Monitoring and investigation

Monitoring and investigation

Vancity maintains the quality of our security measures through ongoing assessment, research, testing and monitoring of fraud and potential fraud activities in our branches, and online.

We also train employees to be aware of technology-related threats and their responsibilities to protect and manage member information. And, we work with our industry partners (other financial institutions) and law enforcement to coordinate efforts to catch and deter financial criminals.

Our security program ensures all necessary physical, administrative and technical safeguards are in place to protect the confidentiality, integrity and availability of member information. Our program is regularly updated as technology changes and new risks are discovered. While fraudsters are always finding new ways to attack our systems, we’re continuously learning and adapting to those threats.

Monitoring and security systems
Vancity has sophisticated fraud monitoring and detection systems that run 24 hours a day, seven days a week, to detect suspicious activity and prevent fraud incidents from happening. These systems are continually adapted to ensure we are detecting the newest types of fraud attacks.

Members and Vancity both have a role to play in preventing fraud. Vancity has invested heavily in these detection systems to help minimize the impact of fraud on our members. These systems are designed to identify patterns that indicate that it is a fraudster, not our member, who is making these transactions.

Investigation and blocking of accounts
When suspicious activity is detected, our analysts quickly investigate and, depending on the speed of the attack, they may contact members before taking action. Some kinds of fraud happen extremely quickly (e.g. debit card fraud) and in these cases, we will automatically take action on accounts by blocking cards and then following-up quickly with a phone call to each affected member to inform them of the incident.

When our detection system identifies fraud patterns, we risk-score the activity (higher risk score = more likely to be fraud). If the risk score is high, we will take immediate action to block that members account until they can change their passwords/protect themselves. If the risk score is a little lower, our fraud analysts will investigate the activity by looking through transactions and often contacting the member to determine whether there is fraud involved.

We have experienced fraud investigators, analysts and strategy experts all working together to help protect our members and their money from financial criminals.

Security Guarantee
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