Protect Yourself from e-Transfer Fraud

Tips for how to send e-transfers securely

As the use of e-transfers becomes more common, the occurance of e-transfer fraud has also increased. E-transfer fraud occurs when the recipient of an e-transfer has their email hacked and the criminal uses the e-transfer notification email to redirect the incoming funds.

The following are tips to help prevent an intercepted e-transfer fraud:

  • Register for e-transfer AutoDeposit. Having funds automatically deposited into your registered account removes the risk of a criminal intercepting the deposit email.
  • When sending an e-transfer, select security questions and answers that are not easy for a third party to guess or cannot easily be found on social media.
  • When sending an e-transfer, do not include the answer to the security question in the message field of the e-transfer.
  • Be cautious of phishing links and ensure that you are only transacting with trusted websites, vendors and people.
  • Immediately notify your financial institution if you sense anything suspicious about your e-transfer transaction.