Credit Fraud
Peek a Boo – Who’s Calling?Telephone call display (‘Caller ID’) is practically a standard feature of today's telephone service. Some phones have one line displaying the caller’s phone number, while others have two lines with the name and phone number of the individual or organization calling.
Caller ID is something we take for granted. If the phone rings, we look at the display and decide whether or not to answer. A trust factor exists in that we believe the number and name we see on the LCD is who is displayed. Not to mention how irritated we get when we see ‘Block Caller’ or the suspense to find out who it could be?
Have you ever stopped to wonder if the LCD is correct? Is it really your bank calling? Or is it someone pretending to be your bank - trying to fraudulently acquire your personal information. Have you stopped to wonder if that female sounding bank manager is really a woman or a man disguising his voice? Possible? Yes !!
Over the years a growing concern is individuals ‘spoofing’ (taking over or manipulating) a trusted email/web address, such as a financial institution. These emails look as if they were sent from your bank. asking you to click on a link and provide personal financial information for verification. In fact, the information you provided was sent to identity thieves who stole your identity while you sat at your computer.
Today, the concern has grown to include ‘spoofing’ (taking over or manipulating) Caller ID. It’s simple and easy to do. It also allows fraudsters to return to telemarketing and telephone phishing (batting) fraud schemes. The technology of Caller ID has no electronic verification factor for the telephone company, it’s simply a cosmetic, ‘value added’, service offering. The fraudster just dials through the internet, they get the option of what phone number they would like you to see, the name they want to appear and what voice they would like to sound like. And instantly you believe you are contacted by the name and number displayed – when it’s really a fraudster.
What can you do to protect yourself? There are a few simple steps to remember:
1. When you answer the phone don’t provide information to the individual or the company that they claim to represent – simply based on the Caller ID. For example: if they claim to be from (and the Caller ID indicates) Canada Revenue Agency:
- Ask them why they are calling.
- Ask them for their phone number to call them back.
- Verify the number they gave you with the Canada Revenue Agency.
- Call the number, advise them about the call you received, and you want to verify the caller and reason they called.
- If, the call was a legitimate call, the system will indicate you had received a call from them and why.
- If you determine the call was fraudulent call inform the agency and report this to Phonebusters.
2. If you receive an automated call asking you to dial another number, or enter a code or password - DON’T !! It could be a fraudster using automated calling to take over your phone or gain valuable information. If you believe it to be a legitimate call, listen very carefully to what they say. If they say you won a contest, but you didn’t enter into a contest, remember the old saying: if it sounds too good to be true it probably isn’t.
3. Minimize your chance of getting contacted by fraudsters: have yourself removed from as many telephone lists as possible and only provide your phone number as needed,
In Canada, we are very fortunate to have a National Registry called the ‘National DO NOT CALL list’. It was created to allow Canadians the option to have their phone numbers removed from telemarketing databases. You register your phone numbers: Home, Business, Fax, Cell phone, VoIP phones... The registry is valid for a 5 year period and takes 30 days to activate from the time of registration. Registration can be by phone or internet, we suggest internet for individuals with multiple numbers, or ‘block ID’ phones.
Telephone: 1 - 866 – 580 - 3625 or 1 - 888 - 382 – 1222; you must call from the phone you are trying to register and you must have the block feature removed.
Online: www.lnnte-dncl.gc.ca , have a list of all numbers you are registering and you can register them one by one. We suggest you print your registrations for your files. This is the quickest and simplest way to register.
NOTE: The registration activates in 30 days so you may still get telemarketing calls during that initial period.
Prepared by: Ms. Athena Mailloux, BGS, GCertFA, CFE, CFCI, CCP is a Financial Fraud Examiner and member of the SAFE (Sigma Assistel Fraud Examination) Team.
Ms. Mailloux is a highly experienced Financial Fraud Examiner and founder of ZAP Consulting – a Fraud and Forensic Accounting firm in Toronto. She is an Accounting Professor at Centennial College and the creator of their Graduate Certificate in Financial Fraud Examination. She holds several professional designations, is a member of several associations within the fraud community and a proud member of the SAFE (Sigma Assistel Fraud Examination) Team.
Sigma Assistel, a Canadian leader in telephone assistance and a subsidiary of Desjardins Financial Security, serves more than 5 million Canadians. Sigma Assistel is committed to providing businesses and organizations high quality assistance services 24/7. Sigma Assistel is ISO 9001:2000 certified. More information at assistel.com.
Reprinted by permission from
SIGMA ASSISTEL – ID THEFT BULLETIN
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