What’s a bank impersonator scam?

In a bank impersonator scam, fraudsters trick you into sharing a one-time verification code to access your account or approve unauthorized transactions.

How bank impersonator scams work?

  1. Fraudsters phish personal information and  login credentials. They will then call pretending to represent your bank. 
  2. On this call, they will inform you that there has been suspicious activity or fraud on your account. They will ask you to share the 6 digit One-Time Verification Code you received from CIBC as part of securing your account.  This code could be used to access your account or approve unauthorized transactions.

Warning signs of a bank impersonator scam

  • You are asked to provide your personal or banking information that the bank has on file for you.
  • You receive a one-time verification code for a transaction or account change that you did not request. 
  • You are asked to provide a one-time verification code as part of the account recovery process. 

Stay safe with our tips

  • CIBC may send you a message explaining the purpose of your request along with a 6-digit code for you to enter to confirm your transaction. Always read the full message carefully. 
  • Never give your personal or financial information to people you don't know, including your bank account and credit card details, passwords, PINs and SIN.
  • CIBC or a government agency will never contact you to ask for your personal or banking information. That information is already on file.
  • Don't rely on caller ID. Fraudsters may disguise their identity using a legitimate organization's name and phone number.
  • If you receive a call from someone claiming to be from a legitimate company, always ask to call them back on their official phone number. Find phone numbers from sources such as the back of your card, an official website or old statements.

Learn more about bank impersonator scams

Canadian Anti-Fraud Centre Opens in a new window.

Report fraud when it happens and track the latest data on fraud in Canada.

The Little Black Book of Scams Opens in a new window.

Download the Canadian Competition Bureau's guide to scams in 8 different languages.

Canadian Bankers Association Opens in a new window.

Read about the latest news and trends in fraud awareness and prevention.