In last Saturday's Espokes we reported receiving calls allegedly from CIBC giving us verification numbers we had not requested. This is an update on the scam.
After reporting the fake calls to CIBC, we checked our accounts. Graeme's CIBC VISA account showed four PayPal transactions pending, totalling $700, that were fraudulent. Reporting this to CIBC Fraud Dept on Sunday, they immediately froze our VISA and bank chequing accounts, told us to visit the local branch, and to get the computer used for online banking "cleaned" to eliminate any potential viruses. With the accounts frozen, we could not check our accounts online any more. We changed our PayPal password. On Monday, we visited CIBC to open a new chequing account and found in addition to the fraudulent charges on VISA on Dec 27& 28, a charge of over $3800 against our line of credit on Dec 30, and suspicious credits from PayPal of a few cents on our chequing and savings accounts. CIBC told us this is a phishing ruse to get a connection to our bank accounts through PayPal and typically charges against the account follow. We closed all our CIBC accounts and opened new ones, and cancelled our PayPal account.
CIBC cancelled all fraudulent transactions, so we did not lose any money. However, we lost our grandfathered chequing account and the new one is potentially a bit more expensive.
Things To Look for to Avoid this Scam
1) A call from your bank giving a verification number that was not requested.
2) Immediately change all passwords
3) Keep checking all accounts for activity you have not initiated
4) Small deposits from PayPal are a warning sign
5) If the above reveals suspicious activity, close all accounts and open new ones
6) Report the scam to your bank, Equifax and TransUnion Credit Agencies and have security alerts placed on your files.
Equifax 1-866-828-5961
TransUnion 800-663-9980
7) If you actually lost any money, involve the RCMP. We didn't need to.
Let's hope this is the end of it.
Shelfords
Saturday, January 4, 2020 at 4:27PM 
