JP Morgan takes major steps to prevent scams
JPMorganChase Announces Largest Financial Fraud and Scam Prevention Effort in Firm’s History Nationwide initiative highlights free educational workshops, advanced security technology, and dedicated support teams to help protect customers from fraud and scams NEW YORK–(BUSINESS WIRE)–JPMorganChase is launching the largest fraud and scam prevention initiative in the bank’s history, including components related to consumer education, […]
RBC and CIBC allow 89-year-old to drain life savings, lose $1.7M to scammers
Need to protect seniors from losing their life nest egg It is abundantly clear here that our financial institutions did not do enough in identifying this major sum of money being drained from this senior’s account. Where is government at the federal or even provincial level when it comes to financial institutions they regulate to bring […]
The KYC Lesson: How Mr Mysterious Met Granny Compliance in the World of AML
AML UAEIt was a sunny morning on Bankville Lane. The birds were chirping, the lawns were freshly mowed, and the neighbours were going about their usual routines. Mrs Whiskers was watering her tulips. Mr Potts was adjusting his telescope. Everything was peaceful and predictable, just as it should be. That is, until a van covered […]
Money Wire Transfers -Be Alert. Be Aware.Be Cautious.
Here is an example of Scotiabank’s effort under its obligations to meet the Code of Conduct for the Delivery of Banking Services to Seniors. It deals exclusively with the use of wire instruments to send money. It is well done and hopefully other financial institutions are fully aware of the unsuitability and high risk of […]
How to Spot and Stop Phone Scams Targeting Older Canadians
By Canadian Association of Retired Persons (CARP) Published July 30, 2025 Simple Steps to Protect Yourself from Unwanted Calls, Suspicious Texts, and Mobile Scams For many of us, the telephone is a lifeline. It’s how we check in on our children, make appointments with our doctor, and catch up with old friends. But lately, it feels like the […]
UK using metrics to better understand Authorized Push Payment (APP) scams
The average loss per authorised push payment case in the first half of this year was £2,325, but for investment scams it was £15,098, UK Finance said. Vicky ShawFriday 24 October 2025 00:01 BST UK Finance said APP fraud losses were £257.5 million in the first half of 2025, a 12% increase on the same […]
Red flags should always be top of mind for everyone
When it comes to preventing and detecting scams, all particpants involved, be they financial institution personnel and/or their clients, can edcuate themselves by being able to identify red flags A good source for checking out anti-fraud tips is LinkedIn. Here is just one example below from the Anti-Money Laundering (AML) Academy. As a consumer of […]
UK leads the way in tackling APPs
Which? helps make it happen For starters, the UK government brought in its landmark Consumer Duty in 2022 to raise standards and deliver better outcomes for consumers when it comes to their dealings with financial institutions. Key obligations, which firms including their major banks must follow, are acting in good faith, avoid causing foreseeable […]