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Staying Safe Online

Each year thousands of Canadians fall victim to cyber fraud and online scams. As these scams grow more sophisticated, it’s important that we all do what we can to stay safe online. OCU has important safeguards in place to protect you and your information. There are also things that you can do today to protect yourself. We all play a role in the fight against financial crime.

Report an incident or suspicious activity

If you encounter a suspicious email, website, app, or unsolicited pop-up window that claims affiliation with OCU, or if you believe that you have been a victim of actual or attempted online fraud, please report it to us immediately.  250-495-6522 or contact@ocubc.com

March is Fraud Prevention Month

Throughout the month of March, OCU is raising awareness about common scams and how to avoid them. Visit us on Facebook as we share information and resources.

Common Scams

The Canadian Anti-Fraud Centre maintains a list of the most common scams. The Anti-Fraud Centre links also include the latest fraud alerts as they are reported to the police.

The most common scams include:

  1. Identity Fraud – Criminals stealing someone else’s personal information for criminal purposes.
  2. Extortion – When someone unlawfully obtains money, property or services from a person, entity, or institution through coercion.
  3. Personal Information – A scammer, pretending to be from a business, government agency, a bank, or utility company, urgently asks you to verify your personal information.
  4. Phishing – Criminals use tactics to trick you into giving your personal information or clicking on links.
  5. Counterfeit Merchandise – Counterfeiters use websites that have the same look and feel as a legitimate manufacturer to sell products at big discounts. The products are far inferior and could pose significant health risks.
  6. And more.

It’s a team effort.

Our Terms and Conditions detail critical steps that you must take to meet your account and security responsibilities. Read the agreement and follow the tips below to stay safe online.

Section 5 details your responsibilities when it comes to keeping your account secure:

Protection and Management of Passwords:

    • Members are required to safeguard the provided password for accessing their account online.
    • They must maintain the secrecy and confidentiality of their password at all times.
    • Changing the password as per the credit union’s instructions or when authorized users change is mandatory.

Liability and Account Protection:

    • Members are held fully responsible for any transactions made using their password, including those by household members.
    • Even if shared for third-party services, members are accountable for their password’s use.

Reporting Lost or Compromised Passwords/Cards:

    • Immediate notification to the credit union is required if unauthorized access to the password is suspected or confirmed.
    • Prompt communication to the credit union is mandatory if the password becomes accessible to anyone else or if the debit card is lost or stolen.

Secure Use of Online Services:

    • Acknowledgment is made that online transactions carry inherent risks, despite the credit union employing security measures.
    • Personal responsibility is emphasized for securing devices and taking necessary precautions while accessing online banking services.

Tips to keep your account safe

Create strong passwords. Always use secure passwords. Never re-use passwords. If criminals obtain your username and password from one site, they will try other sites with the same credentials. Never share your personal access code. And never share your online banking details. When you create your Personal Access Code, don’t use birthdays or any format that someone could guess. Don’t use sequential numbers (eg. 1234)

Always type login addresses manually or use a saved bookmark. Never follow an email link to a login page. It may be a phishing email trying to trick you to go to a spoof login page. It may look real, but it’s not.

View financial information on secure home wifi only. Assume that everything you do over public wifi is being watched – especially on mobile devices. Never do any site logins or financial transactions on a public wireless Internet connection. If you need to conduct financial business in a coffee shop, turn off wifi and use your cellular data instead.

Enable and install all updates and patches. Updates remove vulnerabilities and keep your information and identity safe.

Install Antivirus software. Antivirus software is an important way to protect yourself against cyber attacks.

Watch your accounts closely. If you see something that doesn’t look right, contact us right away.

How to use online banking securely

The Government of Canada’s Centre for Cyber Security provides information about how you can safeguard yourself and your financial information when you’re online banking. Learn more.

Cyber Security and Fraud Resources

Account Security and Risk

Section five (Account Security and Risk) of our Personal Account Contract Terms and Conditions outlines steps that our members must take to keep their account secure. Read Section 5 here.