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Prevent Intercepted Interac e-Transfer® Fraud Update

Jan 16. 20

What are Intercepted e-Transfers?

 

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.

 

How does this type of Fraud occur?

An email account compromise occurs when someone other than the intended user steals credentials to access an email account; for example: email address and password. The hacker uses those credentials to sign in as the original user and can access emails, including Interac e-Transfer notifications.

 

The interception is not caused by a vulnerability in 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, the criminal can “see” the notification from Interac and use the deposit link to redirect funds into a different account by answering the security question.

 

Tips to help prevent Intercepted e-Transfer attacks. 

  • Register for auto deposit (if enabled for your financial institution). Having funds automatically deposited into your account removes the risk of a criminal intercepting the deposit email.
  • 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. 
  • Do not communicated the answer to the security questions via email.  Call and/or text the recipient with the password.
  • 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

Current Trends*

• There is an increase in email account compromises where Interac e-Transfer email notifications are being accessed by a third party and not the intended recipient or legitimate email account holder.
• The third party uses the link provided in the email notification to access the gateway and deposit the funds.
• Many of the email account compromises involve telecom domains (telus.net, shaw.ca), indicating a potential phishing campaign affecting these domains.  
            o Telus recently released a statement regarding increased phishing campaigns targeting their customers https://www.telus.com/en/bc/support/article/telus-net-billing-information-spoofing- campaign

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Covid-19 Updates

  • Covid-19 Updates

    Bulkley Valley Credit Union is HERE FOR YOU during these difficult times, which includes keeping you up to date with the measures we are taking to protect our staff, members, clients, and community from COVID-19.

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