Interac - Security

 

Interac e-Transfer
is secure

 

When you send money using Interac e-Transfer, your money never actually travels by email or text message - only notifications and deposit instructions do. Your financial institution and the recipient's financial institution transfer your funds using established and secure banking procedures.  Interac e-Transfer users are protected with multiple layers of security, making the service one of the most secure money transfer services globally:

  • Authentication and transaction encryption
  • Financial institution authentication
  • Proprietary risk management

Interac e-Transfer
is secure


When you send money using Interac e-Transfer, your money never actually travels by email or text message - only notifications and deposit instructions do. Your financial institution and the recipient's financial institution transfer your funds using established and secure banking procedures.  Interac e-Transfer users are protected with multiple layers of security, making the service one of the most secure money transfer services globally:

  • Authentication and transaction encryption
  • Financial institution authentication
  • Proprietary risk management

Always be careful when sending money

We all have a role to play in protecting ourselves. You should send money using Interac e-Transfer only to people you know and trust, the same way you would with cash. An Interac e-Transfer transaction cannot be reversed once a recipient has deposited the funds.

For uses where you may not know the recipient well, like online auctions or resale sites, take the same precautions you would normally take when making cash purchases. Be sure to read any guidelines for protecting yourself as outlined by the operators of each site.

 

 
 

There are security measures in place to protect your Interac e-Transfer transaction:

  1.  

    Encryption technology

     

  2.  

    Confidential user IDs and passwords issued by financial institutions

  3.  

    Secure login process

  4.  

    Secure question and answer to ensure only the intended recipient receives the money

 








Receive an Interac e-Transfer notification you weren't expecting?

Exercise caution. If you receive a notification for an Interac e-Transfer that you weren't expecting, contact the sender through a different communication channel to verify. If the notification comes from someone you don't know, or you suspect it may be fraudulent, do not respond or click any links. Forward the email to phishing@interac.ca

 

Common scams: what to look for

Criminals may use a number of methods to try to trick you into sending them money, including the use of online classified ads to anonymously and falsely advertise the sale of goods and services to unsuspecting victims. For a list of current and ongoing scams, or to file a report If you have been the victim of a scam, visit the Canadian Anti-Fraud Centre.

Canada Revenue Agency (CRA)

The Canada Revenue Agency (CRA) does NOT use the Interac e-Transfer service to collect or disburse payments. If you receive an email stating that the CRA is trying to send you money or verify personal information, do not respond. This is a known phishing scam, created by fraudsters. Please forward the email to phishing@interac.ca so our fraud team can further investigate.

Common scams: what to look for

Criminals may use a number of methods to try to trick you into sending them money, including the use of online classified ads to anonymously and falsely advertise the sale of goods and services to unsuspecting victims.

For a list of current and ongoing scams, or to file a report If you have been the victim of a scam, visit the Canadian Anti-Fraud Centre.

Canada Revenue Agency (CRA)

The Canada Revenue Agency does NOT use the Interac e-Transfer service to collect or disburse payments. If you receive an email stating that the CRA is trying to send you money or verify personal information, do not respond. This is a known phishing scam, created by fraudsters. Please forward the email to phishing@interac.ca so our fraud team can further investigate.

Unsolicited job offers

Our organization does not hire transfer agents or work with Interac e-Transfer “businesses”. There have been instances of employment recruitment scams in which Canadian job hunters are hired as agents for "foreign companies". In fact, the job hunters may actually end up being used as "mules" to transfer stolen funds outside of Canada. Anyone who participates, even unknowingly, could be deemed an accomplice to a crime and may be prosecuted.

In order to appear authentic, fraudsters may present employment agreements, websites and other types of information, for example, a detailed contract, outline of employee job responsibilities, compensation, etc. While these websites and employment agreements may present an appearance of legitimacy, spelling errors or the use of odd wording may be a sign that the operation is not a legitimate one.

Phishing scams

Phishing is a scam where fraudsters attempt to acquire personal and/or financial information, such as passwords, card numbers, etc., by masquerading as a trustworthy person or business through electronic communications. Phishing is typically carried out using email or an instant message, although phone contact has been used as well.

In some instances, the fraudster sends authentic-looking emails or text messages (smishing) that appear to come from legitimate companies, requesting recipients to disclose personal and/or financial information that is later used to commit fraud.

Be suspicious if you receive a notice for an Interac e-Transfer that you were not expecting. If in doubt, contact the sender to confirm that he or she has initiated your transfer.

Fake Transfers

Criminals may attempt to convince you they have sent you money, by sending you an email that appears to be using the Interac e-Transfer service, but isn’t. For example, you may receive an email stating that Interac is holding money in escrow until you provide evidence of having shipped goods. Our organization does not offer an escrow service. Do not assume you will be able to receive money until you can confirm that it is in your bank account.

Fake Transfers

Criminals may attempt to convince you they have sent you money, by sending you an email that appears to be using the Interac e-Transfer service, but isn’t. For example, you may receive an email stating that Interac is holding money in escrow until you provide evidence of having shipped goods. Interac does not offer an escrow service. Do not assume you will be able to receive money until you can confirm that it is in your bank account.

Protect Yourself

Offers of easy money are often too good to be true. A web-based job that requires you to move funds outside Canada could be a front for an illegal operation. While the opportunity may look appealing, you may end up being subject to criminal prosecution for your role in the operation.

Check any employment-related information for unusual phrasing and look for misspelled words. If you are suspicious, check with local law enforcement.

Stay aware by checking the following sources of information about fraud:

Canadian Anti-Fraud Centre

Royal Canadian Mounted Police

Reporting Economic Crime Online

Financial Consumer Agency of Canada

Industry Canada

We're here to help

If you have further questions, contact the help desk.