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Call To Action
Draft write-up to initiate action in the House of Commons to bring in legislation that will do much more to protect our vulnerable and targeted seniors from being defrauded A petition to the House of Commons in April 2023 to protect seniors in particular from losing their lifetime savings and
We are all in this global financial fraud together
Someone has called it a scamdemic but however you define financial fraud, it has widereaching tentacles spanning the entire globe. Too bad it cannot be jettisoned into space but will not be because consumers live here. They are often the target of these fraudsters who operate internationally and zero in
Fraud is a global threat causing great consumer harm
Having just posted a link to OECD’s June report on Protecting Consumers from Financial Scams and Frauds on this financial vulnerability blog, where a clear and defining recommendation was international collaboration and cooperation to fight the global scourge of fraud which respects no borders, this LinkedIn post by Mr. Islam,
Setting thresholds do make a difference to reducing fraud losses
Prior to its acquisition by Royal Bank of Canada (RBC), HSBC Bank Canada had specific online transfer thresholds set up for consumers: Online Banking Wire Transfer Limit: The standard daily limit for self-serve transfers/wires initiated through HSBC Canada’s online banking portal or mobile app was $50,000. Higher Tier Authorizations: For
High risk foreign currency wires catch attention of US Treasury Department
The US Treasury just handed down a fine of $125 million against UBS for failing to monitor suspicious transactions of high-risk foreign currency international wires. This comes on the heels of the fallout and repercussions through US banking from the US Department of Justice (DOJ) levying a fine of $3
Whistles are not just for sports – can prevent fraud
The Association of Certified Fraud Examiners (ACFE) releases a report on whistleblowing annually. 2026 is available now with the link provided below in the brief article. Given the focus of this blog, the infographic shown below is on Banking and Financial Services. Whistleblowing does make a difference, and one good
Pause and verify
In a podcast held on March 31, 2026, the last day of Fraud Prevention Month, Allister Field interviewed experienced, knowledgeable and a very engaged Toronto Police Service financial crimes detective named David Coffey. It is revealing for the information shared by Coffey on the rapid acceleration and changing landscape of
The Little Book of Fraud
Put this little book, The Little Book of Fraud, on your summer reading list as it may save you a lot of money. This one (see link below) is from the UK, however the fraud prevention tips are universal in describing different types of fraud and how you can take
Humans are behind a financial transaction you need to protect
A short and sweet post but impactful in the message that behind every transaction is a human who may well be under duress and pressures that need to be understood to realize it is not a normal everyday bank deposit or withdrawal There is more behind it and it requires
Be alert and ready to investigate (i.e., ask questions)
This post, with its sharp and informative graphic on the anatomy of a suspicious transaction, does a good job in brief fashion to highlight the importance of what you need to do as a financial institution to detect and prevent fraud. Many good points made here with the one bolded