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Fraud Prevention

Mar 03. 21

Fraud Prevention Month

March is Fraud Prevention Month

Every year, thousands of Canadians fall victim to fraud. Most people don’t think it could happen to them, but fraudsters increasingly use sophisticated methods to target people from all walks of life. More and more of these schemes are being attributed to organized crime. The impact on individuals, families and businesses is devastating – retirement savings, homes, businesses and in some cases, lives have all been lost.  The impact of Covid-19 scams in Canada between March 2020 and January 2021 saw over $7M lost to fraud.

Go to our Cyber Security page to learn ways to protect yourself from Cyber Security and what to do if you think you may have been a victim to fraud. 

Five Steps to Protect Yourself

Other beneficial sites are the Anti Fraud Centre:

Anti Fraud Centre


Cyber-related incident numbers at a glance*

The top reported incident in 2020 overall was spear-phishing (1,367 reports involving 648 victims with a possible dollar loss of just under $27.9 million). Of those 648 victims, 472 were Canadians. A separate category includes reports of what is categorized as general phishing fraud (just over 3,400 reports representing just over 1,000 people).

The second-highest incident was romance-related scams (1,357 reports involving 868 victims with a possible dollar loss of just over $24 million).

The third-highest incident was investment scams (585 reports involving 508 people with a possible dollar loss of just over $19 million).

These three categories total $71 million of the $101 million in cyber-related losses for last year.

Of the overall fraud incidents (including cyber-related) reported to the centre in 2020, extortion led the list (17,360 reports representing 6,689 victims and losses totalling $12.5 million). This was followed by identity fraud (16,970 reports representing 16,970 people) and personal information scams, such as phone scams (6,649 representing 4,386 people).

*The post cyber fraud complaints in Canada took huge leap in 2020 first appeared on IT World Canada.

It’s sometimes hard to keep on top of all the information you need to know to keep your money and your personal information safe. Terms like “identity theft,” “debit card fraud” and “phishing” can sound scary and you may not know where to turn to get clear information about what these terms mean and how you can protect yourself.

The good news is that the majority of frauds can be prevented by identifying the methods used by fraudsters. The more you know about a fraud, the less likely you are to fall for it. Through awareness, you can avoid becoming a victim. 

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Covid-19 Updates

  • Covid-19 Updates

    Bulkley Valley Credit Union is HERE FOR YOU during these difficult times, which includes keeping you up to date with the measures we are taking to protect our staff, members, clients, and community from COVID-19.

    The updates will also cover what we are doing to ensure Bulkley Valley Credit Union continues to serve your banking, financial, and insurance needs.

    Check back regularly or visit our Facebook page for the latest and if you have any questions or concerns, please don’t hesitate to contact us by phone or email.

    We are in this together.

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In Our Community

  • Director Election April 6-12, 2021

    The Smithers Representation area is conducting a director election to be held from April 6-12, 2021.

    Click here for online voting link and voting information.

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  • 79th Annual General Meeting

    Bulkley Valley Credit Union is celebrating its 79th AGM. Please come join our virtual AGM as we celebrate 80 years of being at your service!

    Click here to register.

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