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Keep an eye on your balances at Simplii
February 20, 2024
11:28 am
Top Dogg
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Norman1 said
NSF is very easy to check for using computers. Unauthorized signature or forged endorsement is not as easy.

Culprits were not smart to attempt something like this with a cheque. There will be a hold on the funds where the cheque was deposited. Had the cheque not bounced as NSF, Simplii would have checked the signature on a $17,000 cheque within the one business day allowed. As well, people would notice if their chequing account was $17,000 short all of the sudden.  

Yes exactly Norman1. They would look much closely at it (or you would think) because the amount on the cheque.

February 20, 2024
11:31 am
Top Dogg
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savemoresaveoften said
and who keeps that much in a chequing account too ?!  

Not I, but I'm sure people do! Or if someone with inside knowledge who can see that you moved any substantial amount of funds into your chequing account from another Financial Institution may "take a shot" at it like in my case.

March 19, 2024
3:23 pm
magicman
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Had the same thing just happen to me!!!

Only they put thru a Fraudulent chq to my High interest savings account, which doesn't even have cheques!!!!!!

I luckily just moved my money the day before and Simplii charged me a $45 NSF, which they reimbursed and said they will be investigating. They NEVER notified me and I am not happy that they would put a cheque withdrawal to an account that doesn't even have cheques and then charge me a fee!!!

I too think it was a SIMPLII employee (inside job), as I barely use my Simplii account and just set up this interest account a few months ago. The chq had my name on it (even tho I am not the primary on the account, which only an inside person would know), no address, not my signature, but they had my high interest savings account number !?!

I will be closing all my accounts with Simplii, I don't feel my funds are safe with them!!! Does anyone know, is this something that should be reported to police fraud department?

March 19, 2024
5:59 pm
zgic
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Oh I have just opened a new HISA with Simplii and now to hear this?Funds not safe with Simplii. I will keep a tab on this discussion to hear more.

March 19, 2024
7:07 pm
SaverJunior
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magicman said

is this something that should be reported to police fraud department?  

Top Dogg and magicman:

Oh, my goodness.

Open a case with the bank by filing a formal complaint. See "Our process for resolving your complaint" here on the Simplii website.

Report in writing and tell the bank what happened. That provides them clues for their investigation and hopefully they can catch and fire the bad actors.

March 20, 2024
11:19 am
The Rock
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Top Dogg said

The person's name on the cheque was "Sheline Brown" obviously fake to.  

Don't know if it's related but a Google search of "Sheline Brown" brings up a reddit post by someone who's been scammed by a Sheline Brown in Vaughan Ontario.

March 20, 2024
12:13 pm
Top Dogg
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The Rock said

Don't know if it's related but a Google search of "Sheline Brown" brings up a reddit post by someone who's been scammed by a Sheline Brown in Vaughan Ontario.  

Maybe another scammer wanted to turn the tables on the actual "scammer" or something along those lines..lol. That is really odd though as Sheline is not a very common name at least I've never heard it before. Or maybe it is in Ontario?

March 20, 2024
12:40 pm
Top Dogg
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magicman said
Had the same thing just happen to me!!!

Only they put thru a Fraudulent chq to my High interest savings account, which doesn't even have cheques!!!!!!

I luckily just moved my money the day before and Simplii charged me a $45 NSF, which they reimbursed and said they will be investigating. They NEVER notified me and I am not happy that they would put a cheque withdrawal to an account that doesn't even have cheques and then charge me a fee!!!

I too think it was a SIMPLII employee (inside job), as I barely use my Simplii account and just set up this interest account a few months ago. The chq had my name on it (even tho I am not the primary on the account, which only an inside person would know), no address, not my signature, but they had my high interest savings account number !?!

I will be closing all my accounts with Simplii, I don't feel my funds are safe with them!!! Does anyone know, is this something that should be reported to police fraud department?  

I think it was was either an employee or someone with inside knowledge from either Oaken Financial (where I moved the funds from) or Simplii Financial. But since the same thing has happened to you it narrows it down to an employee or someone within Simplii Financial with inside knowledge. Pretty lame though that they tried to write a cheque from you HISA when you don't have any cheques associated with that account.

Simplii Financial initially blamed me saying that someone must have gotten ahold of my cheque book which is not the case at all. The only cheques I ever had with Simplii Financial are President's Choice cheques from years ago. If you just look at the cheque, it's pretty obvious that it's fake.

So last week I tried to do an interact e-transfer from my Simplii Chequing Account and it wouldn't let me. Granted, since this cheque incident, I have done at least 3 interact e-transfers without incident. So unfortunately I had to call Simplii to see why I couldn't do an interact e-transfer. To make a long story short, the CSR said that it was because there was fraudulent activity on my chequing account that they put a hold on all outgoing funds even though I had already made 3 interact e-transfers after this attempted fraud on my chequing account. I was pissed off about this cause Simplii Financial could have notified me of this rather than making me call them to find out for myself. Also, they said that it was for my own protection yet they had allowed at least 3 other interact e-transfers go through beforehand, anyways, I digress. So I basically had two options, I could either open up a new chequing account or any time that I wanted to do an interact e-transfer I would have to call Simplii Financial to authorize it. So after all of this, I had to jump through some hoops and waste my time opening up a new chequing account with them otherwise I would have to contact them any time I wanted to transfer funds using my chequing account (which I'm not going to do).

