RBC offers fraud
 prevention advice

RBC has taken the opportunity of March being designated Fraud Prevention Month in the US and Canada to raise awareness about fraud and how consumers can protect themselves.

“While the information age may make it easier for fraud to occur, we’ve implemented systems that work around the clock to control and detect fraudulent activity,” said Jason Waters, vice president and country head, RBC Cayman.

He said that RBC uses “a diverse range of technologies and security mechanisms to ensure the safety, confidentiality and integrity of our clients’ information and transactions”. However, “an informed consumer is always the best line of defence against fraud,” he added.

To this end RBC provided a number of general tips that help protect against fraud:

Keep personal information confidential. Do not give out personal information over the phone, through email or over the Internet unless you initiated the contact independently and know the person you are dealing with.

Keep your personal information safe. An identity thief will pick through your garbage or recycling bins, so be sure to shred receipts, copies of credit applications, insurance forms, etc.

Protect your PIN and passwords. Do not reveal your PIN or passwords to anyone, including employees of RBTT, RBC, family members and friends. When conducting a transaction at an ATM or retail (point-of-sale) location, keep your client card/credit card within sight and shield the keypad when entering your PIN.

Unusual transactions. Beware of “too good to be true” offers such as “you’ve inherited a large sum of money but in order to claim it, send us a deposit first”. You should never agree to conduct financial transactions on behalf of strangers.

Contact the authorities. If you suspect you are a victim of fraud, contact your bank immediately.