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Email this5:31 pm
January 12, 2019
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DITTO ⬆️
What Norman said (Post #20).
- Dean
" Live Long, Healthy ... And Prosper! "
6:07 pm
November 5, 2022
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The older seniors I am talking about are nowhere near Power Of Attorney levels, they live on their own in a building, shop, cook, etc.
But its very clear that dealing with digital banking is basically impossible, as they can have problems with email threads. I guess I was talking about urban seniors who can walk to a bank or credit union.
But no wonder every criminal on earth is targeting them, why wouldn't they? If done from offshore the criminal has basically zero risk, and some seniors have their life savings just sitting there.
You can think of various solutions, but with every solution there is another problem.
6:09 pm
January 12, 2019
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I don't necessarily agree with this CBC article that the Banks are partially responsible, but the Tips in the article are 'Gold' . . .
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Take Notes❗
- Dean
" Live Long, Healthy ... And Prosper! "
7:04 pm
November 5, 2022
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Dean said
.
but the Tips in the article are 'Gold' . . ..
Take Notes❗Dean
Right, thus my conclusion when a senior, for example, cannot manage passwords or use a password manager/generator for 128 bit encryption passwords, and cannot manage 2FA with another device properly, or at all.
For them, use a bank book, and get a dumbphone for phone calls.
Offshore criminals will do anything to steal 100K or 750K. One supposes that is their life dream.
7:52 pm
April 14, 2021
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InterestThis said For them, use a bank book, and get a dumbphone for phone calls.
Bank books are no longer available. My banks took out all their printers. Not even a choice, now.
8:05 pm
November 5, 2022
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HermanH said
InterestThis said For them, use a bank book, and get a dumbphone for phone calls.
Bank books are no longer available. My banks took out all their printers. Not even a choice, now.
That's my point! With the massive rise in fraud against seniors something has to be done. Maybe the gov't will force them. Or maybe not.
11:12 pm
November 18, 2017
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Indeed, my perspective is that of a senior who lives in a big city and can both walk or motorcycle to financial institutions. (Though in one case that means riding out to the suburbs because there's no parking near their downtown locations. But I am always happy to choose an option that includes a bike ride!)
HermanH: Correct, bank books are no longer available. But I insist on mailed paper records and also regularly check my accounts via home phone, either by touch-tone access or live call.
I agree with those who point out that banks should not be expected to cover losses due to customers making bad choices. On the other hand, the banks should have their staff more aggressively making people read their anti-fraud hints posted in the banks, on their websites and in mailed materials!
I've already posted here about my strategy of having the institutions record a reverse-validation question in their customer service systems, so I can ask an incoming caller for the answer to my question!
"Hi, this is your bank calling about..."
"Wait a minute. Please check your CSR system and tell me what my eyeglass prescription is!"
When it comes to avoiding the banks' on-line anti-fraud systems - those on-line fraud abilities are ENABLED by the banks' pushing people on-line to minimize labour costs!
RetirEd
12:21 am
April 14, 2021
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RetirEd said
I agree with those who point out that banks should not be expected to cover losses due to customers making bad choices. On the other hand, the banks should have their staff more aggressively making people read their anti-fraud hints posted in the banks, on their websites and in mailed materials!
Fraud detection is much harder when the bank staff actually call you and then try to authenticate you; exactly what the real scambugs would do. I have reported, on this forum, EQ Bank doing exactly that; they called me and then tried to authenticate me in order to discuss a transaction. I was pretty certain that it was EQB, but still hung up and called them back on the official number.
Now, how does a senior avoid scams when sometimes their own bank actually acts like a fraudster? I tried to warn EQB about their practice and was totally ignored. I filed a complaint years ago with EQB and still have not been contacted.
4:57 am
March 30, 2017
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Nothing wrong with banks trying to minimize labor cost, in fact any cost that can be reduced / eliminated. It's a publicly traded for profit organization, and being a shareholder, I will be upset if they don't.
If one believes a voice call back is enabling fraud, that is just biased. Or one can come with a better security feature ??
I also like the idea when the voice call back will include the caller be able to ask the "predetermined security question", which must be a uniquely setup question, not just mother's maiden name etc. This is clue that the caller is legit.
6:35 am
January 25, 2024
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HermanH said
they called me and then tried to authenticate me in order to discuss a transaction. I was pretty certain that it was EQB, but still hung up and called them back on the official number.
And what will be your solution if YOU call a bank and they have to authenticate you by SMS but you do not have nor want to provide them with your mobile phone (if you have one) and then you have to hang up and agent has to CALL YOU (at land line) and continue???
This happens every time I deal with CIBC.
9:55 am
January 12, 2019
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. . . More ⬇️
We're seeing stories like these almost every day now. 
- Dean
" Live Long, Healthy ... And Prosper! "
10:05 am
April 14, 2021
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CAD said
HermanH said
they called me and then tried to authenticate me in order to discuss a transaction. I was pretty certain that it was EQB, but still hung up and called them back on the official number.And what will be your solution if YOU call a bank and they have to authenticate you by SMS but you do not have nor want to provide them with your mobile phone (if you have one) and then you have to hang up and agent has to CALL YOU (at land line) and continue???
