Security alerts: Learn what to look for

March 2026

Fraudsters are stealing debit cards through a scam involving transportation services (taxis) or meal delivery services. Be cautious if someone asks you to help them with card payments in exchange for cash. Fraudsters pose as drivers and customers, pretending that the driver can't accept cash as payment. They ask you to use your debit card to complete the transaction for them and pay you the amount in cash immediately. When you make the payment, the driver’s tampered point-of-sale (POS) machine secretly records your PIN and card details. They then switch out your card with a similar one and disappear, leaving you at risk for unauthorized transactions or fund withdrawals. This is known as the “swap theft method”.

April 2024

Criminals continue to target consumers and organizations to commit cheque fraud. They will intercept mail to steal personal, business and government-related (e.g. tax refund) cheques. Once they have the cheque, fraudsters use illegal methods to alter information on the cheque, such as the payee and amount. Criminals rewrite the cheques to their own (often fake) accounts or sell the cheques on the dark web.

March 2026

A digital wallet is an app that can store various payment methods – including credit cards, debit cards, and others – to allow people to make purchases with their phones and mobile devices without the use of physical cards. Examples of digital wallets, also known as mobile wallets or e-wallets, include Apple Wallet, Google Wallet and Samsung Wallet. Although digital wallets are intended to help users securely save payment data, fraudsters are sending phishing emails and text messages that look like they come from legitimate organizations – including banks and retail stores – to trick individuals into giving up confidential information including bank and credit card details. Once fraudsters have that information, they can successfully add a victim’s card information to digital wallet applications they control and process unauthorized transactions. These schemes can also include requests to provide a one-time password sent to you by your bank via email, phone or SMS.

November 2025

If you’re considering selling your old devices or last season’s designer clothes online, watch out for "accidental" overpayments that exceed the agreed-upon price. These scams involve tricking you into refunding money to a fraudster who has overpaid you with a bad cheque, stolen card and/or electronic money transfer (EMT), or wire payment.

August 2026

Fraudsters may try to take advantage of class action settlements and other refund programs by sending phishing emails, text messages or social media messages claiming you’re eligible for a payment. These messages often include links to fraudulent websites that look like they belong to legitimate organizations and may ask you to provide personal or financial information to “claim” or “process” your payment.

These scams can be convincing because they may refer to real settlements, current events or widely reported refund programs. In some cases, fraudsters may also create fake settlement websites or impersonate administrators to trick people into sharing sensitive personal or financial information, passwords or verification codes (one-time passcodes).

November 2025

Fraudsters are impersonating banks to obtain individuals’ bank card information and passcodes to access their accounts. Fraudsters may use Caller ID spoofing to make their request appear legitimate. The number you see on caller ID may match the number listed on the bank’s website/back of the debit card.

Spoofing can occur when someone disguises a phone number, email address, sender name or website URL to convince you that you are interacting with a trusted source.

Important: BMO will never contact you via unsolicited email, text, or phone call to ask for sensitive information, passwords, PINs, or verification codes (one-time passcodes).

If you get a call, voicemail, email, or text from someone claiming to be from BMO and you think it’s suspicious, hang up and contact us immediately using the information on the back of your card.

March 2026

A new variation of the bank investigator scam is trending where fraudsters are contacting victims pretending to be their bank and indicating their bank account has been compromised. Fraudsters persuade victims that in order to safeguard their account while waiting for a new debit card, they are required to send an e-transfer transaction to their personal mobile phone number.

May 2026

Fraudsters are impersonating banks and financial institutions to target businesses and organizations. They may call claiming to flag a problem with an account or a transaction before asking to be connected to someone in an organization’s finance or accounts payable department. These scams can involve AI-generated voice cloning and other techniques to make the calls sound legitimate. The goal is to trick targets into giving up financial information that can be used to commit fraud.

September 2025

Fraudsters are impersonating banks and calling individuals to try to obtain their bank card and PINs in order to access their accounts and funds.

Fraudsters are posing as fraud investigators from banks to call individuals and try to convince them that their credit or debit cards have been compromised. They may use Caller ID spoofing to make their request appear legitimate, so the number on caller ID could match the number listed on the bank’s website or the back of a card even though it is operated by fraudsters.

When they make contact, the fraudsters are trying to trick victims into providing their PINs, passwords or account credentials. The fraudsters are then telling victims that a “courier” will come to their homes to collect their supposedly compromised cards to return to the bank. Once they have these cards, fraudsters can steal money, make fraudulent transactions or access the victims’ accounts.

Important: BMO will never contact you via unsolicited email, text or phone call asking for your bank card, PIN or other sensitive information. BMO will never send a courier to pick up your card and PIN. If you get a call, voicemail, email or text from someone claiming to be from BMO and you think it’s suspicious, do not share any personal information and contact us immediately using the information on the back of your card.

January 2026

Cybercriminals are targeting individuals by sending phishing text messages claiming to be their bank. Scammers indicate the individual has a “New Alert” from their bank and open the link in the text message to see the alert. When individuals open the link, they are taken to a fake banking login page that appears to be legitimate. Individuals unwittingly provide banking information to log in; fraudsters then use information collected to access their accounts.

