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Here you will be learning more about credit and debit card fraud. You will learn about the different ways it could happen, how you can prevent it from happening and what to do if it were to happen to you.

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This article describes how credit card fraud can happen to you, steps you can take to prevent it from happening, what to do if you have lost your credit card and what you should do if you become a victim of credit card fraud. Credit card fraud can happen in a variety of ways such as someone finding your credit card statements in the garbage, or even through hacking of companies that you have made online purchases from. Some ways you can help prevent credit card fraud is by keeping your credit card statements in a safe place, and when online shopping you should only use websites that are trusted and secure.  If you lose your credit card you should report it to your bank right away. If you become a victim of credit card fraud you should make note of when the fraud happened and what the fraudulent transaction was. You should also report any fraud to the Canadian Anti-Fraud Centre.

We chose this article since it educates you about credit card fraud as well as how to prevent becoming a victim of it. One thing that we learned from this website is that credit card fraud can happen from people stealing your credit card statements.

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Recognizing, preventing and reporting credit card fraud.

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This graphic shows how there can be machines that thieves use to take the information from your debit card or credit card which can make you a victim of fraud.

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This graphic shows the average loss for each account in Canada due to credit card fraud. It also shows the amount of loss in $CAD which was 366 million.

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This video talks about the amount of credit card fraud that happens during the holidays during Christmas shopping. What had happened was someone had gotten information from the victim in regard to his TD credit card. This person then committed identity theft to secure a duplicate of the credit card/account. Then the person had committed credit card fraud and went shopping at several different stores. The victim then realized this after receiving his credit card statement.

We chose this video because it is important to protect your information and monitor your credit card accounts. This is very important to monitor and be careful of your information and to review your account summaries, during times you may be most vulnerable such as the holidays.

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Credit card fraud made easy | Watch News Videos Online

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Watch Credit card fraud made easy Video Online, on GlobalNews.ca

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In this video multiple people of credit cards had their cards stolen that had the feature called tap and also the swipe and sign. The theft was committed by people who had stolen the physical credit card where then they had made purchases on the card. This can also happen when someone swipes the card and signs off on it, sometimes people do this to avoid inserting and using the pin code. Also, in this video credit card fraud was made when someone had signed a financing contract which was later then changed, and the card owner was getting his card charged in amounts he did not agree to.

We chose this video because credit card theft can happen even without stolen identity. We personally think this is the easiest way of credit card theft. Now with tap features that have been out for a long amount of time now, this makes it quite easy to make purchases without any passwords or authorization. It is important to be sure you are keeping your cards safe and protected in a wallet and to be organized with your cards.

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How to protect yourself from credit card fraud

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This video is about a retailer credit card fraud, such as having a credit with a retailer such as Rona or Lowes where you can get credit cards for purchases within the store. What had happened here was someone had purchased something online with the victim’s credit card, they then went to Rona and picked up the item and finalized the purchase. Rona did not call the police because of safety. She then had to collect video evidence to pursue the law suit.

We chose this video because we know that large retail stores that sell expensive home items often have a credit card to offer to pay off your large purchases. We need to be vigilant when having credit cards with retailers and need to take safety precautions and always review your accounts even if you are not making purchases at these stores frequently.

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In this video it shows a customer who is purchasing large ticket items in an electronic store. It shows the weird ways that the customer is acting in respect to making the purchases. He then has a load full of purchases and is ready to purchase them after he was acting suspicious with the employees, giving them the hint that he may not be using his own credit card. The employee then pulls the clerk aside to talk to her about if he may be committing credit card fraud.

We chose this video because a lot of people who are in school and work part time often work in retail. It is important if you are also a worker to look out for the signs of the way people are acting and how they are purchasing the items. We know from our experience in working retail that this stuff can happen often and we may be able to prevent a victim from credit card fraud if we look out for warning signs.

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This article describes how debit card fraud can happen, how to prevent it from happening and what to do if you become a victim of debit card fraud. At the beginning they explain that the way debit card fraud happens is when your personal identification number also known as your PIN or your debit card information gets taken without your permission. They also give examples of how someone can steal your debit card information one of the ways they listed was by a device the records the information when you swipe your card. Then they state how you should always protect your pin and keep your debit card in a safe place. At the end of the article they explain that if you are a victim of debit card fraud you should report it to the Canadian Anti-Fraud Centre.

We chose this article since it provides details about debit card fraud and it also gives advice on how to prevent yourself from becoming a victim of debit card fraud. One thing that we learned from this website is to always take your receipt when you finish a transaction at an ATM.

