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Thieves steal thousands from 140 Coast Capital Savings members

Online fraud tactics included phising and 91Ƶbrute force91Ƶ in November and December
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A Coast Capital Savings branch in Abbotsford. (Black Press Media)

Thousands of dollars were stolen in a cyber fraud attack at Coast Capital Savings.

Thieves made off with cash from 140 members in November and December, said credit union spokesperson Erin McKinley on Wednesday.

She said while the total amount is unknown, each member lost an average of $3,000 to $6,000.

The credit union is currently investigating each incident.

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They used two forms of common fraud strategies: phishing and brute force.

Phishing is an attack in which fake emails or text messages are sent to people linking to fake websites that ask for account information. It91Ƶs commonly listed the Better Business Bureau of Canada91Ƶs top 10 annual scams.

91ƵThey built a website that looked like Coast Capital Savings91Ƶ asking people to enter their information online,91Ƶ McKinley said.

Meanwhile, brute force involves using computer programs to repeatedly guess simplistic account passwords until the correct one is determined.

McKinley said the credit union has notified its members of the incident. Reimbursement is being considered on a case-by-case basis.

Coast Capital has more than 50 branches around B.C., mostly in the Lower Mainland and in Greater Victoria.

NOTE: This story has been corrected. The original said that $3,000 to $6,000 was stolen in total, but that was the estimated amount per member.



ashley.wadhwani@bpdigital.ca

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About the Author: Ashley Wadhwani-Smith

I began my journalistic journey at Black Press Media as a community reporter in my hometown of Maple Ridge, B.C.
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