Intercepted Interac e-Transfers®

Over the last six months, the industry has continued to see intercepted e-Transfer attacks along with media coverage focusing on the victims of these attacks. These attacks are not a result of any flaw with MemberDirect®, Forge or Interac. This type of fraud is the result of a recipient's email being hacked and the criminal using that email to redirect legitimate incoming e-Transfers.

Here are a few tips to help prevent intercepted e-Transfer attacks:

• Register for auto deposit. Having funds automatically deposited into your account removes the risk of a criminal intercepting the deposit email. Click here for information on auto deposit https://www.reddyk.net/Home/ProductsAndServices/YourMoney/ElectronicServices/EmailMoneyTransfers/

• Select questions and answers that are not easy for a third party to guess and cannot easily be found on social media. If the notification is intercepted, it will be harder for a criminal to answer and steal the funds.

• Do not put the answer to the security question in the message box.

• 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 transaction.

 

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