Navigate Up
Sign In
Articles by category
Scams and frauds to watch for

Scams and frauds to watch for

Posted on: May 15, 2017 | Author: Staff

WannaCrypt Ransomware update

Many of you will have read articles and viewed newscasts this weekend regarding the worldwide WannaCry Ransomeware cyber attack. Although the threat is waning at the moment, many experts suggest it may rise again this week, either because of business email traffic picking back up after the weekend, or because the perpetrators will have modified the attacking malware to overcome the protections in place.

At ATB the currency of our systems and monitoring by internal team members means that we have not been affected by the malware.

However, as the malware enters organizations via social engineering and phishing—the act of disguising electronic communication as coming from a trusted source—you should be very wary of emails containing links or attachments. Also be very careful about the internet sites you are visiting.

Our best advice: If you have any doubt about a link or attachment in an email, please contact the sender to make certain what they've sent you is legitimate.

Posted May 15, 2017

WannaCrypt Ransomware alert

There is a new variant of ransomware known as WannaCrypt that is active worldwide. A number of organizations, including UK hospitals, have been infected.

The delivery methodology is based on social engineering and phishing attempts.

Once active, the malware encrypts data on the infected device and demands ransom for the unencrypt key. Unlike most ransomware that encrypts only accessible files from a single device (i.e. computer or server), this variant also moves laterally within the environment via administrative rights and therefore has the ability to encrypt not one but all computers and servers in the environment.

As always, please be extremely cautious when opening email attachments. If there is any doubt, please contact the sender to make certain the attachment they have sent is legitimate. If your personal device has been infected, and if you have a backup of your files, you should be able to restore the information once your device has been wiped clean.

Posted May 13, 2017

Fake texts from ATB

We've found out that ATB customers (and non-customers too) have received text messages in what we believe is a phishing attempt. Here's an example of what one of them looked like:

Suspected phishing text

Safe ATB links begin with https://www.atb.com or https://get.atb.com. Any login pages will begin with https://.

If you are in doubt about a message, call our Customer Care Centre at 1-800-332-8383 and report any suspected fraud to fraud@atb.com

Posted March 6, 2017

Protect yourself. Don’t fall for these scams making the rounds right now.

STARS lottery "winners"

This one comes up when the STARS lottery is underway, and this year is no exception. We had a customer in one of our branches report a STARS fraud attempt just this week.

The fraudsters could contact you by phone or email indicating you won a prize in the lottery. You'll be asked to send money in order to claim it.

According to the STARS website, "You will never be asked to send money to claim a STARS lottery prize. Period. If you are being asked to send a cheque, money order, or payment of any kind to claim your lottery prize, it is a scam. Hang up the phone or delete the email."

Posted February 22, 2017

Can you hear me now?

This phone scam has arrived in Alberta.

Essentially, it relies on your voice to answer a simple question, "Can you hear me now?" The scammers try to bait callers into answering "yes."

Anti-fraud agencies say that the simple acknowledgment can be used to make it sound as if you signed on for a purchase or service. The call is the first part of the scam. An invoice or bill that arrives later is the second part. The call may be played back as evidence of consent.

The best way to protect yourself is to screen all incoming calls and report any suspicious activity to the Canadian Anti-Fraud Centre. If you believe you may have fallen for the scam, contact your bank and credit card companies to flag your accounts.

Posted February 9, 2017

Binary options fraud

Buckle up, this one is complex. But we've seen some of our customers fall victim, so we want to get the word out.

Although binary options are sometimes traded on regulated exchanges, they are generally unregulated, traded on the Internet, and prone to fraud.

A binary option is a type of options contract in which the payout will depend entirely on the outcome of a yes/no proposition. For example, the yes/no proposition connected to the binary option might be whether the stock price of XYZ company will be above $9.36 per share at 2:30pm on a particular day, or whether the price of silver will be above $33.40 per ounce at 11:17am on a particular day.

Once the customer acquires a binary option, there is no further decision for the holder to make as to whether or not to exercise the binary option; they exercise automatically. Unlike other types of options, a binary option does not give the customer the right to purchase or sell the underlying asset.

When the binary option expires, the customer will receive either a pre-determined amount of cash or nothing at all. Given the all-or-nothing payout structure, binary options are sometimes referred to as “all-or-nothing options” or “fixed-return options.”

There are several ways that people can potentially fall victim to Binary Options fraud, with the most commom being:

  • When customers attempt to withdraw their original deposit or the return they have been promised, the trading platforms allegedly cancel customers’ withdrawal requests, refuse to credit their accounts, or ignore their telephone calls and emails.
  • Certain Internet-based binary options trading platforms may be collecting customer information such as credit card and driver’s license data for unspecified uses resulting in suspected identity theft.
  • Certain Internet-based binary options trading platforms may manipulate the trading software to distort binary options prices and payouts (for example, when a customer’s trade is “winning,” the countdown to expiration is extended arbitrarily until the trade becomes a loss).

Posted January 24, 2017

Mystery shopper scam

We’ve seen ATB customers falling victim to this one. People are hired as mystery shoppers and told to buy things from a particular store. They receive a cheque to deposit and are told to keep a portion of it as payment and wire the rest back as a test. Guess what? That cheque turns out to be bad and the victim is now on the hook for the money they wired.

