We monitor fraud trends and typical debit and credit card activity. When we detect various factors that indicate a transaction may be fraudulent, we’ll notify you by text, email or phone to authenticate the transaction.
You can instantly verify your purchase to continue using your card or immediately report it as fraud. If fraud is suspected, we will need to speak with you. We’ll try to reach you by phone and connect you directly to a fraud specialist for assistance.
In certain situations, we may block your debit or credit card until we receive confirmation from you that the requested transaction was authorized.
To ensure the security of an account, CIBC needs to attempt to reach you through all contact channels available when we detect suspicious activity.
The fraud prevention alerts you may have set up through CIBC only provide a notification of suspicious activity. With the new system, you can quickly review and resolve a fraud alert. Optional alerts to monitor your accounts and get reminders of upcoming payments will continue.
That’s not a problem. The Fraud Alerts system checks all phone numbers associated with the account to validate if a phone number is SMS (text) enabled.
CIBC is using short code which enables you to send or receive messages free of charge while in Canada.
If you respond to texts while travelling internationally, you may incur charges from the carrier depending on your plan.
You can opt out of receiving fraud alert messages via text, but we encourage all clients to use this method of communication. It is free and provides the most direct and immediate resolution of a fraud alert.
CIBC will continue to follow existing validation processes for communicating with you using phone numbers registered to you. Our fraud system is limited to provide only information on the suspicious transactions. No other details will be released over the phone.