Scam Prevention Quick Tips: Stay Safe with Neo! 🛡

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Hey Everyone! With the holiday season in full swing, its a super important time to be on the lookout for scams that are more prominent throughout the holiday season. :eyes: :christmas_tree:

Here are three scams you need to watch out for during this holiday season.

:one: Unauthorized Access Scams

Scenario:
Fraudsters may contact you pretending to be from Neo (or another bank), claiming there’s suspicious activity on your account. They’ll ask for authentication codes sent to your phone, email, or app to “fix” the issue.

What to Know:

  • Neo will NEVER ask you to share your passwords or one-time codes (OTPs).
  • If unsure about any communication, contact us directly via the app or the number on the back of your card.
  • Legitimate institutions will never request Neo account one-time codes (OTPs).

Key Tip:
Always read messages carefully—look for phrases like: “Do not share this code with anyone.”

Learn More:

:two: Buyer & Seller Scams

Scenario:
You find an amazing deal on a resale platform. The seller asks for full payment upfront via e-Transfer but disappears after receiving your money.

What to Know:

  • If a deal sounds too good to be true, it probably is.
  • Confirm legitimacy with photos, receipts, or proof of authenticity before sending funds.
  • Use trusted platforms and pay with your Neo card for added perks like cashback.

Key Tip:
Never pay in full until you’ve received and verified the goods.

Learn More:

:three: Investment Scams

Scenario:
A “firm” promises to double or triple your investment with minimal effort. They ask you to open a Neo account and transfer funds to their platform, only to disappear later.

What to Know:

  • Neo does not offer crypto investments.
  • No legitimate investment firm will require you to open a specific bank account.
  • Never download screen-sharing softwares at someone’s request.
  • Do your own research—check if the firm is registered with Canadian regulators.

Key Tip:
If an investment seems too good to be true, it probably is.

Learn More:

:arrow_right: If you have any questions, feel free to post them below. Also if any of you have encountered these scams or anything similar and would like to share your experience below, please do so because it helps get the conversation started and helps others avoid falling for these scams.