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How debit card fraud happens

Debit card fraud happens when someone steals or uses without your permission your debit card or debit card information. Your information or your card is used to:

make a purchase in a store

make a purchase or transaction online

withdraw cash from an automated teller machine (ATM)

withdraw money with an in-store purchase

A person might steal your debit card information by:

swiping your debit card through a device that copies the information stored on the magnetic stripe on the back of your card

looking at your personal identification number (PIN) over your shoulder when you're using your debit card

sending you a fraudulent email asking for your banking information (also called phishing)

using a device that jams your card in an ATM. A helpful stranger then suggests that you try to put in your PIN a few times. When the card remains jammed, this person later removes your card and has your PIN

Protect yourself from debit card fraud

Debit cards issued by financial institutions have a computer chip that makes transactions more secure. The computer chip works with your PIN to make sure you give permission for each transaction. This helps protect you against fraud if someone steals your card.

There are also certain actions you may take to protect yourself from debit card fraud. Follow these tips to protect your debit card and your personal information.

Keep your PIN secret

Choose a PIN that is hard to guess. For example, avoid using your birthday, Social Insurance Number, address or telephone number as your PIN.

Be sure to keep your PIN secret:

never share your PIN with another person. Do not even share it with a family member or partner

memorize your PIN rather than writing it down. If you write it down, keep it in a safe place, away from your card or wallet

change your PIN often

Contact your financial institution and change your PIN immediately if you suspect someone knows it.

If you share your PIN with someone, you may be responsible for transactions you haven't made or approved.

Reduce your daily limit

A daily limit is the amount of money you may spend or withdraw from your account each day. It applies to both ATMs and in-store transactions.

Contact your financial institution if you think your limit is too high.

Protect your debit card and your debit card information

To better protect yourself from debit card fraud, you may also:

keep your debit card in a safe place

never lend your debit card

insert your card rather than swiping it during a purchase

hide the terminal or ATM keypad when you enter your PIN

keep your debit card in sight at all times when making a purchase

take your debit card and transaction receipt with you once you've finished a transaction

retrieve your card quickly after a transaction. Complete your transactions before answering anyone trying to get your attention

check your account statements often to make sure all transactions are correct

keep paper and electronic copies of your account statements and put them in a safe place

contact your financial institution right away if your card is lost, stolen or stuck in an ATM

If you're a victim of debit card fraud

If you're a victim of debit card fraud, take the following steps:

1. write down what happened and how you first noticed the fraud

2. contact your financial institution right away to tell them about the fraud

3. take note of whom you talked to and when you spoke to them

4. keep all documents that you think might be helpful when the police investigate the fraud

5. contact your local police service to file a complaint

6. if you believe a company (for example, your telephone company) has been hacked, contact it

Report the fraud to the Canadian Anti-Fraud Centre

The Canadian Anti-fraud Centre includes partners from the Royal Canadian Mounted Police, the Ontario Provincial Police and the Competition Bureau of Canada. It is the central repository for information about fraud.

Contact the Canadian Anti-Fraud Centre.

Related links

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debit card; fraud; personal finances; banking;

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Debit card fraud is when someone steals both your PIN and debit card or debit card information and uses it without your permission. Learn more:

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Website #3 - Statistics of Canadians who have fallen victim to fraud 

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Website #3 - Statistics of Canadians who have fallen victim to fraud 

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This article goes in depth about the percentages of Canadians who have become victims of fraud. It states that in 2019 around 45,000 Canadians were victims of fraud which led to more than $96 million being lost reported by the Canadian Anti-Fraud Centre. A survey that they conducted had found that in 2019, 74 percent Canadians have been visiting and using online websites to purchase items.  They also touch on other surveys that they have completed for Canadians sharing their lives on social media, and how many Canadians want to learn more about fraud. The website then lists ways that you can prevent fraud such as creating stronger passwords, shredding personal documents, and watching your credit score.

We chose this article because it gives the statistics about how many Canadians have become victims of fraud in 2019. This article makes you aware that fraud is a very common thing in our society and that Canadians need to educate ourselves more on how to prevent the fraud from happening. One thing we learned is that from the survey that they conducted, 54 percent of Canadians have been educating themselves about fraud using news reports.

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Thirty-four per cent of survey respondents have personally experienced fraud, with 18 per cent saying they were victims of credit card fraud and five per cent saying they were subjected to online fraud (Getty Images/ courtneyk)
In 2019, nearly 45,000 Canadians fell victim to fraud, losing more than $96 million, according to the Canadian Anti-Fraud Centre. Yet, according to CPA Canada's 2020 Fraud Survey, many Canadians continue to use unsafe and outdated techniques to protect themselves and their personal data.

