Are Your Passwords and PINs Secure? It's Cyber Security Awareness Month: Bank Safe and Foil the Fraudsters
TORONTO, ONTARIO, Oct 08, 2013 (Marketwired via COMTEX) --
Editors' Note: An image is associated with this press release.
October is Cyber Security Awareness Month, an international effort to
educate consumers about cybercrime, and the Canadian Bankers
Association (CBA) is reminding Canadians about what banks are doing
to enhance cyber security and encouraging Canadians to bank safe and
foil the fraudsters.
Banks have extensive security measures in place to protect their
customers from fraudulent activity in their bank and credit card
accounts, including monitoring transactions looking for unusual
activity, verification questions to ensure that it is the customer
using online banking, and moving to more secure chip and PIN
(personal identification number) debit and credit cards. These
efforts have been able to prevent criminal activity and help
Canadians safely do their banking and pay for purchases.
"There are also important and simple steps that customers need to
take to prevent fraud, and one of the most important things is to
choose secure PINs and passwords," said Maura Drew-Lytle, Director of
Communications at the Canadian Bankers Association. "This is a
requirement set out in your banking agreements and if customers have
taken the appropriate steps, then they will be protected from fraud
losses by the banks' zero liability policies."
Tips on choosing secure online passwords and PINs
Each bank will have its own requirements about choosing secure
passwords and PINs, so it is best to check with your bank's online
access agreement, bank account agreement or credit cardholder
agreements, but there are some general guidelines to keep in mind.
When choosing online passwords, verification questions and credit and
debit card PINs, avoid choosing something that would be easy to guess
or information that could be obtained by others. You must not use:
- Your name or that of a close relative
- Your birth date, year of birth, telephone number or address, or
that of a close relative
- Your bank account, debit card or credit card number
- A number on any other identification that you keep with your debit
and credit cards in your wallet, such as a driver's licence or social
- A password or PIN used for other purposes
Other secure banking tips
- Never share your debit or credit cards, PINs and passwords with
others, not even family members.
- Shield your PIN when entering it. Don't write it down, memorize it.
- Report lost or stolen cards immediately.
- Always check your monthly bank and credit card statements, or check
your accounts online regularly. Make sure all the transactions are
- Never give out your card number over the phone or Internet unless
you are dealing with a reputable company. The only time you should
give it is when you have called to place an order.
- Protect your home computer - make sure that you install anti-virus,
anti-spyware and Internet firewall tools purchased from trusted
retailers or suppliers. Keep these programs enabled and continuously
updated to protect your devices against malicious software.
Information on choosing secure PINs and passwords is outlined in the
account and cardholder agreements and electronic banking agreements.
These documents are provided to customers when they open a bank or
credit card account or when they sign up for online banking. They are
also readily available on request at bank branches or on bank
websites. It is very important that customers read and understand
these agreements before choosing their PINs and passwords.
To find out more about frauds and scams, how banks protect customers
and how customers can protect themselves, sign up to receive the
CBA's fraud prevention tips by e-mail at www.cba.ca/fraud.
About the Canadian Bankers Association
The Canadian Bankers Association works on behalf of 57 domestic
banks, foreign bank subsidiaries and foreign bank branches operating
in Canada and their 275,000 employees. The CBA advocates for
effective public policies that contribute to a sound, successful
banking system that benefits Canadians and Canada's economy. The
Association also promotes financial literacy to help Canadians make
informed financial decisions and works with banks and law enforcement
to help protect customers against financial crime and promote fraud
Follow the CBA on Twitter: @CdnBankers
Watch videos: Youtube.com/CdnBankers
Follow the CBA on LinkedIn
To view the image associated with this press release, please visit
the following link:
Media Relations Specialist
(416) 362-6093, ext. 219
Cell: (416) 587-7733
SOURCE: Canadian Bankers Association
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