Privacy experts slam National Bank asking customers for their PIN at other banks | General financial discussion | Discussion forum

Hopefully no one is imbecilic enough to give any bank this PIN info!

I know though of people who have fallen for similar requests on some social networking sites. These ask you for your email password, which they then use to troll through all your contacts, and for those not already using the social network site, they send them an invitation, in YOUR NAME, to join the site. I have been the recipient of such invitations to join, nominally from people I maybe once had an email exchange with, who fell victim to this 'scam'.

rhvic said
Hopefully no one is imbecilic enough to give any bank this PIN info!

I know though of people who have fallen for similar requests on some social networking sites. These ask you for your email password, which they then use to troll through all your contacts, and for those not already using the social network site, they send them an invitation, in YOUR NAME, to join the site. I have been the recipient of such invitations to join, nominally from people I maybe once had an email exchange with, who fell victim to this 'scam'.  

NOT a good idea no matter how good the sell job is. Publication of PIN number equals more people have the opportunity to be dishonest and so many more systems can be hacked to be able to have access to accounts and pins.

Let’s get on to more 2 factor.

This reminds me of the many occasions in the past when we would be asked for our SIN numbers, which were no business of the company asking for them.
The federal government has largely discouraged this practice, repeatedly reminding us that this number is only to be used where CRA is involved, and has been largely successful.

"Fake news", Bill? Certainly not. I said nothing about financial institutions. Please read more carefully before flying off the handle.

Financial institutions can ask for SINs precisely because they report income to CRA. All the permitted uses listed in your link have to do with CRA.

There's a good list there though of places where you are NOT required to give it out. The government does indeed discourage that, as I said.

Bill said
"The federal government has largely discouraged this practice, repeatedly reminding us that this number is only to be used where CRA is involved.....". Appears to be fake news re SIN.

Here's the truth from the government site, see particularly section on "When to provide your SIN" which mentions financial institutions:
https://www.canada.ca/en/employment-social-development/services/sin/reports/shared-responsibility.html  

You're correct, Loonie, these persons are all required to report to CRA.

I'll clarify. What I meant to clarify to readers here is that you may need to give out your SIN to banks, employers, non-CRA gov't departments, even if you personally have no dealings with CRA, e.g. a student or low-income person who expects to make minimal amounts of interest in a bank account and who does not file a tax return due to lack of any or additional taxes owing still has to provide their SIN to the bank.

And you made a comment about our SIN numbers being "no business of the company asking". The link I provided clarifies for the readers here that sometimes a company is entitled to ask for it.

Your pasted copy of the link I provided doesn't work for me. And rereading my post I did have a good laugh though, Loonie, at your notion of what constitutes flying off the handle.

Loonie, your comment re my "clarifications" is insult/opinion-stated-as-if-it-was-fact. Fake news. But enough laughs, I'm done with this waste of time for all concerned.