As per the findings, 34 per cent of survey respondents have personally experienced fraud, with 18 per cent saying they were victims of credit card fraud and five per cent saying they were subjected to online fraud. The latter figure will likely rise as people do even more over the internet, says Claudiu Popa, principal risk adviser at Informatica and author of The Canadian Privacy & Data Security Toolkit for Small & Mid-Size Enterprises.

The survey found that 74 per cent of Canadians visited or bought items from web-based retailers in 2019, while the same number bank online. "The frequency in which you carry out online transactions increases your risk, especially because Canadians are not using the most secure methods and systems," says Popa.

As well, 70 per cent share their lives on social media. "With more of our daily activities going online, the ability of fraudsters to take advantage of unsuspecting Canadians increases," adds Doretta Thompson, CPA Canada's Financial Literacy Leader. "Devices such as smart locks, home security cameras, laptops and even smart TVs can be infiltrated and compromised with access to the right information."

While Canadians are learning more about fraud-54 per cent said they're learning how to protect themselves from news media reports, while 47 per cent said they're getting educated from their financial institution-many still have trouble recognizing fraud, says Popa. They still find it hard to differentiate a real email from a phishing scam, especially as fraud-related emails mimic real ones so well, while those fake Canada Revenue Agency phone calls are frightening enough to scare just about anyone into handing over their personal information.

One problem is that for individuals, these fraud events occur in isolation. They get one email or one phone call and so they don't recognize how these hackers work. "When you're seeing one scam at a time, you don't have the big picture perspective that allows you to see patterns and anticipate how these things are going to turn out," says Popa.

So, what can you do to make sure you don't become a fraud victim? Here are some ideas.

1) CREATE BETTER PASSWORDS

The first step is to strengthen your passwords. Many people still choose an easy-to-figure-out string of letters or numbers. Popa says to use different passwords for different sites-something most people don't do. Consider online password managers, which can help you securely keep track of your passwords or, at the very least, write down your passwords on a piece of paper, which according to CPA Canada's survey, only 22 per cent of people do. He also suggests using two-factor authentication, which is when you have to enter a code sent via text along with a password when logging into a site. Accounts that have two-factor authentication enabled are much more difficult to break into, he says.

2) REVIEW YOUR TRANSACTIONS

One of the easiest ways to detect fraud is to monitor your credit card transactions. An unexpected charge could be a sign that something nefarious has occurred. Fortunately, 87 per cent of Canadians surveyed do review their accounts monthly. However, implementing real-time transaction alerts, which many banks now offer, makes it even easier to determine if a bank account has been breached. [See Does a credit card charge look suspicious to you? Here's what to do]

3) SHRED PERSONAL DOCUMENTS

While Popa says there aren't as many dumpster diving fraudsters as there may have once been, it's still important to shred any documents that contain personal and sensitive information. As soon as a document goes into the garbage, it's ripe for the taking and it may even be considered public if it's found off your property. You never know where your information might end up, he says.

4) WATCH YOUR CREDIT SCORE

It's a good idea to know your credit score-36 per cent of Canadians do not, according to the survey-because any change in that score could be a sign that a fraud has occurred. "Be aware of the changes in your score," says Popa. "You want to see if there's an abnormality." Credit monitoring agencies Equifax or TransUnion Canada can send you one free report a year, while you can also sign up for notifications that can alert you to a potential fraud.

5) SCREEN YOUR CALLS

With more scams stemming from phone calls and texts, it's more important than ever to keep your contacts up to date. Don't answer calls or texts from unknown numbers-if it's a real person they'll leave a message. Currently, 37 per cent of Canadians do not screen calls from questionable numbers.

STAYING VIGILANT

While hackers are always finding new ways to steal money from unsuspecting people, Popa says that Canadians are also getting savvier and are doing a better job at detecting fraud. "People are more aware and more concerned," he says.

With an increase in the number of people reporting breaches, it helps others better understand what's happening, while continued fraud-related education will help people detect potential scams.

READ THE SURVEY
The CPA Canada 2020 Annual Fraud Survey was conducted by Nielsen via an online questionnaire, from January 24 to February 5, 2020 with 2,013 randomly selected Canadian adults, who are members of their online panel.
Take a look at CPA Canada's 2020 Fraud Survey for further insight on what Canadians are lacking in terms of protecting themselves and their personal information. Also, find out the four things you need to know about identity theft and how to stay vigilant 24/7.

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34 per cent of Canadians have fallen victim to fraud: survey

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Thirty-four per cent of survey respondents have personally experienced fraud, with 18 per cent saying they were victims of credit card fraud and five per cent saying they were subjected to online fraud (Getty Images/ courtneyk) In 2019, nearly 45,000 Canadians fell victim to fraud, losing more than $96 million, according to the Canadian Anti-Fraud Centre.

