Fraud Prevention

Fraud Alert: Intercepted e-Transfer

What is an Intercepted e-Transfer?

This occurs when a legitimate customer sends an e-Transfer to someone they know. Criminals seize the opportunity to deposit the funds to a mule account before the intended recipient has the chance.  The interception is not caused by a vulnerability in MemberDirect online banking 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 help protect yourself:  

  • 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.  If the notification is intercepted, it will be harder for a criminal to answer and steal the funds. 
  • Be cautious not to click on any phishing links and ensure that they are only transacting with trusted websites, vendors and people.
  • Register for Interac e-Transfer Autodeposit. This will make sending money on the e-Transfer service more secure. This new Interac feature is now available for Community Savings members.

Immediately notify CSCU at 604-654-2000 if you sense anything suspicious about your transaction.  

Additional ways to be Fraud Smart

Identity theft and financial scams are among the fastest growing crimes in North America. It can happen to anyone and It doesn’t take much to lose everything. Criminals have become more sophisticated in their attempts to defraud Canadians. To protect yourself you need to be aware as well as proactive.

Take these steps to protect yourself.

  • Do not click on any links or reply to messages requesting personal information. Never reveal sensitive personal information by email or text message
  • Check your account activity regularly. Contact us right away if you notice anything unusual or suspicious.
  • Change your PIN regularly
  • Shield your PIN from view
  • Shred sensitive documents
  • Receive your monthly statement electronically in Online Banking
  • Report lost or missing cards immediately
Our member’s security is paramount and our team is dedicated to continuously upgrading our safeguards, policies and systems.
If you are the target or victim of an identity theft or fraud attempt, don't panic, we can help.  Contact Community Savings Credit Union immediately at 604-654-2000 or toll free: 1-888-963-2000