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Home / Common frauds and scams / Protect you and your family
Have you been a victim
of fraud?
Learn how to spot common frauds and scams.
Since fraud affects millions of Canadians every year, and scammers are constantly adapting and evolving their devious tactics, it’s a good idea to stay informed to help protect yourself and your family. We can help with that.
OTP scam
Scammers may impersonate your bank and try to access your account.
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Unless you initiate the call, TD will never ask for your PIN, OTP or passwords.
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TD Bank will never ask to remote access your account.
Things to watch out for
Please be certain why you’re providing the OTP. Remember, we would never call you and ask for this code if the card was compromised.
If you’re not certain you’re speaking with a TD agent, please hang up and call the number on the back of the card.
When do we request an OTP?
- Digital (we may prompt you with an OTP you enter directly)
- Purchases (where you enter the OTP indirectly)
- If you initiated contact with a TD Call Centre, you may be prompted to share verbally over the phone
These types of scams commonly affect:
Try yourself: Can you spot the OTP scam?
You receive a call from someone claiming to be from your bank, informing you that your bank account is facing issues and may be terminated. To resolve this issue, you must provide your personal information such as your bank details and an OTP that has been texted to your phone.
Investment scam
Scammers will send fake offers via email, instant messaging apps, social media and even dating sites.
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They will sometimes take over your friend’s social media account to make the scam seem legitimate.
Things to watch out for
Be wary of low-risk and high return investment opportunities. Any unsolicited investment advice, especially through social media, should be approached with caution.
If you feel uncertain about investment advice, consider speaking to someone you trust. Having conversations with friends and family can not only help your situation, but avoid them from falling victim in the future.
These types of scams commonly affect:
Try yourself: Spot the investment scam
You receive an unsolicited email from someone claiming to be an investment banker who found your profile online. They share interests that are similar to yours and ask if you’d be interested in a crypto currency trading tip. They share details of a website, performance charts, and even online reviews that all look legitimate. They mention the investment is primed to make a huge return, and you should invest a large amount of your savings to help you retire early.
Romance scam
Scammers will often target their victims through online dating websites or social media. The intention is to gain trust and affection, so they’ll likely profess their love for someone very quickly.
Things to watch out for
If someone professes their love too quickly or consistently avoids any opportunity to meet in-person, exercise extreme caution.
Be wary of a romantic partner who says they live nearby and are currently working overseas.
These types of scams commonly affect:
Can you spot the romance scam?
You meet someone on a dating site who lives in a different country than you. Within no time at all, they’ve charmed you and professed their love and suggested marriage. However, they’ve mentioned that they need money to support their family and get out of debt. They agree to fly to you if you buy them the plane ticket but cancel at the last minute because their mother got sick.
Job scam
Two ways fraudsters target their victims are:
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Asking them to accept fraudulent money through cheque or e-transfer.
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They may also pretend to hire the victim and ask for job-related expenses to be paid.
Things to watch out for
Be cautious about unsolicited job offers through text or email with promises of making “easy money”.
A job should never require you to use your personal bank account or credit products as a form of transferring money to another party.
These types of scams commonly affect:
Try yourself: Can you spot the job scam?
You receive an email for a potential job opportunity. The person asks about your place of residence and financial information upfront. They tell you that you can make thousands of dollars with little work, while also working from home.
Emergency or grandparent scam
The scammer will call and impersonate the victim’s grandchild or family member, claiming to be in trouble and needs money urgently.
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They will swear you to secrecy under the guise of embarrassment.
Things to watch out for
If you receive a call that seems out of the ordinary or suspicious, verify the caller by asking questions that only the real person would be able to answer. Or, hang up, and try contacting them at a phone number you know is legitimate.
Remember, advanced technology allows scammers to mimic the voice of your loved ones, giving them the ability to sound remarkably similar.
These types of scams commonly affect:
Can you spot the emergency or grandparent scam?
You receive a call from someone claiming to be a loved one in trouble. They claim to have been in a traffic accident or a robbery where they’ve been injured. The accident location may be in a foreign country, even a location your loved one has traveled to. They urgently ask for money in the way of wire transfer. They ask you to keep this a secret in fear of embarrassment.
