Tips to Protect Yourself from Intercepted e-Transfers

Tips to Protect Yourself from Intercepted e-Transfers

There has been a recent increase in “intercepted e-Transfers”.

An intercepted e-Transfer can happen when you send an e-Transfer to someone you know. Criminals then deposit the funds to a mule account before the intended recipient has the chance. The interception is not caused by a vulnerability in MemberDirect or the Interac e-Transfer product, but rather because the recipient’s email account was accessed by a criminal. Once in that account, criminals can “see” the notification from Interac and use the deposit link to redirect funds into a different account by answering the security question.

Here are some tips to protect yourself:

  • Do not communicate the answer to the security question via email. Call and/or text the recipient with the password.
  • Select a question and answer that is not easy for a third party to guess.
  • Be careful not to click on any phishing links.
  • If you do suspect that something seems suspicious about the transaction, contact us immediatly.
  • Register for AutoDeposit as this feature is a more secure way to conduct e-Transfers.