E-Transfer Scams in Canada: How to Spot and Report Them
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E-transfer scams are among the most common ways fraudsters take money from Canadians, because an Interac e-Transfer® moves money in minutes and is hard to claw back once a fraudster deposits it. This guide explains the scams that show up most often, the warning signs, what to do in the first hour, and what your bank is (and is not) required to reimburse. For more on accounts, fees, and security, see our banking guides.
The numbers are large. According to the Canadian Anti-Fraud Centre (CAFC), Canadians filed more than 112,000 fraud reports in 2025, with more than $704 million in reported losses (figures published February 25, 2026). Many victims never report, so the real total is higher.
Why e-transfer scams work so well
An e-Transfer is fast, cheap, and familiar. Those same qualities make it attractive to fraudsters. Money can leave your account and land in an account controlled by a scammer within minutes.
The legal position also matters. The federal government states in the Canada Gazette (June 27, 2026) that banks may hold consumers liable for transfers they authorized after being deceived or coerced. In other words, if you pressed "send" because someone tricked you, your bank is not automatically on the hook.
If you use e-Transfers every week, our guide to using Interac e-Transfer in Canada covers limits and Autodeposit set-up.
The most common e-transfer scams
Most banking scams follow a short script. Someone creates urgency, then pushes you to send money, share a code, or click a link. Here are the six patterns that come up most often.
Phishing and fake deposit notices
You receive an email or text that looks like an e-Transfer notification. The link leads to a fake bank login page. Once you type your username and password, the fraudster can log in and empty your account. The CAFC notes that fraudsters send fake "etransfer" messages to steal banking credentials, and Interac says it will never ask for your banking password by email or text.
Fake refunds and overpayments
A buyer "accidentally" sends too much and asks you to return the difference. In another version, a caller claims a refund was processed twice. The original payment turns out to be fake or reversed, while the money you sent back is real. The CAFC merchandise page describes this overpayment tactic.
Online purchases and rentals
A seller on a marketplace asks for an e-Transfer deposit for an item that does not exist. Rental scams work the same way: a below-market apartment, photos copied from a real listing, and pressure to pay quickly to "secure" the unit. The price is the tell. If it looks too good to be true, it usually is.
Bank or police impersonation
A caller claims to be your bank's fraud department, the police, or a credit bureau. Call display can be spoofed, so the number may look right. The caller asks you to move money to a "safe account," read back a verification code, or hand your card to a courier. According to the CAFC bank investigator page, real institutions never ask you to transfer funds to an external account for security reasons.
Romance and relationship scams
Someone you met online builds trust over weeks or months, then asks for money for travel, a medical emergency, or an "investment." Relationship scams caused $63.3 million in reported losses in 2025, according to the CAFC. A person who always has a reason not to meet in person is the classic red flag.
E-transfer interception
Here the fraudster targets the person receiving the money. If a criminal controls the recipient's email, they can see the deposit link and guess or find the security answer. CIBC explains that fraudsters may redirect a legitimate e-Transfer this way. Autodeposit removes the security question, which closes that gap.
What the 2025 fraud numbers show
Phishing and personal-information frauds generate many reports but no direct dollar loss in CAFC data, because the theft happens later. The table below groups the CAFC categories closest to e-transfer and banking scams.
| Fraud type (CAFC category) | Reports | Victims | Reported losses |
|---|---|---|---|
| Phishing | 2,869 | 467 | Not tracked |
| Spear phishing | 813 | 571 | $67.9 million |
| Relationship (romance) | 1,093 | 933 | $63.3 million |
| Fraud investigator (bank or police impersonation) | 2,167 | 1,137 | $28.3 million |
| Service (including tech support) | 3,393 | 2,444 | $19.5 million |
| Merchandise (online purchases, rentals) | 2,596 | 2,222 | $11.7 million |
Red flags to watch for
The script changes, but the warning signs stay the same. Treat any of the following as a reason to stop and verify.
- Urgency or threats: you must act now, or your account will be frozen, or you will be arrested.
- A request to move money for your own protection: no bank asks you to transfer funds to a "safe account."
- A request for a one-time code or password: these give full access to your account.
- An unexpected deposit link: an e-Transfer notice you were not expecting, or one that asks you to log in through a link.
- Overpayment: a buyer pays more than the price and asks you to send back the difference.
- A deal far below market: a rental or item priced well under similar listings, with pressure to pay a deposit first.
- Someone you have never met asking for money: especially after weeks of online contact and excuses not to meet.
What to do if you sent money to a scammer
Speed matters more than anything else. A transfer that has not been deposited can sometimes still be stopped, and your bank can act on the receiving account faster if you call early. The CAFC victim checklist sets out these steps:
- Gather the evidence. Keep emails, texts, screenshots, receipts, and the transfer confirmation number.
- Call your financial institution. Report the fraud to the institution that sent the money. Use the number on the back of your card, not one from a message.
- File a police report. Contact your local police and ask for a file number.
