During Fraud Prevention Month in Canada, Connexus Credit Union is highlighting scammers who are victimizing people in online marketplaces. Chief Risk and Compliance Officer, Mark Millham, says Connexus has observed that online frauds are increasing as are scams where the victim is asked to use e-transfer.

He explains that the scammer will contact someone who is selling something online and say they are interested, and will suggest an e-transfer, but rather than adding the seller to their e-transfer list through their bank, and paying by legitimate e-transfer, they will instead send a link to the seller, who is supposed to click on the link and submit their banking information. He advises not to do either.
Instead, set up auto deposit and then all e-transfers will go automatically into your designated account. “And that way you know if you receive an email or a communication from a fraudulent e-transfer asking you to confirm or accept an e-transfer, you know it’s probably the fraudster doing that instead of a legitimate transaction.”

Another tip is to set up security alerts through your account, which could include alerts if over a certain amount is taken out, or if a new contact has been added to your e-transfer list. More recently, Millham says, fraudsters are sending fake e-transfers through social media messaging platforms. He advises that a legitimate e-transfer never occur on those platforms.

Millham summarizes that to buy and sell safely online, safeguard your banking credentials, set up real-time banking alerts and by hypervigilant. Prompts for e-transfers never come through direct messaging through social media platforms.
RCMP Fraud Prevention Month tips: https://www.rcmp-grc.gc.ca/en/news/2025/march-is-fraud-prevention-month-learn-common-scams
Government of Canada: https://competition-bureau.canada.ca/en/fraud-and-scams/fraud-prevention-month