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Financial fraud particularly affects seniors, as they are often more vulnerable and inclined to trust. These factors encourage malicious individuals and fraudsters to target the elderly.

At Laurentian Bank, our goal is to provide our senior customers with the best customer service possible. That’s why we’re committed to keeping your money and personal information safe.

If you think you've fallen victim to fraud, contact us right away at 514-522-1846 or toll-free at 1-800-522-1846. Our advisors are always available and will be happy to help you.

What’s financial fraud?

Financial fraud happens when someone deprives you of your money, capital or otherwise harms your financial health through deceptive, misleading or other illegal practices. The best way to prevent fraud is to stay informed, avoid security pitfalls and quickly deal with problems.

Financial fraud against seniors can take many forms; here are a few examples:

1. Fraud by email and text message (SMS):

Also called phishing, scammers use fake emails or text messages that look like legitimate ones. They want access to your details, such as passwords, account numbers or social insurance numbers, so they can obtain your bank account. They do this by sharing a link that redirects to a fake website or application impersonating well-known companies, organizations or institutions.

Protect yourself

Stay alert by paying attention to information that doesn’t seem quite right. Watch out for:

• unrecognized sender names, email addresses or phone numbers;

• spelling and grammar errors;

• requests for personal or confidential information;

• requests to log in via a provided link;

• requests with urgent deadlines; and

• offers that seem too good to be true.

Be mindful that unsolicited communications often contain hidden attachments and links that can be harmful.

2. Telephone solicitations:

These spam phone calls made by individuals or organizations are designed to trick the person who answers to share sensitive or personal information. Generally, fraudsters will apply pressure to prompt quick action.

Protect yourself

• Don’t pick up calls from numbers you don’t recognize.

• Let the call go to your answering service and only reply if you think the message is important.

• Hang up if there are robotic tones or unnatural rhythms to the caller’s speech.

• Beware of urgent requests for money, regardless of the reason.

3. Credit card fraud:

This scheme can take many forms, including calls, emails, texts and letters. The purpose is to obtain your credit card information to make unauthorized purchases or withdraw funds without permission.

Protect yourself

• Report any suspicious activity on your statements to your bank immediately.

• Use a strong and unique password.

• Enable 2-step verification (2SV).

• Never disclose your credit card PIN or passwords to anyone.

Did you know?

With your Laurentian Bank Visa* card, your online transactions are secured. The Visa Secure program helps confirm your identity.

4. Impersonation fraud:

This type of fraud happens when a fraudster tries to manipulate the victim by pretending to be someone else, such as the government, a bank, tech support, a family member or friend. Once they’ve gained the victim’s trust, they convince them to provide sensitive information, money or access to personal accounts.

Protect yourself

• Stay vigilant and skeptical of unsolicited requests for information.

• Never give out personal information over the phone, email, text, etc.

• Don’t give in to pressure.

• Remember that no bank will ever ask you for sensitive details to verify your identity.

• If in doubt, hang up. Check if the phone number matches the one listed on the organization's website.

Taking control of your financial security is crucial to fraud prevention. Trust your instincts, be cautious and stay alert. If you think you’ve been a victim of fraud, report it right away.

24/7 support

Contact us right away at 514-522-1846 or toll-free at 1-800-522-1846. Our advisors are always available and will be happy to help you.

Report to Equifax

Report to TransUnion

Code of Conduct for the Delivery of Banking Services to Seniors

As part of the Code of Conduct for the Delivery of Banking Services to Seniors (PDF, 203 KB), we’ve selected a Seniors Champion, who is responsible for overseeing its implementation, as well as promoting and raising awareness of matters affecting seniors. We have a number of measures in place to help protect seniors from financial abuse, fraud and scams.

Learn more about our banking services for seniors

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