Bank investigator scam
Scammer will call and pose as the victim’s bank, providing a name and fake employee number.
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Tells the victim their accounts have been compromised and may ask for them to assist in this investigation.
Things to watch out for
If you receive a call from someone who says they're from your bank, take down their name and hang up. Call the bank back using the bank's public phone number. Your bank will never request you to assist in an undercover investigation.
Scammers often convey a sense of urgency to rush you into quick decisions. They’ll often threaten you if you don’t do as they say. Or, may offer private info they’ve obtained from the dark web to further convince you of their authenticity.
These types of scams commonly affect:
Can you spot the bank investigator scam?
You receive a telephone call early in the morning, often when you’re still sleeping, from someone claiming to be a representative from a financial institution. While on the phone, you’re rushed into making a decision or giving personal information. You’re then asked to make a purchase of gift cards, prepaid credit cards or cryptocurrencies, like bitcoin. The person then asks you to keep this information private and to tell no one.
Here are a few quick tips to help protect you from fraud.
Enable TD Fraud Alerts. Receive instant text messages notifying you of suspicious activity.
Protect your PIN and passwords. Never share this confidential information with anyone.
Lock or block TD cards. Use the TD app to lock a lost TD credit card or TD Access card or block international purchases while in Canada.
Practice skepticism. Approach unsolicited advice with suspicion. Don’t open links from emails, texts or on social media you don’t recognize.
Frequently asked questions
Online fraud is a crime that happens by email, text message, fake websites, and other methods, with one purpose: to steal your money or personal information. Some examples include:
Identity theft: when someone uses your personal information without you agreeing to it, such as opening a bank account or applying for credit in your name.
Phishing: fraudulent emails or websites.
Smishing: fraudulent SMS text messages.
Vishing: fraudulent phone calls.
Investment scams: attempts to convince you to invest in fraudulent or deceptive investment opportunities, promising high rewards with minimal risk.
Romance scams: criminals who pretend to be romantically interested in you, but who really want to steal your money or personal information, often by contacting you through dating websites or social media.
Emergency or grandparent scams: fraudsters who contact you by email, phone, text, direct message or another method, pretending to be a loved one in urgent need of help (usually a fast money transfer). What the fraudster is really doing is trying to trick you into giving them money.
Shopping online is easy, convenient and, most of the time, safe. You should always be cautious when you’re asked for information by an online store or company, especially if you don’t know them or haven’t bought from them before. Remember:
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If a deal sounds too good to be true, it probably is.
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Shop with well-known, familiar stores. If you want to buy something from an online store you don’t know, research the company or store before you buy.
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Be cautious about how you pay for your purchase: the safest way is with a credit card or debit card through a secure site.
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Don’t make purchases through a pop-up page: go directly to the retailer’s secure website.
To report online fraud (i.e., phishing emails, fraudulent text messages, etc.), send an email to phishing@td.com. Attach copies of suspicious emails, text messages and any links or URLs that you think might be fake.
If you do not recognize a transaction (like a purchase, debit or other charge) on your TD statement, call TD Bank right away at:
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TD Bank: 1-866-222-3456
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TD Direct Investing: 1-800-465-5463
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TD Insurance: 1-877-397-4187
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Web Business Banking Support: 1-800-668-7328
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TD Bank: 1-866-222-3456
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TD Direct Investing: 1-800-465-5463
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TD Insurance: 1-877-397-4187
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Web Business Banking Support: 1-800-668-7328.
You can also chat with us through EasyWeb and the TD app, or at a TD Branch.
When logging in to EasyWeb online banking on your computer, always go to the official TD Bank website by typing in "td.com" or use the mobile app on your phone.
When using online banking in a public place, always make sure your password can’t be seen by anyone and that you’re using a secure connection. Avoid using public connections, like a hotel connection or a transit connection.
Make sure your phone and other devices you use for online banking are password-protected. Turn on Two-Step Verification, when possible. With this feature, we’ll confirm it’s you by sending a text message to your phone.