- Report to the CAFC. Report online at reportcyberandfraud.canada.ca or call 1-888-495-8501 (Monday to Friday, 10 a.m. to 4:45 p.m. Eastern).
- Protect your identity. If you shared personal details, change your passwords, ask for flags on your accounts, and contact Equifax and TransUnion.
Once your credit file is flagged, keep an eye on it. Our guide on how to check your credit score in Canada explains how to pull your report for free.
Will your bank reimburse you?
The short answer: it depends on whether you authorized the payment and on your bank's own policy. No federal rule currently requires banks to refund victims of authorized push-payment scams.
Here is what the federal government describes as the current framework (Canada Gazette, June 27, 2026):
- Credit cards: your liability for unauthorized use is capped at $50, unless you were grossly negligent. In practice, major issuers offer zero liability.
- Debit cards: under the voluntary Canadian Code of Practice for Consumer Debit Card Services, most banks agree not to hold you liable for losses beyond your control, including debit payments you were coerced into by trickery, force, or intimidation.
- E-Transfers and wires: banks may hold consumers liable for unauthorized e-Transfers made by a fraudster who accessed the account, and for transfers the consumer authorized after deception or coercion.
Each bank still sets its own reimbursement policy. CIBC, for example, says it will help you get your money back if you were affected by fraud and met your responsibilities to keep your accounts safe. Read your account agreement for the exact wording.
If your bank refuses, file a formal complaint with the bank first. If that does not resolve it, you can escalate to the Ombudsman for Banking Services and Investments (OBSI), the external complaints body for banks. Our credit card fraud and security guide covers chargebacks and card disputes in more detail.
How to protect your accounts
A few settings and habits block most of these scams before they start.
- Turn on Autodeposit: incoming e-Transfers land in your account with no security question to intercept.
- Check the legal name: when a recipient uses Autodeposit, your bank shows their full legal name before you confirm. Stop if it does not match.
- Share security answers by phone: never put the answer in the transfer message, an email, or a text.
- Never share one-time codes: a code sent by text or email is the key to your account, whoever asks for it.
- Call back on a known number: hang up and dial the number on the back of your card, ideally from another phone.
- Lower your limits: if you rarely send large amounts, ask your bank for a lower daily e-Transfer limit.
- Secure your email: use a unique password and multi-factor authentication, since interception usually starts in your inbox.
A separate emergency fund also limits the damage if your chequing account is frozen during an investigation. Our emergency fund calculator helps you size it.
Conclusion
E-transfer scams rely on speed and pressure, not on technical skill. Slow down, verify any request through a number you already trust, and never share a one-time code. If money does leave your account, call your bank right away, then report to the police and the CAFC.
Reimbursement is not guaranteed today, so prevention is your best protection. Turn on Autodeposit, lower your transfer limits if you rarely use them, and review your bank's fraud policy before you need it.
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Frequently asked questions about e-transfer scams
Can I cancel an e-Transfer I sent to a scammer?
You may be able to cancel an e-Transfer while it is still pending, meaning the recipient has not deposited it yet. Once a fraudster deposits it, you cannot cancel it yourself, and recovery depends on your bank acting on the receiving account. Call your bank immediately, then report to the police and the CAFC. Our guide to using Interac e-Transfer explains how pending transfers work.
Will my bank refund money I lost to an e-transfer scam?
There is no federal rule requiring a refund when you authorized the transfer, even if you were tricked. The federal government confirmed in June 2026 that banks may hold customers liable in that case. Some banks reimburse when you met your security obligations, so ask for a written decision. If you disagree, complain to the bank first, then to OBSI. See our banking guides for account agreements and fees.
How do I report an e-transfer scam in Canada?
Call your financial institution first, then file a report with your local police and get a file number. Next, report the fraud to the Canadian Anti-Fraud Centre online at reportcyberandfraud.canada.ca or by phone at 1-888-495-8501. If you shared personal information, contact Equifax and TransUnion. Our guide on checking your credit score shows how to monitor your file afterwards.
Does Autodeposit protect me from e-transfer fraud?
Autodeposit sends incoming e-Transfers straight to your account with no security question. That blocks interception, where a fraudster with access to your email answers the question and redirects the money. It does not protect you if you send money to a scammer yourself. When a recipient uses Autodeposit, your bank shows their full legal name before you confirm, which helps you spot a mismatch.
What is the bank investigator scam?
A caller pretends to be your bank, the police, or a credit bureau and says your account is compromised. They then ask you to move money to a "safe account," share a verification code, or hand your card to a courier. Real banks never do any of this. Hang up and call the number on the back of your card. Our credit card fraud guide covers similar card scams.
Are scam rules changing for Canadian banks?
Yes. Bank Act amendments enacted through the Budget Implementation Act, 2025, No. 1 will, once in force, require banks to have fraud policies and let you adjust your maximum transaction amounts. Proposed regulations published June 27, 2026 would require your express consent before features like e-Transfers are enabled, let you disable them, and make banks report fraud data to FCAC. The proposed in-force date is July 1, 2027. None of this creates an automatic refund right.
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