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Website #4 - Thieves spending thousands off stolen credit cards

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Website #4 - Thieves spending thousands off stolen credit cards

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This article goes in depth about how quick thieves can spend your money when stealing your credit card or debit card. This article lists various ways that people in Toronto have had their cards stolen from them. One of the cases that was mentioned in this article is how a man from Toronto had his wallet stolen and within 30 minutes $30,000.00 was spent at the Yorkdale Shopping Centre. The Toronto Police believe that these cases of fraud are part of an organized crime ring. The police also state how these individuals will go and steal cards from people and then spend as much as they can until the card stops allowing them to spend any more money.

We chose this article because it makes you more aware about how easily your wallet can be stolen and how fast thieves can spend the money on your cards. One thing that we learned from this is the amount they can spend in a short period of time. In one case they spent $19,000.00 in 27 minutes.

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Police have revealed how thieves are spending thousands of dollars from stolen credit cards within hours after another victim came forward claiming he was targeted while enjoying lunch with friends.

Mississauga resident Domenic Sicilia said he was at JOEY at Sherway Gardens on Sept. 3 when his wallet was snatched from his bag that was hanging on the back of his chair.

"I went inside, sat at a table and my buddies were facing me. We order food and talk and then I notice my bag is missing," Sicilia told CTV News Toronto on Friday.

"We called the manager over and he checked the cameras and when he came back he told me my bag was stolen."

"I look at the video and this couple walks in, comes and stands directly behind me by the bar. You can see the guy looking at the back of my chair, then slowly comes closer."

An image of a credit card is seen above. (File image)

"I lean over, cut my chicken, and then the man steps in, grabs the bag and leaves. Within an hour, things are getting hit everywhere."

The 57-year-old said $40,000 was spent from "Scarborough to Brampton to Mississauga" in only a few hours. Among the charges was $7,000 at Apple, $3,800 at Microsoft, $980 cash advances on at least five credit cards and thousands in separate transactions at gas stations.

Sicilia said while the bank has refunded almost all the money, he's now worried about identity theft.

"It's terrible, it's a massive inconvenience," he said. "They have my address they know where I live."

Earlier this week, a Toronto man said he lost $30,000 in 30 minutes after his wallet was stolen and taken on a spending spree at Yorkdale Shopping Centre.

A businessman working in Toronto's financial district said he was scammed $19,000 in 27 minutes after his was pickpocketed on the way to lunch.

Toronto police Insp. Peter Callaghan, with the financial crimes unit, told CTV News Toronto on Friday that these thefts are part of organized crime rings.

"Organizations that one time would be involved in other crimes like violent crime and robberies are doing this," Callaghan said.

"This is a better target because they get a quicker return on their work. As soon as they have the cards they head to places and go until the cards stops."

"It's organized crime. They are making a lot of money doing it and the disincentives are low."

"Once they guess your pin, they're in. And a lot of us have the same pin for everything."

Callaghan said the thieves spend money at stores that will not raise suspicion from employees.

"There is thought that goes into this," Callaghan said. "They're not stupid, they realize, for example, it's a good time to go to Apple."

Police said the thieves go to stores where they will not raise the suspicions. (File photo)

"It's not unusual for people to get a new iPhone. Even buying multiple phones wouldn't draw notice of the employees because lots of people are buying them."

"They come in and buy a computer in September, maybe saying a child is heading to university. Those things aren't going to necessarily attract attention of employees."

Callaghan said police haven't seen an uptick in these financial crimes but "unfortunately it happens frequently" and people need to take the proper precautions.

"We've all heard the crime prevention things to do and sometimes they're inconvenient but those inconveniences are there to protect us and we have to accept that."

"If you have multiple cards you should have multiple pin numbers."

"Most financial institutions and cellphones allow you to set up notifications on your phone so every time you make a transaction it comes up."

"At the very least people could see when the spending starts and shut down their cards."

"But it's a tough issue and we appreciate that."

Major credit card companies have zero-liability policies for customers. (File image)

In Canada, major credit card operators, like Mastercard and Visa, have zero-liability policies to protect customers from fraud.

"Banks in Canada take all types of frauds and scams very seriously and will usually make their customers whole if they are victims of debit or credit card fraud," Mathieu Labrèche, a spokesperson for the Canadian Bankers Association, told CTV News Toronto.

"Customers who think they have been a victim of credit and debit card fraud should contact their bank immediately, as well as their local police and law enforcement."

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Police reveal how thieves are quickly spending thousands off stolen credit cards

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Police have revealed how thieves are spending thousands of dollars from stolen credit cards within hours after another victim came forward claiming he was targeted while enjoying lunch with friends. Mississauga resident Domenic Sicilia said he was at JOEY at Sherway Gardens on Sept.