Posted January 20, 2017

Phone scam

How’s this for a clever customer? She got a call from an Ontario number and the person told her they were from ATB and she was the winner of a free security system. There would be a monthly fee of $33, they just needed to give them her banking info. She didn’t. She called us instead and found out we are definitely not giving away security systems. Now you know!

Posted January 20, 2017

Car wrapping scam

We caught one of these in the nick of time earlier this month. A customer had agreed to have their vehicle wrapped in vinyl advertising. They were given a cheque to cover all the costs, told to keep $300 as payment and deposit the rest into a specific bank account to pay for the decals. After that, they were promised weekly cheques that would come by mail. In this scam, the cheques always turn out to be counterfeit and the victim will be on the hook for the money.

Posted January 20, 2017


For more details on active scams, visit the Canadian Anti-Fraud Centre online.

Other articles you may be interested in:

7 tips for protecting yourself from scams and fraud
Financial abuse—know the signs
4 warning signs of identity theft

    ​​

    Scams and frauds to watch for
    May 15, 2017

    Scams and frauds to watch for

    Protect yourself from WannaCrypt Ransomware.

    Pepper is about to branch out
    April 28, 2017

    Pepper is about to branch out

    ATB’s new robot takes up shop at the Chinook Centre branch in Calgary from May 1-26.

    Number 2 has a nice ring to it
    April 27, 2017

    Number 2 has a nice ring to it

    ATB has been named the second Best Workplace in Canada for 2017.

    Our helping hands deserve a hand
    April 25, 2017

    Our helping hands deserve a hand

    In the last year, ATB Helping Hands recipients volunteered more than 19,000 hours.

    4 ways to simplify your finances
    April 12, 2017

    4 ways to simplify your finances

    Spring cleaning isn't just for your house. Your banking could likely use a clean-up, too!

    Update! Changes to ATB Online banking have arrived
    April 11, 2017

    Update! Changes to ATB Online banking have arrived

    What you can expect from the new site, plus answers to common questions.

    Breaking down the 2017 Federal Budget
    March 23, 2017

    Breaking down the 2017 Federal Budget

    See how the new Canadian budget could affect your taxes and investments.

    What Alberta's new budget means for your taxes
    March 20, 2017

    What Alberta's new budget means for your taxes

    See how your finances are affected by the 2017 provincial budget.

    We take pride in all Albertans
    March 16, 2017

    We take pride in all Albertans

    We believe Pride is about love, faith, and self-worth. It's about acceptance. ATB has some exciting plans...

    ATB offers Canada’s first Pride Mastercard®
    March 16, 2017

    ATB offers Canada’s first Pride Mastercard®

    ATB's Pride MyPic Mastercard allows Albertans to show their support for the LGBTQ community.

    Reimagining customer experience with smart research and design
    March 10, 2017

    Reimagining customer experience with smart research and design

    How identical twins taught ATB about its UX.

    Banking bots
    March 10, 2017

    Banking bots

    How artificial intelligence can help you manage your money.

    Alberta’s newest startup accelerator
    March 10, 2017

    Alberta’s newest startup accelerator

    Why it stands out.

    Pay with your phone…pay with your fridge
    March 10, 2017

    Pay with your phone…pay with your fridge

    The future of payments.

    Amplifying manufacturing in Alberta
    March 06, 2017

    Amplifying manufacturing in Alberta

    ATB recently launched an initiative to help Alberta’s manufacturing sector access international markets.

    ATB marks Pink Shirt Day
    January 25, 2017

    ATB marks Pink Shirt Day

    ​At ATB Financial, we believe that bullying should never be a part of growing up, and should never be part...

    Fans First Contest: Desiree’s Story
    January 24, 2017

    Fans First Contest: Desiree’s Story

    She won $1,000. But what she did with it might surprise you.

    The 5 Ws of Global Transfers
    January 09, 2017

    The 5 Ws of Global Transfers

    Make like a journalist and find out what this method of sending money internationally is all about.

    Year-end tax tips to help reduce your tax bill
    December 26, 2016

    Year-end tax tips to help reduce your tax bill

    Avoid paying more tax than you need to and put yourself in a better financial position in 2017.

    Survive holiday spending without sacrificing investment savings
    December 21, 2016

    Survive holiday spending without sacrificing investment savings

    Avoid overspending and dipping into your savings to pay off holiday debt with these tips for budgeting and saving.

    20 affordable holiday family fun ideas
    December 15, 2016

    20 affordable holiday family fun ideas

    It’s the perfect time to save a bit of cash while creating cherished family memories.

    Investing with passion
    December 09, 2016

    Investing with passion

    How art collections have become dynamic assets, utilized as loan collateral and as part of investment portfolios.

    The best things in life aren’t things
    December 09, 2016

    The best things in life aren’t things

    Why wealthy people tend to experience a unique set of challenges that detract from their overall level of happiness.

    Take the stress out of investing
    December 09, 2016

    Take the stress out of investing

    How the markets can be compared to exciteable dogs.

    2016 ATB Financial. All rights reserved. ®ATB Financial is a trade name/registered trademark of Alberta Treasury Branches.