e-Transfer interception fraud is a growing trend. By using stolen personal information and guessing security answers correctly, fraudsters can redirect and deposit Interac e-Transfer transactions to their accounts. Protect your accounts by understanding your responsibilities as a sender and recipient.
What you need to know
Don't enter personal information on websites linked from suspicious emails or texts. Look for signs, such as spelling mistakes or lack of personalization.
As a sender, make your security question and answer unique and difficult to guess. Only share security answers over a secure channel.
As a recipient, register for Autodeposit and make difficult and unique passwords for your accounts.
Interac e-Transfer interception occurs when a fraudster redirects a real money transfer to their account and deposits your money. Interception can happen when your email has been hacked.
Fraudsters can get your personal and account information by sending texts or emails that appear to be from legitimate sources. Selecting the links and inputting your personal information such as usernames, PINs and passwords can expose your email to scammers or make you susceptible to malware.
Once fraudsters have access to your email account, they’re able to see the notifications and links for your Interace-Transfer transactions. Fraudsters can either guess the correct security answer, use previous answers or check for emails containing the security question and answer to redirect the funds into their accounts.
Tips to stay safe when using Interace-Transfer
As a sender:
Only share the answer to your security question with the recipient over a secure method of communication, such as over the phone. Don’t share the answer via email, text or on social media.
Create a unique security question that only you and the recipient will know. Use a variety of characters (including upper and lower case letters, numbers and symbols) to strengthen your answer.
Don’t include the answer in your security question.
Don’t reuse the same security question and answer for multiple recipients.
If you've been affected by fraud and have done everything in your power to keep your accounts safe, we'll help you get your money back. To learn more about the security guidelines for your accounts, review our Online Security Guarantee.
Notice anything suspicious? Let us know.
Contact us right away if you received a suspicious email or notice any unauthorized activity on your account.