Bank fraud is rising sharply in Canada, draining people's savings while banks often refuse to reimburse victims. The Canadian Anti-Fraud Centre reports that fraudsters employ various methods like phishing, spoofing, and unauthorized e-transfers to steal funds. Financial institutions predominantly evade accountability, blaming victims instead. Cybersecurity expert Claudiu Popa expresses disappointment at banks prioritizing their reputation over customer protection. He emphasizes the need for improved security practices, advising individuals to regularly change passwords and recognize the dangers of common security gaps exploited by criminals.
"Banks appear to be protecting themselves and their own reputations, rather than trying to remedy a situation."
"Use strong, unique passwords. Change your password regularly—every three months is recommended—and make it unique."
"Popa says he's seen firsthand how criminals exploit everyday habits and security gaps."
"Every week, Go Public hears from people whose accounts have been emptied by fraudsters using everything from phishing emails to phone spoofing."
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