Guidance on Avoiding Scams

April 02, 2020

The increase in remote services due to physical distancing poses a higher risk of cyber incidents, including phishing attempts (phishing is a method of trying to gather personal information using deceptive e-mails and websites).

Canadians are being targeted by scam artists, who use fear around the current economic conditions to steal investor’s money. People who are contacted by anyone with warnings about their investments or finances should never give out any personal information. In order to ensure the caller is legitimate, it is always best practice to hang up and contact your investment advisor or bank separately after independently verifying the phone number.

Please remember the following to help avoid a fraudulent situation:

  • As discretionary managers, we do not need to contact our clients prior to trade execution, but will contact you to confirm cash withdrawals and contributions that are out of the ordinary.
  • Clients will only be contacted by our client team, either your Portfolio Manager (PM), Client Support Administrator (CSA), or Senior Planner (SP). If you are concerned or unfamiliar with an individual who has contacted you, you may verify their identity with your PM, CSA, SP, or by calling our direct line at 780-429-3500.
    (If you need to confirm the number of the client team you are dialing to, please reference their business card or the number on our corporate letterhead. When in doubt, call our direct office line.)
  • We will not ask for personal information via an unsecure email. Secured emails are encrypted and often password protected.
  • Be suspicious of any email you receive that is not from someone you know or that you are not expecting.
  • If you have any questions, concerns, or you suspect fraudulent activity has occurred relating to your accounts at CWB Wealth Management, please reach out to our Chief Compliance Officer.

We are here to provide you financial peace of mind – through celebrating with you in the good times and offering reassurance in uncertainty. If you would like to be kept informed on the current economic environment, please visit this page.