What to do if your Wealthsimple account is compromised

In this article:

Overview
Recognize the signs of a compromised account
What to do if your account has been compromised

Overview

If you suspect that your Wealthsimple account has been accessed without your permission, it's crucial to take immediate steps to secure your account and prevent further unauthorized activity. This article outlines the signs of a compromised account and the actions you should take to protect your information.

Contact Wealthsimple immediately

If you believe your Wealthsimple account has been compromised, contact our support team right away:

During business hours (Monday – Friday, 9 a.m. – 6 p.m. ET):

Call 1-855-255-9038 to reach our Client Success team.

Outside business hours (including weekends):

Call 1-844-221-5492 to reach our after-hours Risk Protection Support team.

For the most secure verification process, we recommend contacting us by phone. Our team will temporarily disable your account and escalate it to our security team for further investigation.

Recognize the signs of a compromised account

Be alert for these common signs that your account may have been compromised:

You receive login notifications that you did not initiate.
You notice login events from unfamiliar devices or locations.
You can't log in to your account with your usual credentials.
You aren't receiving emails from Wealthsimple (this might indicate that an unauthorized person has accessed your email account and muted Wealthsimple emails).
You see unauthorized transactions on your bank statement.

What to do if your account has been compromised

Take these additional steps to protect your personal accounts and information:

Protect your email account

Your email address is used to access your Wealthsimple account, so securing it is essential to prevent further unauthorized transactions.

If you can log in to your email account: Update your password and two-step verification (2FA) settings.
If you can't log in to your email account: Contact your email provider immediately to update your password or disable your account.

Protect your bank account

Update your login credentials and 2FA for all bank accounts linked to your Wealthsimple profile. If you suspect your bank account has been compromised and notice unauthorized transactions, contact your bank immediately.

Protect your identity

If someone gains access to your Wealthsimple account, they may be able to see personal information such as your legal name, Social Insurance Number (SIN), address, email, phone number, and portfolio holdings.

If you believe your identity has been compromised, immediately file a police report with your local police. The authorities can provide you with a case number and collaborate with financial institutions to gather more information.

Below are some additional resources to help protect your identity:

Recovering your account

After our security team completes its investigation, a member of our team will contact you with the next steps to recover your Wealthsimple account. Once you regain access, please update your password and 2FA method.

Tip: Two-step verification (sometimes MFA) protects your Wealthsimple account by requiring a unique, time-sensitive verification code each time you log in on a new device. It’s a layer of protection against bad actors and cybercriminals — by requiring a unique, time-sensitive verification code when you log in, we know it’s you. We support verification codes through an authenticator app, text message, and automated phone call. Learn more about managing your two-step verification settings.