The only BMO Alert you will receive on your mobile device via SMS regarding your accounts and credit cards will come from our 6-digit number “266898.” Our code never changes, so use this code to determine if it is BMO messaging you.

November 2025

Scams involving the use of newly developed artificial intelligence (AI) voice cloning tools are on the rise. To create a voice clone, fraudsters only need a short audio clip of someone's voice - often taken from a social media video or elsewhere online. Fraudsters will then place voice calls using the cloned voice of a friend or family member in an attempt to scam victims out of money.

September 2024

Public Wi-Fi networks can be found and accessed almost everywhere, and while they may be convenient, they can be dangerous.

Cybercriminals may exploit people connected to public Wi-Fi by using multiple tactics, including the common “man-in-the-middle” attack. This occurs when attackers position themselves between the user and the public Wi-Fi server being used. By doing this, they can view and capture your online activity, steal your personal and financial information, tamper with data packages, and install malware or spyware on your device – all without your knowledge. Fraudsters can also create fake public Wi-Fi webpages that look like the login page for the network you are searching for, luring you to enter your login information or other personal details.

Using such attacks, fraudsters can take advantage of Wi-Fi users from virtually anywhere – all they need to do is wait for someone to log on and use the public Wi-Fi to share personal information, access their accounts, or make online payments.

November 2025

In these scams, an individual will receive a phone call from a fraudster claiming they work for a reputable company such as a bank, telecommunications, or retail company. The fraudster convinces the customer an error has occurred on their account: either funds meant for someone else have been deposited into the individual’s account accidentally, or their computer is at risk of being infected with a virus. Fraudsters indicate they need access to the individual’s computer to help correct the error; once on the victim’s device, they use remote access to install malware, access the victim’s online banking accounts, transfer funds, or steal their personal and financial information.

Note: Fraudsters frequently target older individuals with this scam.

May 2025

Scammers are impersonating technical (tech) support staff for well-known companies to trick people into believing there is a problem with their computer. The scammers may call you or send messages via email or text that look like they are from a trusted organization to claim that there is a problem with your account or computer. They may also use website pop-ups to trick you into calling a number for assistance in removing a virus that was detected on your computer. They may ask for payment to help fix these nonexistent problems or request remote access to your computer, which they will use to steal your personal information or install malicious software such as ransomware. These scams are targeting both individuals and businesses.

November 2025

With Canada Post advising customers to expect delays amid rotating strikes for unionized postal workers, be aware that fraudsters may try to exploit confusion and uncertainty over the situation to target individuals with a variety of scams.

October 2024

Scams involving AI-generated fake videos, pictures and voice (also known as deepfakes) are becoming increasingly common and convincing. By using AI tools, fraudsters can create realistic deepfakes that mimic human-like text, speech and/or appearance to carry out sophisticated social engineering attacks in our personal and professional lives.

February 2024

Be vigilant against the surge of imposters pretending to be agents from the Canada Revenue Agency (CRA) during tax season. These sophisticated scammers may target individuals and threaten legal action, arrest, or asset seizure unless immediate payment is made. They will contact their victims via phone calls, emails, text messages or social media, and often request payment by untraceable means, such as gift cards or cryptocurrency.

Remember: As a taxpayer, you should be cautious if you receive any communication that claims to be from the CRA and/or police officers representing them, and requests personal information or money.

February 2024

Scammers are impersonating banks, telephone companies, officials from a Chinese Consulate office, or Chinese law enforcement, calling victims and claiming that they are being investigated for fraud or are in trouble with the Chinese government. The scammers may have the victim’s personal information or copies of official documents and may threaten the victim with arrest or deportation to China unless they send money or provide personal and financial information such as passport and credit card numbers.

Arm yourself with knowledge by reading our brochure about protecting yourself from scams targeting the Chinese community. Available in English, French, Mandarin and Cantonese.

April 2026

Fraudsters are increasingly posing as police officers to trick people into urgently handing over money, personal information, or access to their accounts. These scams often involve pressure tactics designed to create fear or panic. Fraudsters may use caller ID spoofing, supply false names, or provide realistic-sounding fake badge or case numbers to make their requests seem more convincing.

April 2026

Fraudsters are impersonating police officers from China, contacting Canadians through online chat platforms and accusing them of being involved in money laundering. The fraudsters indicate they can clear the victim of any wrongdoing if the victim wires them money. The fraudster makes threats to the victim’s safety and the safety of his/her family if they fail to comply with the request.

August 2026

Fraudsters are impersonating recruiters, hiring managers and representatives from banks and other well-known companies to target job seekers and professionals. These scams may involve fake job opportunities, fraudulent email addresses, phony interviews, or messages sent through email, text, social media or messaging apps. Fraudsters may also target senior leaders and other professionals with offers of high-level job opportunities that do not exist.

The goal is to trick individuals into sharing personal, financial or business information, giving up money, or clicking links that lead to fake or malicious websites.

