There have been many changes in the financial services industry over the past few years. Consumers now have greater flexibility and more options than ever before regarding their finances. Appropriate care and diligence must be exercised when making financial transactions of any kind.


This type of con is mainly directed towards seniors. The con artist will contact you and introduce him / herself as a bank inspector or police officer. They advise that they are trying to trap a dishonest employee at the bank where you have an account. You could be asked to withdraw money from your account and give it to the con for use as “evidence” against the employee. Further, you are asked to maintain the utmost secrecy so that the bank employees aren’t alerted. Once you turn over your money, you will never see your money or this person again.


While you are in the bank kiosk using your bankcard, a con artist will be watching you in an attempt to obtain your PIN number. Near the end of the transaction, before you have removed your card from the bank machine, the con artist will drop a $20.00 bill on the ground and point it out to you. While you turn to pick it up, a second con artist exchanges your bankcard in the machine with another stolen bankcard. You won’t know this until you try to use the card and discover that it won’t work. By then your account will probably have been drained.

While using an ATM, false parts may have been installed on the machine by criminals making it capable of reading your card and PIN. This may result in the fraudulent use of your card at a later date. Report any suspicious machines to the Police.

You may have lost your purse or wallet containing your bankcard. The con artist will call you claiming to be from the bank asking you to verify your PIN number so they can cancel the card and issue you a new one. Again, armed with your card and now the PIN number, your account could easily be drained. No bank employee or police officer will ever ask you for this number.

Take extra Care …

  • Get your bank or credit card back as soon as the transaction is completed.
  • Never give out your bank or credit card number over the telephone or over the internet to an unsolicited caller.
  • Sign the backs of new cards as soon as you get them. Cut your expired card.
  • Never give someone a cheque without filling it out yourself.
  • Don’t endorse cheques in advance.
  • Report lost / stolen cards or cheques immediately.
  • Review your bank statement regularly.
  • Cover your PIN when keying it in.