Beware of scammers on online marketplaces such as Kijiji or Facebook. There has been an increase in scams where a buyer pays remotely via e-transfer without meeting the seller or seeing the item. However, the e-transfer is fraudulent, and the seller ends up paying the buyer instead.

In some cases, the buyer will send a debit request, in hopes that the seller will try to ‘deposit’ it. Instead, the seller discovers afterwards that the funds have been withdrawn from their own account.

In other cases, the scammer will send a phishing link. This e-mail will look like an e-transfer, but it redirects you to a fraudulent website where you will be prompted for your member number and personal access code. If you provide this information, then the scammer will login as you and initiate an outgoing e-transfer from your own account. During this process, they will also ask you to provide a two-factor authentication number, either directly or via the phishing site.

The best way to avoid e-transfer scams is to set up the auto-deposit service. When you have auto-deposit enabled, any e-transfer sent to your e-mail address will be deposited to your account automatically, with no risk of phishing via e-mail.

Other tips to avoid online marketplace scams:

• Never pay upfront for an item that you have not seen in person
• Never pay a deposit to ‘hold’ an item
• Never accept ‘too much’ money for a product you are selling
• Watch out for deals that are too good to be true
• Wherever possible, pay or accept payment at the time of pickup, after you have inspected the item

Let’s work together to prevent fraud

Coastal Community works around the clock to safeguard your accounts. Learning how to recognize fraud is the first step to protecting yourself.