How to protect yourself from e-Transfer interception.

E-transfer interception can occur when a fraudster gains unauthorized access to an e-transfer recipient’s email account or phone number. By gaining this access, the fraudster can use the deposit link to redirect funds into a different account, if they are able to answer the security question.

Register for Autodeposit

Autodeposit will allow you to have money automatically deposited without answering a security question. This makes it more difficult for fraudsters to intercept the transfer.

Secure Your Questions

Choose a security question with an answer that is difficult to guess or discover. Communicate the answer to the recipient in-person or by phone call. Never share your security answer through email, text or social media. Also, do not include it in the e-transfer message area.

Beware of Unexpected Transfers

If you receive a deposit notification that you were not expecting, contact the sender through a different channel to confirm the transfer is real. Do not click on any links in e-Transfer notifications from a sender you don’t recognize.

Be Careful with Social Media

Always be careful what information you share on social media. Fraudsters visit social media pages to find relevant information about you.

Source: CUMIS | Risk Solutions Group