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Email this9:00 pm
September 5, 2023
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I have had Simplii credit cards not reach me by mail more than once.
Never had this type of situation at a major bank.
Be careful what questions you ask even on this site.
Not everybody who is listening has good intentions.
It's one of the reasons I have become very quiet here.
1:39 am
November 18, 2017
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Bank-issued cheques have a variety of anti-fraud features, but all the cheque printers have access to them so they may not be so hard to compromise.
About 40 years ago, a bank issued me a mis-coded MICR chequebook. A number of cheques bounced but I wasn't charged as there was no link to my real account, and the payees all were understanding. My, how times have changed!
The Canadian Anti-Fraud Centre isn't really an enforcement entity. The RCMP Commercial Crime division SHOULD be prosecuting these cases but they are "very low priority" compared to all the other crime around. The Canadian Anti-Fraud Centre mostly gathers reports of fraud and distributes warnings and educates about safer practices.
It's really hard to get law enforcement to act on commercial crime. Even big scams like fake investment schemes. They get more heat for drug dealers, human traffickers, psycho attackers and the dreaded family disputes.
RetirEd
6:53 am
March 30, 2017
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althisa said
I have had Simplii credit cards not reach me by mail more than once.
Never had this type of situation at a major bank.Be careful what questions you ask even on this site.
Not everybody who is listening has good intentions.
It's one of the reasons I have become very quiet here.
Simplii is CIBC, not sure if you count CIBC as a major bank or not.
7:06 am
August 30, 2023
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savemoresaveoften said
Simplii is CIBC, not sure if you count CIBC as a major bank or not.
It is a major bank. It is part of the Big 5 Banks in Canada - "Too Big to Fail"
7:33 am
April 27, 2017
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zgic said
It is a major bank. It is part of the Big 5 Banks in Canada - "Too Big to Fail"
Yes, it is number 5.
9:52 am
November 5, 2022
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MG said
The old saying was "Crime doesn't pay". Clearly it does.
One would think the point of crime is the pay?
12:11 am
March 3, 2022
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What I find interesting (and telling) is the fact that almost daily I receive mail from banks and FIs scaring me about taking "Fraud" seriously like I'm a child. When, to me, it's now abundantly clear that it's the banks that have more internal staffing rot that they FIRST need to spend resources and focus on.
Banks/FIs must be made to improve the responsibility, quality and training of the staff, as a regulatory requirement. Hiring for cheap, ultimately outsources security to the customers. It's unfair. All the 2FAs and security-code hell won't do a thing if the "call is coming from inside the house" per se!
As I've seen numerous times just on this forum alone (e.g. the Duca employee fraud earlier, and now this, etc), that banks are quick to offload their responsibility by hiding behind P.R. blitzes and gaslighting the customers instead of fulfilling their own fiduciary duties.
It shouldn't be upon good Samaritans like the folks here reporting and warning us all. This is not a charity/nonprofit industry we're talking about. It's the trillion dollar financial industry. And they have calculated that the victims are too small to fight back, etc. They should be made more responsible, and we need far more robust regulations and the media's eyes on them.
11:26 pm
October 21, 2013
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By the time an FI gets around to sending you a "helpful" email about a scam or about precautions you should take, it's usually already common knowledge amongst people who pay any attention to such issues. It gives me the impression that the FIs were the last ones to hear about it! I'm sure that's not true, but they are hardly in the forefront of helping clients stay safe.
Regulation has potential to help, but the banks have very powerful lobbies, and I doubt any regulation ever passes that they haven't been involved in framing and agreed to in advance.
Meanwhile, they are taking away Canadian jobs and outsourcing them to India and so on, where Canadian regulatory influence will be slim. I'd like to see regulation that requires all my financial data must at least be kept in this country. Not gonna happen; the train already left the station. For shame.
12:04 pm
October 4, 2018
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iotama said
What I find interesting (and telling) is the fact that almost daily I receive mail from banks and FIs scaring me about taking "Fraud" seriously like I'm a child. When, to me, it's now abundantly clear that it's the banks that have more internal staffing rot that they FIRST need to spend resources and focus on.Banks/FIs must be made to improve the responsibility, quality and training of the staff, as a regulatory requirement. Hiring for cheap, ultimately outsources security to the customers. It's unfair. All the 2FAs and security-code hell won't do a thing if the "call is coming from inside the house" per se!
As I've seen numerous times just on this forum alone (e.g. the Duca employee fraud earlier, and now this, etc), that banks are quick to offload their responsibility by hiding behind P.R. blitzes and gaslighting the customers instead of fulfilling their own fiduciary duties.
It shouldn't be upon good Samaritans like the folks here reporting and warning us all. This is not a charity/nonprofit industry we're talking about. It's the trillion dollar financial industry. And they have calculated that the victims are too small to fight back, etc. They should be made more responsible, and we need far more robust regulations and the media's eyes on them.
Very well said iotama.
Simplii Financial initial response to me was that someone must have gotten ahold of my cheque book and used a cheque (it was cheque #1 which is funny in itself) when if they just took a second to look at the cheque they could see that the cheque was obviously fake. What doesn't help either is I was told by the CSR that I spoke with that they cannot view an image of the cheque on their end. So what good is that if someone like myself calls them regarding a fraudulent cheque.
"internal staffing rot that they FIRST need to spend resources and focus on". I couldn't agree with this statement any more. How are we supposed to
protect ourselves when Simplii Financial has an internal thief or multiple thieves taking shots due to the lack of accountability/consequences in this country.
In "magicman's" case, someone tried to write a cheque using on his Savings Account that doesn't even have cheques and he was still charged an NSF fee. I mean common, that is seriously laughable!
So I called Equifax on Monday about what happened to me where I got a letter from Simplii Financial about them doing a credit check on me because there was a credit limit increase request on my account and the CSR from Equifax couldn't even give me a Yes or No answer if Simplii Financial were the ones who
actually did this credit check on me. To make a long story short, all Equifax could do was flag my account so if another credit check is done on my account it would get flagged. So to sum it up, Simplii Financial said they never did this credit check on me and Equifax couldn't tell me who did this credit check on me. So I guess you can just do an anonymous credit check on anyone you see fit? I actually asked the CSR from Equifax if you can do that and he didn't know the answer to this question. I also had to provide my SIN over the phone with Equifax which I did not like either but what are you gonna do. I had to if I wanted any sort of resolution from this ordeal.
"It shouldn't be upon good Samaritans like the folks here reporting and warning us all." EXACTLY!
Just another reason why more and more people are getting in Bitcoin and becoming their own bank.
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