Fraud Alert Text From Your Bank — Canadian Scam Explained
You received a text that appears to be from TD, RBC, Scotiabank, or another Canadian bank alerting you to a suspicious transaction. It asks you to confirm by clicking a link. Canadian banks send transaction alerts but never include links to verify your identity. This text is designed to steal your online banking credentials.
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How This Scam Works
Critical Risk — Canadian Banking Text Fraud
Canadian banks may send transaction alerts, but they never include links to verify your identity or ask for credentials via text message.
Note: This scam typically arrives via text message, not email. If you received a suspicious email, forward it to check@scam.support for a free risk assessment. For text scams, report to the Canadian Anti-Fraud Centre — see all reporting agencies.
You receive a text appearing to be from TD, RBC, Scotiabank, or another Canadian bank alerting you to a suspicious transaction. It asks you to click a link to confirm or deny the charge. The link leads to a convincing replica of your bank's login page that captures your credentials.
According to the Canadian Anti-Fraud Centre (CAFC), Canadians lost over $569 million to fraud in 2023, with phishing and smishing being among the top methods used to initiate fraud.
Red Flags
- Text includes a link to verify your account
- Claims a suspicious transaction was detected
- Sender appears to be your bank but uses an unfamiliar number
- Creates urgency about account suspension
- Asks for online banking credentials or one-time passcodes
What You Should Do
What To Do
- Do not click any links in the text
- Call your bank using the number on the back of your debit or credit card
- Log into your banking app directly to check your account
- Forward the scam text to 7726 (SPAM)
- Report to the Canadian Anti-Fraud Centre
Sources
- Canadian Anti-Fraud Centre (CAFC) — Annual Reports (2023 total fraud losses: $569 million)
- Canadian Anti-Fraud Centre (CAFC) — Phishing and smishing guidance