TORONTO, October 4, 2023 – The Canadian Bankers Association (CBA) and its member banks encourage Canadians to stay vigilant and learn about cyber safety best practices. In recognition of Cyber Security Awareness Month this October, the CBA is sharing cyber security tips and information aimed at helping Canadians avoid digital scams.

"While cyber security is a year-round focus for the banking industry, Cyber Security Awareness Month serves as an important reminder of our shared responsibility in protecting Canadians’ personal and financial data," says Anthony G. Ostler, President & CEO, CBA. "We've been participating in Cyber Month since 2006, amplifying our sector's commitment to data and privacy protection, and we’re proud to offer new and relevant tools to serve all Canadians."

Recent statistics support the need for enhanced cyber security awareness. The Canadian Anti-Fraud Centre has observed a 40 per cent year-over-year increase in cybercrime losses, while only a fraction of victims reports these incidents. Globally, approximately three billion phishing emails are sent daily. In Canada, more than 94 per cent of the population have access to the Internet, emphasizing the importance of this month's awareness campaign.

In partnership with various stakeholders, including the Government of Canada’s Get Cyber Safe campaign, the CBA has compiled a range of educational materials aimed at empowering individual Canadians and improving their digital health. Now live on the CBA’s Cyber Safety website, this content includes interactive quizzes, guidelines for recognizing questions a bank will never ask their customers, resources for small businesses, and detailed educational kits. All materials are available in English and French and are complemented by an ongoing newsletter featuring the latest tips and tricks on avoiding fraud and scams.

The CBA and its member banks work closely with law enforcement, government departments and agencies, and other stakeholders to educate Canadians on how to stay vigilant, adhere to safe online practices, and distinguish between legitimate requests and attempted fraud. If a customer notices unauthorized activity, they should immediately report it to their financial institution, their local police service and the Canadian Anti-Fraud Centre.

About the Canadian Bankers Association

The Canadian Bankers Association is the voice of more than 60 domestic and foreign banks that help drive Canada’s economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals.

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