January 2025

Fraudsters are impersonating representatives from well-known telecommunications companies. Ultimately, the goal of the fraudsters is to try to trick their victims into giving up money, personal information, or access to their accounts and devices.

November 2025

Fraudsters are impersonating representatives from telecommunications companies and contacting individuals before using a variety of social engineering tactics to try to trick victims into sending funds via international money transfers.

August 2024

Everyone wants in on the newest, seemingly most lucrative investment offer – and right now, fraudsters are using market interest in cryptocurrency to lure investors into scams ^{footnote 1 1}. They use high-pressure sales tactics and promises of high returns to trick victims out of their savings. As with regular currency, scammers may look to deceive you into sharing your personal information so they can commit identity theft, account takeovers, or unauthorized transactions, or they could try to manipulate you into transferring your money or cryptocurrency directly to them. Cryptocurrency’s novelty, decentralization and lack of oversight may enhance the complexity of these scams while reducing the likelihood of victims recovering their funds.

March 2026

Investment scams are any false, deceptive, misleading or fraudulent investment opportunities, often offering higher than normal or true monetary returns. Fraudsters are contacting individuals posing as financial advisors from well-known entities. They may know information about you obtained from social media or the dark web. You may be made aware of this opportunity via text, email, advertisement on social media, phone call, or you could receive a flyer. They offer lucrative investment opportunities and present what appear to be legitimate websites and documentation. When your money is transferred to the fraudster, it is not invested and has gone to the fraudster.

February 2025

Pig butchering scams get their name from the way scammers treat their victims like "pigs" to be fattened up before the financial "slaughter." Scammers use fake online personas with elaborate storylines to methodically build personal relationships with their targets, gaining their trust over time. Once the victim feels secure, they are convinced to invest in fake cryptocurrency platforms, often seeing phony returns to lure them into making larger and more frequent investments. Eventually, the scammers take the money and disappear.

February 2026

Fraudsters are creating fake ads, websites, and online trading groups that look like they’re from trusted financial companies. They use real logos and well-known brands to convince you to join a “trading forum,” where they hype up certain stocks. The fraudsters’ goal is to get individuals to buy the stock while they secretly sell their own shares. Once they “dump” the stock, the price crashes — leaving victims with major losses.

January 2026

Fraudsters are impersonating customer support agents from online retailers, calling individuals and claiming that large purchases have been made on their accounts. They claim they want to help reverse the charges as soon as possible.

January 2026

Scammers are manipulating gift cards and tricking individuals into buying worthless cards. Gift card numbers/PINs are all that are needed to use a gift card’s balance. Scammers will steal numbers/PINs and put inaccurate numbers on the back of gift cards, scan gift card numbers to use online later, or swap out new cards with used ones — all actions resulting in a useless non-refundable gift card for the customer.

November 2025

Ticket scams (for concerts, festivals, etc.) are on the rise in the U.S. and Canada. It can be challenging to recognize fake tickets or phony vendors, as fraudsters can design exceptionally realistic fake digital tickets and ads, as well as engage their victims in stories that sound and feel legitimate. As a consumer, it is important to know what to look out for to spot ticket scams and be cautious when making any online purchase.

November 2025

Business email compromise scams involve a fraudster getting a hold of your funds or merchandise by sending an email that appears to come from a familiar source, making it seem like a legitimate request. The fraudster could pose as a client, colleague or supplier, and the fraudulent email might ask the victim to change payment instructions or to share financial information. The goal of the fraudster is to trick employees into helping them commit financial crime.

February 2024

Fraudsters are profiting from the generosity and kindness of individuals hoping to make donations to aid in global emergencies and natural disasters. These scams, known as charity fraud scams, can come in many forms, including text messages, emails, phone calls, social media posts or ads featuring charities asking for donations. The requests may seem official, sometimes using a charity’s logo, a flag, a sense of urgency, or other compelling tactics to trick recipients into sending money quickly and without taking time to ensure the charity is legitimate.

November 2025

Unemployment in Canada continues to be a significant issue and cybercrime related to employment scams is consequently increasing. Individuals actively looking for work are particularly vulnerable. These scams involve attractive and convincing job offers for easy money, high wages, freelance work, flexible working hours or exciting future opportunities, and can be marketed via text, email, or phony websites. Fraudsters may also pose as legitimate companies or executives, using their names when luring victims.

Resumes that are posted online are also attractive targets for scammers who reach out offering various employment such as caregiver, assistant, and data entry opportunities.

January 2026

Criminals have been targeting mail and carriers to commit cheque fraud. They typically steal personal cheques, business cheques, tax refund cheques, and cheques related to government assistance programs, such as Old Age Security (OAS) pension payments and unemployment benefits.

November 2025

Title fraud is a form of real estate fraud that is currently on the rise. It comes in various forms and can result in property owners or landlords unknowingly having their property mortgaged or sold entirely. In all cases, fraudsters use impersonation tactics and identity theft to conduct and monetize the crime. It is important to be aware of this increasingly widespread scam and ensure the necessary steps are taken to keep you and your home safe.