Bank investigator

On this page

• How it works
• Multi-Factor Authentication (MFA) code
• Residence visits
• Warning signs and how to protect yourself

How it works

Fraudsters are impersonating financial institutions, law enforcement, Amazon and credit reporting agencies claiming that the your bank account has been compromised.

You get an automated phone call claiming to be your financial institution, law enforcement, credit reporting agency or, in some cases, Amazon advising that there have been fraudulent transactions in your account. Fraudsters will request access to your computer or device to continue the “investigation”. You are then shown a fraudulent transaction on their online bank account. The suspects tell you that they want your help in an ongoing “investigation” against the criminals who stole your money and ask you send funds as part of the “investigation”.

In some cases, fraudsters will add you as a “payee” with a fraudulent email address and tell you that you have to transfer a large amount of money to protect your account. The fraudsters will convince you that they have added funds to your account but, in reality, they took the money from your line of credit or savings account.

Multi-Factor Authentication (MFA) code

Suspects may have your debit card number and password but cannot access your account because you have multi-factor authentication protection on your account. Suspects will contact you claiming to be your financial institution and say that you must provide them with the code you get by text message or email in order to confirm your identity. This code is the multi-factor authentication code which gives the suspects full access to your bank account.

Residence visits

Suspects will tell you that they need to get your debit or credit card from your home as part of the investigation. They will come to your home to pick up the card and they may even you to cut the card in half without damaging the card chip to make it seem more legitimate. They may also threaten that you may be arrested if you do not cooperate.

Warning signs and how to protect yourself

• Criminals use Call-Spoofing to mislead victims. Do not assume that phone numbers appearing on your call display are accurate
• If you get an incoming call claiming to be from your financial institution, advise the caller that you will call them back. End the call and dial the number on the back of your bank debit card from a different phone if possible or wait 10 minutes before making the outgoing call
• Credit bureaus will not randomly call you, unless it is a requested call back. If you receive an incoming call claiming to be from a credit bureau, advise the caller that you will call them back. Visit the credit bureau’s website and contact the official phone number provided
• These institutions or law enforcement will never threaten you over the phone
• Don’t share codes received via text message or email with anyone. In most cases, these are multi-factor authentication codes that will give fraudsters access to your account
• Fraudsters will often provide the first 4 to 6 numbers of your debit or credit card. Remember that these numbers are used to identify the card issuer and are known as the Bank Identifier Number (BIN). Most debit and credit card numbers issued by specific financial institutions begin with the same 4 to 6 numbers
• If your personal information has been compromised in the past through a breach or a phishing message, remember that the information can be used as a tool to make the communication appear legitimate
• Never provide remote access to your computer
• Institutions or online merchants will never request transferring funds to an external account for security reasons
• Institutions or police will never request you to turn over your bank card nor attend your residence to pick up your bank card
• Enabling Auto-Deposits for Interac e-transfers provides an additional layer of security
• Learn more tips and tricks for protecting yourself

Date modified:

2025-06-26