Article
e‑Transfers are a fast, convenient way to send and receive money. A few simple habits can go a long way towards keeping that money where it belongs and out of fraudsters’ hands.
When it comes to e‑Transfer scams, fraudsters often rely on surprise, pressure, or by pretending to be someone you trust. But when you know what to look for, their tactics become much easier to spot.
Red flags
- Urgency or pressure: If someone says you need to act right now, that’s usually a sign to slow down
- Requests for sensitive information: You never need to share banking details to receive an e‑Transfer
- Suspicious sender email address: Look for spelling errors, odd punctuation, or unrelated domains
- Generic greeting: If the message doesn’t use your name, be cautious
- Overpayments: Overpayments, "bonus" money, or surprise transfers are a common scam tactic
How to protect yourself if you’re sending money
- Treat e‑Transfers like cash: Double‑check the recipient’s email or phone number before sending
- Use strong, unique security questions: Avoid answers that can be guessed or found online
- Share security answers safely: Never include the answer in the transfer message. Use a different channel, ideally a phone call or in‑person conversation
- Verify identities: If someone claims to be a friend, landlord, or your bank, confirm through a separate, trusted method
- Be careful with new recipients: A single typo can send your money to the wrong person
How to protect yourself if you’re receiving money
- Keep your email secure: Use a strong password and multi‑factor authentication. If your email is compromised, your e‑Transfers could be too
- Only accept transfers you expect: If money shows up unexpectedly, don’t touch it. Fraudsters want you to act quickly and not think critically. Verify using trusted contact information, not contact information in the message
- Avoid public Wi‑Fi: Public networks are less secure and can expose your personal and financial information
- Use Auto Deposit: It sends money straight to your account, reducing the chance of interception
A simple rule to remember: Stop. Check. Talk.
Before you act on any requests involving money or personal information:
Staying alert and taking a moment to double check can prevent most e‑Transfer fraud attempts.
- Stop: Pause before acting
- Check: Look closely at the details
- Talk: Speak to someone you trust if anything seems suspicious