Security

At Libro, your financial security is very important to us. Learn what you can do to protect yourself and your money from debit card fraud, identity theft, real estate fraud and other scams. Also learn what measures Libro takes to ensure the security of Online Banking and what you should do to keep your home computer safe.

Libro will never send you an email with a direct link that asks for passwords, account numbers or personal information. If you receive an email that appears to have been sent by Libro that makes you suspicious, DO NOT REPLY and DO NOT SELECT OR CLICK ON ANY LINKS. Please also let us know immediately. Libro exchanges information with customer-owners privately through Secure Messaging (available through Online Banking, password protected, and sent through a secure server).

Debit Card Security

While Interac is a world leader in security, debit card fraud can occur.

Libro installed new card readers on most of our ATMs. This device, which glows green, prevents the capture of information from debit cards using illegal devices. The new card readers may take a little longer to read the card than before, but otherwise do not affect the way you use the ATM. Most importantly, the card readers heighten security and privacy protection.

Please remember: if an ATM card reader or the reader at the lobby door looks suspicious, please do not use it and contact the branch immediately.

Debit Card Skimming

Debit card skimming involves unauthorized copying of electronic data from debit cards and PINs through the use of hidden equipment such as pin-hole cameras and card reading devices. Once fraudsters have this information, they encode stolen data onto a counterfeit card and use it withdraw funds.
Keep your money safe by protecting your debit card and Personal Identification Number (PIN):

  • Your PIN is a key security feature – never disclose it to anyone
  • Use your hand or body to shield your PIN when using your debit card
  • To report lost or stolen cards, please call 1-800-LOST-111 or 1-800-567-8111

If you become a victim of debit card fraud, you are protected by the Canadian Code of Practice for Consumer Debit Card services, under which all proven victims of debit card fraud will not suffer any financial losses. Contact us immediately if you suspect that you are the victim of debit card fraud.

The Threat of Identity Theft

Identity theft occurs when your personal information is stolen and used without your knowledge to commit crimes such as fraud, theft or forgery. Your identity can be stolen through:

  • Email fraud or Phishing – Phishing occurs when a fraudster sends an email falsely claiming to be a legitimate organization in an attempt to fool a user into submitting personal, financial or password data, usually through a direct link to a “spoofed website” (a replica of the legitimate one). Spoofed sites may appear to have the correct web address or URL but when the link is clicked, the user will be redirected to the spoofed site.
  • Spyware – Software that collects personal information, whether capturing your key strokes or changing the configuration of your computer. This is generally done without appropriately obtaining your consent when your install other software like a music or video file sharing program.
  • Scareware or rogue security software– Fake computer security software appears on your computer and warns you about threats that need to be taken care of right away. The software bombards you with pop-up notices to upgrade your virus protection in order to fix the problem, and prevents you from doing anything else on your computer. Once you input your credit card information you are a target for identity theft.
  • Dumpster diving – Fraudsters rummage through your trash looking for bills or other paper with your personal information on it.
  • Skimming – Your credit or debit card number is stolen using a skimming device when your card is being processed.
  • Stealing – Fraudsters steal wallets, purses and mail.
  • Pretexting – Fraudsters use false pretences to obtain your personal information from financial institutions, telephone companies, and other sources.
  • Pharming - when a fraudster secretly plants a program in your computer to hijack your browser and take you to phishing sites, even when you type in the web address yourself.

Signs that your identity has been stolen:

  • A creditor informs you that an application has been received that you did not make.
  • You receive credit card statements or other bills in your name that you did not apply for.
  • You stop receiving your credit card statements or you notice that you are no longer receiving all of your mail.
  • A collection agency informs you that they are collecting on a defaulted account that was opened with your identity.

Ways to minimize your risk:

  • Keep your Social Insurance Number in a secure place and limit its use.
  • Shred or tear receipts, copies of credit applications, insurance forms, credit offers, or any other personal information.
  • Watch your mail to ensure that your bills arrive on time and in sealed envelopes.
  • Delete spam or other emails that ask for your banking information, credit card details and passwords. Do not click on any links or reply.
  • Check your credit rating once per year to make sure that no one has taken out a loan using your information. If your credit rating is low, but there is no reason that it should be, it could be because there are loans you don’t know about. See our Equifax page to order your credit rating.
  • Report lost or stolen cards immediately.

For more on identity theft, how to protect yourself and how to report it, see the RCMP and OPP’s PhoneBusters and the Canadian government’s Consumer Measures Committee (CMC) websites. The CMC’s Identity Theft Statement can be completed by victims of identity theft and used by financial institutions, credit card issuers and other organizations to investigate claims of identity theft.

The best way to protect your computer and your personal information is to inform yourself and remain vigilant. Visit Microsoft’s Security at Home page for lots of great information and see our Online Banking Security page.

Real Estate Fraud

Fraudsters use stolen identities or forged documents to transfer the title on a property from the registered user to themselves without the owner knowing. The fraudster then obtains a mortgage on the property and disappears when the funds are advanced.

You can protect your property by protecting your identity. Talk to your Coach or your lawyer about the benefits of purchasing title insurance, which protects your ownership or title against any losses incurred because of undetected or unknown title defects.

Scams

Fraudsters only care about your money, and employ a variety of scams to get their hands on it. Fraudsters use professional marketing materials to get your attention by mail, and well crafted and researched telephone scripts to sound legitimate on the phone. Be wary of any offers of large payment in exchange for the use of your financial account.