Staying informed and vigilant online is crucial in today’s digital age to protect one’s finances.
Victoria Police recently issued a warning urging residents to exercise caution when buying or selling items online after a series of fraud cases involving e-transfers were reported.
The scams typically start when a buyer expresses interest in purchasing an item from a seller. The buyer proceeds to send a link that appears to be a payment via e-transfer.
Once the seller clicks the link, spyware is activated. The buyer now has access to the seller’s financial accounts and personal information, allowing them to redirect money into their own accounts.
To avoid falling victim, police recommend the following precautions:
- Verify identities: Ensure you are dealing with a legitimate buyer or sellers
- Use secure platforms: Conduct transactions through trusted and secure payment systems.
- Avoid unfamiliar links: Refrain from clicking on links sent by buyers or sellers.
- Rely on banking apps: Use official banking apps for all financial transactions.
- Enable two-factor authentication: Add this extra security layer to your bank accounts.
- Set up auto-deposit: Accept payments without clicking on links.
- Watch for red flags: Be wary of urgent payment requests or demands for immediate action.
The Canadian Anti-Fraud Centre processed 40,623 cases in 2024, with over 28,634 individuals falling victim to scams, resulting in a total loss of $503 million.
If you suspect suspicious activity, contact your bank immediately. For monetary losses, report the incident to the police via the E-Comm Report Desk at 250-995-7654. Fraud victims can also file a report with the Canadian Anti-Fraud Centre.
