FRAUD, ONE OF THE FASTEST GROWING SEGMENTS OF OUR INDUSTRY

Joseph Bajic, Chief Compliance Officer and Vice-President, Compliance

AGENDA

• Cybercrime

• Identity theft

• E-mail hacking

• Steps to take

WHAT IS CYBERCRIME?

• ‘Cybercrime’ is a blanket term that covers a wide range of criminal activities that are carried out using computers and the internet.

• Cybercrime includes:– Computer misuse (including hacking, spam e-mail, Trojans, viruses

and botnets) – Financial fraud (including scams, online theft and phishing) – Identity theft and identity fraud – Offences against a person (including cyberbullying, trolling,

hate crimes)

TOP TIPS TO AVOID CYBERCRIME

• Treat unsolicited e-mails with caution

• Do not open attachments in unexpected e-mails

• Do not share files and programs

• Avoid free software unless it is reputable

• Use anti-virus software

• Complete security updates

• Install a firewall

• Do not share personal information

• Use different passwords on different websites

• Shred everything

TIPS TO PROTECT YOUR PRIVACY

• Don't post what you don't want others to know

• Keep personal information to yourself

• Use different e-mail addresses

• Use security technology

• Control cookies

• Use public Wi-Fi access points with care

• Tell your children about online privacy

• Consider encryption

MOST DANGEROUS WEBSITES

• Blogs and web communications

• Hosting and personal hosted sites

• Business and economy

• Education and reference

• Technology

• Entertainment and music

• Automotive

• Health and medicine

• Pornography

IDENTITY THEFT

Method:

• Personal information compromised

• Seek information

• Account access

• Account changes

• Redemption

IDENTITY THEFT

Detection and Prevention:

• E-mail communication

• Assante e-mail address

• Confirm orders

E-MAIL HACKING

Method:

• E-mail account compromised

• Send “spoofed” e-mail

• Request redemption

E-MAIL HACKING

Detection:

• Fraudulent requests are often:– marked urgent– requests to reply and correspond only through e-mail– requests for proceeds to be sent to a third party or internationally

• Questions to ask when receiving e-mail redemption requests:– Does the client normally communicate through e-mail?– Is the client using his/her normal grammar/style?– Is the client addressing you in the normal manner?– Does the client seem to be unconcerned with redemption penalties?– Do payment requests that are sent electronically have unusual

timestamps (indicating different time zones), suspicious looking domain names or fax trailers?

E-MAIL HACKING

Prevention:

• Change in patterns • Vary methods of contact

• Confidential information over e-mail

STEPS TO TAKE IF YOU SUSPECT ATTEMPTED FRAUD

• Immediately contact your Branch Manager and Compliance at askcompliance@assante.com.

• Reply to the e-mail informing the client (fraudster) to call with requests

STEPS TO TAKE: ADVISOR/BRANCH

• Review client’s accounts

• Report the incident

• Change account numbers

• Review communication protocols

STEPS TO TAKE: CLIENT

• Fraud alerts

• Protect computer

Assante Wealth Management’s advisory services are offered through Assante Financial Management Ltd., Assante Capital Management Ltd. and Assante Estate and Insurance Services Inc. Assante Estate and Insurance Services Inc. is owned by Assante Financial Management Ltd. and Assante Wealth Management (Canada) Ltd. ®The Assante symbol and Assante Wealth Management are registered trademarks of CI Investments Inc., used under licence.

Thank You

FOR ADVISOR USE ONLY