This happens every time I deal with CIBC.
I don't have a cell phone and won't even give my e-mail address to CIBC. I am still able to conduct business with them. I am uncertain what problem you are encountering.
10:12 am
April 27, 2017
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None of it is exactly new. Same stories were coming out 100, 200, 300 and 500 years ago. The methods are developing (on both sides of the equation) but bad players have always existed and always will, and some of them will succeed.
Our ability to manage this risk deteriorates with age and we live longer, so that aspect is new. And there no way of dealing with the problem other than to delegate financial decisions to a trusted person. And thats tricky too.
Some FI are offering a service of adding a Trusted Contact Person (TCP) to your account which seems like a great idea. Suspect transactions trigger calls to this predetermined individual. Seems like a great idea.
10:14 am
April 14, 2021
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Dean said
We're seeing stories like these almost every day now.
Dean
That does not necessarily look like fraud. It looks just as much like a bad investment decision.
11:06 am
September 11, 2013
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I believe safeguarding my money is my responsibility, no-one else's.
To me it was important, very important, as I went through life to build a relationship or two, either within or outside of my family, with someone younger who I can trust 100% and is willing to help me manage my money if I ever get to where I need it.
For those who haven't done so don't banks offer POA services for a fee? I've zero experience with that.
11:15 am
April 6, 2013
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Dean said
We're seeing stories like these almost every day now.
Dean
HermanH said
That does not necessarily look like fraud. It looks just as much like a bad investment decision.
I agree. When an "investment" doesn't turn out as expected and one loses money, it isn't necessarily fraud.
Some businesses or adventures are risky and don't succeed. A small pharma company finds a promising treatment. Unfortunately, issues with the treatment aren't uncovered until the Phase 3 clinical trials instead of during the Phase 1 trials.
Company is not able to raise more funds to replace the funds spent to date on the research and the trials. Company then runs out of money.
11:51 am
April 14, 2021
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I applied to the Canadian Dental Care Plan yesterday. Today, I received a call from the same 833 number and was told that there was a problem with my application and some changes were needed. I told the caller that even though CallerID showed their number, I had no idea who she was. She told me to call back to the official 833 number I called yesterday.
I called the Call Centre, who had no clue as to the problem. 'They only gather information to send back to Processing.' So, they will send it back to Processing, who will probably call me back tomorrow and we go through the same stupid procedure, again, because I cannot authenticate them. There is no way forward. I will not reveal any of my personal details to someone who calls me.
What a sh*t show. They create the problem and then have no way to fix it.
I did ask for the Operator name and ID#. (Those details are written into the contact log associated with every file.) I will ask the next person to call me to look at the contact log and give me those details as a work-around to authentication. What a clown show.
2:18 pm
January 25, 2024
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HermanH said
I applied to the Canadian Dental Care Plan yesterday. Today, I received a call from the same 833 number
I am NOT aware of any 833 number regarding CDCP.
I do not think they have a time to call every and each person applied to CDCP in case of issue.
When I had an issue with CDCP they sent me a letter by mail. THEN I called number listed on government web site. It could be '833', do not remember anymore nor care. Gov web site is the way to provide proper info.
EVERY number and 'company name' could be spoofed. And scammers can speak Perfect Canadian English or voice could be generated by damn AI.
So no, I do NOT accept any calls from 'officials' unless I initiated a call.
This AI garbage just created PERFECT way to scam people; with voice, images, videos, you name it. Look at youtube (saw by accident while looking for particular video) video where trump, north kor moron and another guy dance while putin and I guess frog are drumming drums. Can you say they are not real???
3:31 pm
April 14, 2021
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CAD said
HermanH said
I applied to the Canadian Dental Care Plan yesterday. Today, I received a call from the same 833 numberI am NOT aware of any 833 number regarding CDCP.
I received the 833 number on a letter from Service Canada, dated May 2025. I received another copy of the same letter dated June 2025, today. The number is the same from the Canada website:
https://www.canada.ca/en/services/benefits/dental/dental-care-plan/contact.html
Of course, scambags could just be sending out addressed mail and substitute with their own phone number, but I think it a little far-fetched and too expensive for their resources.
3:01 am
November 18, 2017
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Don't freak out!
An 833 AREA CODE is just like any other 1-800 number! It doesn't identify any more than that. Since the International Telecommunication Union ran out of 1-800 number decades ago, we've been working through the 1-888, 1-877 and similar area codes for toll-free numbers for all new assignments when there are no previous ones available.
All my correspondence and contacts with the CDCP have used 1-833 numbers.
As HermanH points out, sending mass snail-mail would be incredibly expensive for a scammer. That's why they use E-mail and boiler room callers almost exclusively. I have only once in my life received a snail-mail scam request, from a "Nigerian Prince." It was styled like a personal letter but obviously photocopied, including the signature. And it provided no return address, just an E-mail sucker link.
RetirEd
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