You can report it to the police but I highly doubt anything will come of it. We're in Canada so nothing will happen. Simplii Financial should be the ones who are looking into this fraud and investigating it accordingly but they make it seem like it's negligence on the customers part (at least that's how it felt for me) which it is not.

March 20, 2024
2:16 pm
magicman
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You are right, Simplii CSR make it seem like it was my fault somehow, but I told them I am sure it's one of their employees, they need to at least acknowledge the possibility or their investigation will likely be pointless IMO! (especially after reading your story, if I were on their investigation team, all of this would set off red flags of an employee themselves or an employee providing someone the information)

It sucks for us, as we don't know what we can do differently, as we don't know how the information was obtained. And if it was an employee, there's really nothing I can do, but close my accounts with them.

I did call the police station to inquire and they mentioned it would be a issue dealt with thru the bank, however when I specifically asked the CSR at Simplii, they said I could definitely report it to police (they probably have to say that), as someone is using my identity to attempt fraud. But as you mentioned, I'm sure it will go nowhere, but I least I checked

However, I was just reading online that any fraud should be reported to the RCMP, Canadian Anti-fraud Centre, but why wouldn't the police station CSR mention that? Maybe because, it was an attempt and not successful? Either way, it's criminal activity IMO and should be investigated...

Did Simplii follow up with you? They said someone from another department will be contacting me in a few days.

March 21, 2024
8:27 am
Alexandre
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Top Dogg said

...it narrows it down to an employee or someone within Simplii Financial with inside knowledge...

I had to jump through some hoops and waste my time opening up a new chequing account with them otherwise I would have to contact them any time I wanted to transfer funds using my chequing account (which I'm not going to do).

I hope you do realize that same rogue employee can have access to your new account.

Not telling you what to do with your money, but if I were in that situation I would have moved all my funds from such FI without delay, and closed my account(s) with them.

March 21, 2024
11:52 pm
Top Dogg
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Alexandre said

Top Dogg said

...it narrows it down to an employee or someone within Simplii Financial with inside knowledge...

I had to jump through some hoops and waste my time opening up a new chequing account with them otherwise I would have to contact them any time I wanted to transfer funds using my chequing account (which I'm not going to do).

I hope you do realize that same rogue employee can have access to your new account.

Not telling you what to do with your money, but if I were in that situation I would have moved all my funds from such FI without delay, and closed my account(s) with them.  

Yea I know, moving it out by the end of the month anyways since that's when the 5.50% promotion runs out.

March 22, 2024
12:14 am
Top Dogg
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magicman said
You are right, Simplii CSR make it seem like it was my fault somehow, but I told them I am sure it's one of their employees, they need to at least acknowledge the possibility or their investigation will likely be pointless IMO! (especially after reading your story, if I were on their investigation team, all of this would set off red flags of an employee themselves or an employee providing someone the information)

It sucks for us, as we don't know what we can do differently, as we don't know how the information was obtained. And if it was an employee, there's really nothing I can do, but close my accounts with them.

I did call the police station to inquire and they mentioned it would be a issue dealt with thru the bank, however when I specifically asked the CSR at Simplii, they said I could definitely report it to police (they probably have to say that), as someone is using my identity to attempt fraud. But as you mentioned, I'm sure it will go nowhere, but I least I checked

However, I was just reading online that any fraud should be reported to the RCMP, Canadian Anti-fraud Centre, but why wouldn't the police station CSR mention that? Maybe because, it was an attempt and not successful? Either way, it's criminal activity IMO and should be investigated...

Did Simplii follow up with you? They said someone from another department will be contacting me in a few days.  

Simplii never followed up with me and nobody has contacted me from Simplii Financial since this incident.

So anyways, I was out running errands all day today but I got a letter today from Simplii Financial that basically said that I applied for a credit limit increase (which I did not) on my account. I don't know what's going on but I called Simplii when I got home and the CSR that I spoke with said there was nothing issued on my accounts for a credit limit increase since I never requested one and that I never applied for an overdraft either on my Chequing Account when I signed up for a new Chequing Account since I had to ditch my other one on account of that fraudulent cheque. So the CSR said that I could call Equifax (she gave me the number) to see if a 'Credit Information Report' was issued to check my credit rating/score. The CSR said that they never sent me this letter so I don't know what's going on but she said that everything is ok on their end with regards to my accounts and my funds are safe. I'm going to call Equifax tomorrow.

Here's what the letter said that I received today (Thursday March 21, 2024):

Thank you for applying for a Simplii Financial product or credit limit increase request on your existing Simplii Financial account.

