Legal
Legal
Financial Scams
Know How to Identify & Avoid Fraud
The goals of these fraudsters is simple - steal your money and identity. In order to do this - they may try to get you to invest in fake financial products in order to obtain your bank account details or to persuade you to transfer money to them. Be very sceptical of claims of instant returns or high yield with no risk and keep in mind that being pressured to make any decisions quickly is always likely a red flag.
Common Types of Scams
These are some types of common financial scams which you need to be aware of:
Fraudulent saving opportunities
These are often referred to as “savings products” or “saving accounts” - these typically involve someone getting reaching out to you by telephone or email to offer an investment opportunity by using a fake contact address.
The conditions in which these opportunities are offered are always suspicious and may involve the promise of “guaranteed” returns or abnormally high interest rates.
Investment Scams
These often involve financial investments with the promise of some very high rates of return. The investments may be in any type of financial product, including real estate, royalties, commodities or precious metals and minerals.
Impersonation & Identity Theft
These scams usually involve someone impersonating a bank or financial services institution to offer fake products or services in an attempt to steal your money and identity. The fraudsters may even use identities of bank’s real employees when contacting victims.
Beware of People Posing as Northvale
The protection of your personal information is our top priority. Knowing how to identify potentially suspicious requests will help prevent fraud and ensure your data remains safe.
Northvale will never ask you to do the following:
- The protection of your personal information is our top priority. Knowing how to identify potentially suspicious requests will help prevent fraud and ensure your data remains safe.
- Connect to websites which are not endorsed by Northvale.
- Call us on a new telephone number.
- Make a cash transfer to a safe account or a new bank account (payment instructions can be verified on your online account at anytime) nor hand over cash.
- Carry out a “test” transaction online.
- Take quick decisions or respond under pressure, especially through unsolicited messages.
- Download an attachment or install software or let anyone remotely log on to your computer or any other devices during or after a call.
Stay In Control With These Easy Guidelines
Please follow these simple steps to safeguard your personal data:
- Do not disclose your login and personal details to third parties. Northvale will never ask you for your sensitive information.
- Always use your personal Northvale secure account.
- Visit the Northvale website by typing its address in your browser. Do not “copy and paste” links provided in emails or text messages in your browser.
- Never be rushed into anything, wait 5 minutes and reflect on what is being asked.
- Increase your system security. Secure your computer with effective security programs with regular updates. For example install a firewall or use the latest version of your browser because most browsers have built-in protection against phishing and will notify you in case you open a fraudulent website. Ensure your operating system is also up to date. Use a recognized anti-virus software and update it regularly. Use an anti-spam and anti-spyware programs. Delete cookies, browser history and cache as often as possible.
- Take precautions when using a shared or open-access computer (internet cafe, hotel lobby etc) or wifi hotspot. Always log out of your session using the buttons or hyperlinks provided and close the browser.
- Make your password more secure. Combine capital, lowercase letters and special characters with numbers to create strong passwords and change them regularly.
