This month is the traditional time for sharpening pencils, back-to-school shopping, and pop quizzes. If you think you're an A-student when it comes to preventing fraud, take this true or false quiz.

Question #1: True or false - Those fraudulent e-mails requesting my banking information are pretty easy to spot as scams since they all have a number of spelling mistakes and don't look very professional.

Question #2: True or false - If I'm a victim of debit card fraud where someone skims my bank card information, steals my PIN and uses them to withdraw money from my account, my bank will reimburse me.

Question #3: True or false - Shredding documents like my bank statements, credit cards bills, and insurance forms is one way to protect against identity theft.

Question #4: True or false - I don't have to worry about "vishing" because I have the call display feature on my phone.

Question #5: True or false - If someone asks you to cash a cheque for them in exchange for a fee, this is a good business opportunity that you should consider accepting.

Click here to see how you scored.

For extra credit, consider taking the CBA's Security and Privacy Quiz as well.

For more fraud prevention tips, or to download the CBA's free booklet, Safeguarding Your Money, visit the Fraud and Security section of the Canadian Bankers Association website. Booklets are also available by mail by calling 1-800-263-0231.

Answers to Pop Quiz

Question #1: False. That may be true of some "phishing" e-mails, but not all. Phishing e-mails look like they are from a legitimate organization, such as a bank, credit card provider, retailer or government agency, but are actually sent but criminals to "phish" for victims by tricking you into revealing personal information. Some e-mails are quite sophisticated and can look very real. There are still a number of ways to spot this scam however, including:

• No personalization. E-mails from legitimate companies are usually personalized, such as "Dear Mr. Smith" or "Dear Jane".
• It sounds alarming. Phishing e-mails will have a sense of urgency, such as "you must reconfirm your information or your account will be closed in 24 hours."
• It asks for personal information. This is the number one tell-tale sign of a phishing e-mail. No legitimate company would contact you by e-mail to ask you to reconfirm any of your personal information for security purposes or any other reason. They already have it.

Question #2: True. When using your debit card, you are protected by the Canadian Code of Practice for Consumer Debit Card Services, which guarantees that, if you are a proven victim of debit card fraud, you will get your money back from your financial institution. Still, there are precautions you can take to protect against becoming a victim in the first place:

• Protecting your personal identification number (PIN) remains the best way to protect yourself from debit card fraud. In most skimming incidents, the criminals may have skimmed your bank card information, but they still need your PIN which they typically capture by using a hidden camera. Shielding your hand when you enter your PIN means that your card information is useless to the criminal.
• If anything seems unusual about the ABM or point of sale terminal, don't use it; report the situation to police or your financial institution.
• Don't reveal your PIN to anyone, don't write it down and be sure to review your monthly bank statements and report any discrepancies to your financial institution immediately.

Question #3: True. An identity thief will pick through your garbage or recycling bins to look for discarded receipts, bank or credit card statements or other documents containing personal information. You should consider purchasing a shredder to dispose of personal documents.

Surprisingly, identity theft is not a defined criminal offence under Canada's Criminal Code. Banks in Canada have been leading an effort, along with other partners, to urge the government to make changes to the Code that would make identity theft a defined offence. We are also calling for changes to make it illegal to possess multiple pieces of identification for a number of individuals and to traffic in stolen personal information, and we believe that identification documents issued by the provincial and federal governments should be significantly improved in terms of quality and security. There are a few other ways you can protect yourself:

• Paying attention to your billing cycles - if your bills don't arrive on time, follow up with the business to find out why.
• Traveling light - only carry the documents and cards you'll need with you when you leave the house. You should ever carry your SIN card or birth certificate unless you will be using it.

Question #4: False. With Voice over Internet Protocol (VoIP) and other Internet-based telephone technology, criminals can now make calls inexpensively and can mask their identity and their location and even make it look like they are calling from a legitimate company on your call display.

Vishing stands for "voice phishing" and is a new twist on the phishing e-mails that you may have received, but now the criminals are using the phone as well to trick consumers into revealing personal information.

We all get e-mails and telephone calls from legitimate companies and organizations that we do business with, but here are some things you should keep in mind as you try to figure out if you're being contacted by the legitimate company or by a visher.

• If you are dealing with a legitimate company, they know who they are contacting and will address you by name in an e-mail or telephone call. Vishers don't typically know who you are and don't usually use your name.
• In some cases, your bank may contact you by phone or leave you a voicemail message if they suspect fraudulent activity. As part of a legitimate conversation with your bank, you may be asked verification questions so the bank can ensure that they are speaking to the right person. You will not, however, be asked to verbally provide any PIN or banking password or enter you PIN or password on your telephone keypad. As part of the verification process, your bank will never ask you for your Social Insurance Number.

Question #5: False. Advanced fee scams and overpayment scams are among the most common scams around. Typically you will receive a letter, e-mail, or fax requesting help with an "urgent business transaction", usually involving the transfer of millions of dollars out of a foreign country through your bank account. The sender promises that as a reward for your help, you'll receive an "advanced fee." Once they have your account and other personal information, however, they can use this to commit financial fraud. If you received such an e-mail or letter, delete it or destroy it. A good rule of thumb is: if it sounds too good to be true, it probably is.

In an overpayment scam, criminals will comb the newspaper classified ads or the Internet looking for victims who are selling something or possibly renting property. They will contact you, agree to buy what you are selling or rent the property. They will then send a cheque or money order for an amount that is higher than the agreed-upon price and ask that you send the difference to them. The victim will then find that the cheque or money order is fraudulent and they are not only out that amount, but also the amount sent back to the criminal. Never accept payment for anything for more than the agreed-upon price and ensure that the cheque or money order has cleared before shipping any goods. You are responsible for anything deposited to your account.

Canada's banks take the issue of privacy, security and fraud prevention very seriously. They work hard to prevent their operations and customers from being used for any kind of financial crime and to raise awareness about the ways that customers can protect themselves.

As a consumer, you also have an important role to play in preventing fraud. This month we'll test your knowledge of frauds and scams.