Scotiabank becomes first Canadian bank to offer interactive
fraud simulations to help customers identify cybercrime
TORONTO, Nov. 21,
2022 /CNW/ - According to a recent Scotiabank Fraud
Awareness poll, almost seven out of 10 Canadians (68%) have been
targeted or fallen victim to various financial fraud scams via
email, phone, text, credit card, or social media. With the
holiday shopping season upon us, Scotiabank is reminding Canadians
of the importance of remaining vigilant all year long and has
launched its redesigned Cybersecurity and Fraud Hub to help
Canadians identify and protect themselves from cybercrime.
"Fraud can impact any of us and should be an important topic of
conversation amongst all Canadians," said Tammy McKinnon, Senior Vice President, Global
Fraud Management, Scotiabank. "As a large financial institution, we
play an important role in educating our customers and keeping them
informed about the current trends in threats or scams, to protect
themselves and their families from fraud."
According to the Canadian Anti-Fraud Centre (CAFC), to date
in 2022, fraud losses in Canada
total $362.7 million. That amount is
likely much higher given that they estimate that less than 5% of
victims report to the CAFC. Scotiabank's Hub is the first of
its kind in Canada to include
fraud simulations where users can evaluate email and text message
exchanges, websites, as well as listen to voicemail examples to
assess the authenticity of this content.
"At Scotiabank, our customer's safety and security is
paramount," said Steve Sparkes,
Senior Vice President and Chief Information Security Officer,
Scotiabank. "As cyber criminals continue to target innocent
victims, 89% of Canadians agree that more education is needed to
support financial fraud and cybersecurity awareness. Scotiabank's
Cybersecurity and Fraud Hub aims to fill that need by highlighting
the increasingly sophisticated scams being used and how the public
can protect themselves."
As part of the Scotiabank Cybersecurity and Fraud Hub, users
will have access to:
- An interactive fraud simulator to help identify commons
scams
- Information on how Scotiabank helps protect its customers
against cybercrime
- A list of the actions Canadians can take to help protect
themselves and their family against scams
Scotiabank's refreshed Cybersecurity and Fraud Hub also includes
a section designed to further educate small and medium business
owners and their employees on best practices to help protect their
business and customer information.
To learn more, visit the Scotiabank Cybersecurity and Fraud Hub:
Scotiabank.com/Security
About The Poll
The Scotiabank Fraud poll was conducted on behalf of Scotiabank
by Maru Public Opinion with its sample and data collection
experts at Maru/Blue on October 18-19,
2022, among a random selection of 1,511 Canadian adults who
are Maru Voice Canada panelists. The
results were weighted by education, age, gender, and region (and in
Quebec, language) to match the
population, according to Census data. For comparison purposes, a
probability sample of this size has an estimated margin of error
(which measures sampling variability) of +/- 2.3%, 19 times out of
20.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, their families
and their communities achieve success through a broad range of
advice, products and services, including personal and commercial
banking, wealth management and private banking, corporate and
investment banking, and capital markets. With a team of over 90,000
employees and assets of approximately $1.3
trillion (as at July 31,
2022), Scotiabank trades on the Toronto Stock Exchange (TSX:
BNS) and New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on Twitter
@Scotiabank.
SOURCE Scotiabank