Did you know?

In 2018, approximately 371 million Interac e-Transfer transactions worth more than $132 billion were made in Canada.1


Interac e-Transfer interception fraud

e-Transfer interception fraud occurs when money is being sent via Interac e-Transfer from one bank account to another using an email address or phone number. Fraudsters will intercept the online transaction and divert the money to a different bank account.


How to protect yourself

Fraudsters are able to intercept e-Transfers by gaining access to the recipient’s email account and guessing or getting the security question answer. Whether you’re the sender or recipient of an e-Transfer, everyone is responsible for playing their part in preventing fraud.

What you should and shouldn’t do as the sender

Don’t:

  • Include the answer in your security question
  • Share the answer to your security question via email, text or on social media
  • Reuse the same security question and answer for multiple recipients

Do:

  • Create a unique security question that only you and the recipient will know
  • Only share the answer to your security question with the recipient over a secure method of communication, such as over the phone

   

What you should and shouldn’t do as the recipient

Don't:

  • Create weak account passwords that anyone can easily guess
  • Share your passwords with anyone or use the same password for all your accounts
  • Suggest multiple senders use the same security question and answer

Do:

  • Register for Interac e-Transfer Autodeposit to have money automatically deposited without answering a security question
  • Create strong and unique passwords to protect your accounts, including your email and social media accounts