Personal Finance

Latest phishing mail scam using fake bank letter?

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  • Oct 12th, 2018 11:03 am
[OP]
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Dec 24, 2007
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BC

Latest phishing mail scam using fake bank letter?

Don't know whether this is a hoax but posting as a precaution since it could be pulled off.

Anyways, from what appears to be a text message is a fake bank letter is being sent out with a fake self-addressed envelope enclosing an official CRA form. Not being suspicious one would just fill in the form thinking that the bank needs to the info and mail the form.

So be cautious regarding any "self-returned envelopes" coming in the mail, better to just drop off in person.
bank letter.JPG
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Jan 30, 2012
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WetCoastGuy wrote:
Oct 11th, 2018 3:57 pm
Anyways, from what appears to be a text message is a fake bank letter is being sent out with a fake self-addressed envelope
I am very curious how a text message contains a letter and a self-addressed envelope :)
[OP]
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:facepalm: Poor choice of words, the text message shows a photo of the fake bank letter
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Apr 5, 2016
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It's actually a legit letter from BMO. The form attached is RC518 from CRA. Basically all new accounts opened from July 1 2017 to now are required to report their tax residency. If you did not answer or put unknown during account opening, BMO will send a letter to indicate your status. If you do not reply afterwards, you get reported to CRA for follow up. All financial institutions have to follow this new rule from CRA.

You can go to any BMO branch to confirm. That return letter goes to BMO's head office in Montreal if it's the same one I have. According to BMO, they sent it these letters starting Sept 28.
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Mar 9, 2012
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bomber17 wrote:
Oct 11th, 2018 10:12 pm
It's actually a legit letter from BMO. The form attached is RC518 from CRA. Basically all new accounts opened from July 1 2017 to now are required to report their tax residency. If you did not answer or put unknown during account opening, BMO will send a letter to indicate your status. If you do not reply afterwards, you get reported to CRA for follow up. All financial institutions have to follow this new rule from CRA.

You can go to any BMO branch to confirm. That return letter goes to BMO's head office in Montreal if it's the same one I have. According to BMO, they sent it these letters starting Sept 28.
You'd think they'd tell the customer to come into the branch. Sending your SIN and DOB through the mail is a very poor security method by BMO, who should be ashamed of themselves.

What I don't understand, why wouldn't BMO have that info already?
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Apr 5, 2016
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jeff1970 wrote:
Oct 12th, 2018 10:45 am
You'd think they'd tell the customer to come into the branch. Sending your SIN and DOB through the mail is a very poor security method by BMO, who should be ashamed of themselves.

What I don't understand, why wouldn't BMO have that info already?
Idk, what they told me was because it's for compliance, it's done through their risk and compliance department and not through the branch because they have to send it to CRA. Doesn't make sense to me but that's what it is.

The problem is that BMO does not that that info because it wasn't provided in the first place. This is why they're asking for it now because CRA is demanding it. Seems like they were suppose to follow up earlier but waited till now.
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Ex Koodo customer. Beware of their tactics.

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