospect I feel like I was hypnotized because I was in a trance that I couldn’t shake.

P.S… I have since learned that the $10,000 was taken as a cash advance from my own Line of Credit I now have to change my banking info, my cell phone info, my passwords, probably even my email address. The $10,000 is more than half of the little nest egg I was keeping for emergencies. Retired with only a government CPP and Old Age Pension to count on, I will never be able to replace that money, it makes me mad and very sad.

In retrospect: *I had never dealt with McAfee I should never have phoned and engaged.

*how did I not know that I was giving them access to my banking

*why didn’t I phone my bank << thought of it and tried but of course when you call the 800# you get a computer with all kinds of questions before they link you>>

*I was kept on the phone the whole time with an Adam Stevens @ PayPal in Florida??????? even on my ride to the bank to withdraw the $10,000…

and why didn’t I refuse to use a Bitcoin ATM

These experiences serve as sobering reminders that scams can happen to anyone, anywhere. As we move forward into 2025, let’s prioritize educating ourselves and sharing knowledge to protect each other.

Have you or someone you know fallen victim to a scam or identity theft? Sharing your story might help others avoid similar pitfalls. Let’s start the conversation—because awareness is the first step toward prevention. You can Email us at: [email protected]