May Alert
Bank & Credit Union Impersonation Scams
Prosperity would like to notify members that a significant rise in fraud cases has been identified with scammers impersonating banks and credit unions. Currently, corporate accounts seem to be the primary target, with transaction amounts occurring just below $10,000, but individuals may be targeted as well. Scammers will try to gain a member’s trust, harvest login credentials, and/or direct members to authorize high-value transactions. Please follow these tips on how to protect yourself from falling victims.
What to watch for:
- Urgent or threatening messages
Scammers will try to create a sense of panic to prevent you from thinking clearly.
- Requests for sensitive information
Be suspicious of any requests for your PIN, one-time passcode, online banking password, etc.
- Pressure to act immediately
Scammers will state that you must act now to prevent a supposed problem from getting worse.
- Requests to transfer money
Be suspicious of any requests for you to move money as this is not normal.
- Unsolicited calls or messages
A real bank or credit union will not call, text, or email you asking for your password, PIN, or one-time passcode.
- Poor quality communication
Watch for messages that contain grammatical errors, misspellings, low-resolution images, or odd formatting.
- Caller-ID Spoofing
Be aware that a spoofer works by sending a falsified caller ID value to appear to come from a trusted number. When in doubt, hang up and call your local branch.
How can I protect myself?
- Call your bank or credit union directly
If you have concerns regarding your accounts, or you received an unexpected email, text message, or phone call, contact your financial institution directly. Do not use any numbers provided within a suspicious message.
- Never share sensitive information
A legitimate bank or credit union will never ask for personal information such as your PIN, online banking password, one-time passcode, etc. No matter how convincing the message or caller, do not provide this information.
- Don’t trust the phone number or email
Scammers are skilled at spoofing phone numbers and email addresses, so don’t be fooled.
- Be wary of urgent requests
Always be skeptical of urgent requests to move money from your accounts.
- Use strong, unique passwords
Safeguard your online accounts with strong, unique passwords and use a password manager if possible.
- Sign up for alerts
You can stay on top of any suspicious activity on your account by receiving fraud and transaction alerts. Unfortunately, this type of scam can be very convincing, so if you have fallen victim, please contact your financial institution immediately, as well as notifying law enforcement and the Canadian Anti-Fraud Centre (CAFC).
Unfortunately, this type of scam can be very convincing. If you have fallen victim, please contact your financial institution immediately, and notify law enforcement and the Canadian Anti-Fraud Centre (CAFC).
Fraud Alert Archive NEW
April 2026 - Deepfake ScamsMay 2026 - Bank & Credit Union Impersonation Scams
Fraud
Recognize it. Report it. Stop it.
If you suspect your account has been compromised, please report it to us immediately. This will allow us to take appropriate steps to help prevent fraud. Individuals impacted by fraud should also contact local police and file a report about the fraud.
In addition, impacted individuals should contact Canada’s credit reporting agencies – Equifax and TransUnion - and have a fraud alert put on their credit file. This could help prevent someone else from taking out a loan or credit card in your name.
The Canadian Anti-Fraud Centre also has a website which lists the most recent scams, and is full of tips to identify, prevent, and report all types of fraud.