As a part of the application process, and based on the consent you gave, we have requested a credit information reply from the following credit bureau:

Equifax Canada Inc.
Consumer Relations
P. O Box 190 STN Jean Talon
Montreal QC H1S 2Z2
Telephone: 1-800-465-7166

This letter is to provide written notification that we contacted the bureau and obtained your credit information report.. Their contact information is provided about should you wish to contact them to review your credit file.

If we can be of any further service please do not hesitate to call us.

Sincerely,

The Simplii Financial Team

March 22, 2024
5:06 am
The Rock
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zgic said
Oh I have just opened a new HISA with Simplii and now to hear this?Funds not safe with Simplii. I will keep a tab on this discussion to hear more.  

And if your account is emptied, they will likely blame you.

March 22, 2024
5:07 am
savemoresaveoften
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Top Dogg said

Simplii never followed up with me and nobody has contacted me from Simplii Financial since this incident.

So anyways, I was out running errands all day today but I got a letter today from Simplii Financial that basically said that I applied for a credit limit increase (which I did not) on my account. I don't know what's going on but I called Simplii when I got home and the CSR that I spoke with said there was nothing issued on my accounts for a credit limit increase since I never requested one and that I never applied for an overdraft either on my Chequing Account when I signed up for a new Chequing Account since I had to ditch my other one on account of that fraudulent cheque. So the CSR said that I could call Equifax (she gave me the number) to see if a 'Credit Information Report' was issued to check my credit rating/score. The CSR said that they never sent me this letter so I don't know what's going on but she said that everything is ok on their end with regards to my accounts and my funds are safe. I'm going to call Equifax tomorrow.

Here's what the letter said that I received today (Thursday March 21, 2024):

Thank you for applying for a Simplii Financial product or credit limit increase request on your existing Simplii Financial account.

As a part of the application process, and based on the consent you gave, we have requested a credit information reply from the following credit bureau:

Equifax Canada Inc.
Consumer Relations
P. O Box 190 STN Jean Talon
Montreal QC H1S 2Z2
Telephone: 1-800-465-7166

This letter is to provide written notification that we contacted the bureau and obtained your credit information report.. Their contact information is provided about should you wish to contact them to review your credit file.

If we can be of any further service please do not hesitate to call us.

Sincerely,

The Simplii Financial Team  

Since it’s a snaii mail and if it looks legit, chances are the CSR u talked to over the phone is not aware of this.
Could be the result of u opening a new chequing account to replace the compromised one.

The fact that fake cheques are being written and cashable is a real concern, esp when 2 posters here experience similar. Guess their app AI just not very smart when it comes to edoposit ? Also unless scammers can immediately cash it out, which they shouldn’t, how can they gain from it esp if need to deposit to their own account or EFT which makes it traceable either way ??

March 22, 2024
6:40 am
zgic
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The Rock said

And if your account is emptied, they will likely blame you.  

OMG!!!! But all transactions, ATM slips, Account links all are saying CIBC. I also have kept an account balance slip from CIBC ATM too. Is SIMPLII so bad? Should I transfer and close the just opened account? Please advise ALL
Are there any SIMPLII account holders here?

March 22, 2024
8:31 am
Norman1
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Simplii Financial is CIBC. Simplii is just a brand name used by CIBC.

Fake cheques have been a possibility for a long time with any chequing account. They aren't a big problem if the signature isn't even close to the real signature of the account holder.

One just disputes the fake cheque to the bank when one finds it. With Simplii, one has 30 days after the date of the monthly statement that the fake cheque appears in to report the cheque. Same with unauthorized pre-authorized debits.

March 22, 2024
8:35 am
InterestThis
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Like they said Simplii is CIBC. Yes Simplii has lousy no-frills service, but its as secure as CIBC or any other bank. Not that things can't go wrong, as we see on the news all the time.

March 22, 2024
9:18 am
Alexandre
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Norman1 said

Fake cheques have been a possibility for a long time with any chequing account. They aren't a big problem if the signature isn't even close to the real signature of the account holder.

One just disputes the fake cheque to the bank when one finds it. With Simplii, one has 30 days after the date of the monthly statement that the fake cheque appears in to report the cheque. Same with unauthorized pre-authorized debits.  

This is reassuring, but I doubt fraudsters keep writing bad cheques knowing they'll have 0% success rate with them.

March 22, 2024
9:45 am
Top Dogg
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Thanks for all the feedback everyone. I'm just relaying my experience with Simplii Financial as I value this forum and input from it.

I think fraud is so prevalent nowadays that there are more "shot takers" than ever on account that the chance of getting caught is slim to none (risk vs. reward) and sadly the consequences are so minimal that it's worth it for these cons to take a shot.

March 22, 2024
4:40 pm
MG
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Top Dogg said
sadly the consequences are so minimal that it's worth it for these cons to take a shot.  

The old saying was "Crime doesn't pay". Clearly it does.

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