3 SMS fraud tactics to watch out for in 2017

SMS fraud, text scams or smishing. Call it what you want, but the goal remains the same: to get you to click a link in a text message and log on to a fake banking website.

These are the 3 most common text tactics scammers use to try and trick you into providing personal information.

1. Problems with system access

Scammers regularly try to get to you by saying there's some sort of problem with a system or your account. They might tell you that access to your bank account has been suspended, and they usually say you need to click a link in a text message to resolve the issue.

It's important to be able to recognize a real text message from your financial institution. Desjardins uses a fraud prevention service via text message, contacting you and asking you to call the number on the back of your card to confirm credit card purchases. Desjardins never asks for personal information via text.

2. Interac e-transfer

When someone sends you an Interac e-transfer, you receive an automatic text message or email. The sender's name should be clearly marked in the message. You probably know that the next thing you do is click a link that takes you to the log on page for your financial institution, then you go through the steps to deposit the money. What you might not know is that scammers copy the model to try and steal from you.

They'll send an email or text message that says you received a payment. The messages can be almost identical to the real notification you'd get. The easiest way to check is to see if you recognize the name of person who sent you money. Are you actually expecting money? It doesn't usually fall out of the sky.

3. Tax return

Scammers know how to take advantage of tax season, too. They'll try to convince you that they're the provincial or federal revenue agency and tell you that you've received a tax refund.

Be careful! Don't try to contact the revenue agency at the number in the letter, email or text you've received. Go online to the official website to find out whether or not the information is true.

If you get a fake text message or email that's meant to scam you, forward it to protection@desjardins.com and then delete it permanently.

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How to identify SMS scams