Valerie MacLean, general manager of the Vancouver Better Business Bureau, said there appear to be several variations involving fraud artists posing as bank officials to raise concerns in potential victims about the possible impact Y2K will have on their accounts. The Canadian Bankers Association has issued a general warning about the scam to bank customers. According to the bankers association, some scam artists are attempting to convince potential victims that their bank is having trouble preparing for the Year 2000. The phoney inspector advises the person that all bank customers need to transfer their accounts to one that is specially designed to protect their money until the bank can meet Y2K requirements. The person is then asked for account information to verify their identity and avoid errors.
Authorization is sought to transfer funds to the specially-designed account.
In fact, the bankers association says no bank employee will ever call you and ask for your account information. Bank employees already have this information available to them. Anyone who receives such a call should immediately contact the police or their bank. The country's banks have been working on the Year 2000 challenge since 1995 and will be ready for the changeover to the Year 2000. They are also working with other financial institutions and government agencies to ensure the overall financial system is ready.