In Alberta, online marketplaces like Kijiji and Facebook have become essential platforms for buying and selling everything from furniture to vehicles. They’re convenient, local and cost-effective. But as these platforms have grown, so has the sophistication of scammers looking to exploit unsuspecting users.

These scams typically involve a buyer sending you what appears to be an e-transfer email or text message that needs to be clicked on for the funds to be deposited. Once you click on it, the fraudulent link takes you to a fake website that prompts you to input your online banking credentials and one-time passcode, which the scammer then uses to access your real bank account.

The marketplace scammers playbook

Marketplace scams often rely on three key tactics:

1. Fake e-transfer notifications: Scammers send a text or email that looks like an official notification, prompting you to click a link to accept or deposit an e-transfer. These links then redirect you to a counterfeit website designed to steal your banking credentials.
2. False payment promises: A scammer might claim they’ve sent you an e-transfer that won’t release funds until you ship the item or pay a refundable fee.
3. Claiming Autodeposit is not working: Watch out for when scammers say they are having problems with their Autodeposit and that is why an email or text notification is being sent to you.  If you have Autodeposit set up on your account, the e-transfer will always go directly into your account regardless of if the sender has Autodeposit set up or not.

Outsmarting marketplace scammers

Online marketplaces are a great way to buy and sell within your community, but they also require caution. Follow these tips, to stay safe while buying and selling.

• Verify the e-transfer link: Never click on an e-transfer link unless you’re certain it’s legitimate. A genuine Interac e-transfer will come directly from “notify@payments.interac.ca”. When clicking a button in a verified email, hover over the link to ensure the URL begins with exactly “https://etransfer.interac.ca/”. If the URL isn’t exactly right or contains strange text, punctuation or symbols, do not enter any information. You can sign into your mobile or online banking and click Move Money > Interac E-Transfer > View History to see if you have any pending e-transfers under Received.  If you don't, then it’s likely a scam.
• Understand how e-transfers work: Money sent via e-transfer is either deposited immediately using Autodeposit or requires you to answer a security question. There’s no such thing as a “pending payment” requiring you to pay additional fees or perform extra steps.
• Use cash or meet in person: When possible, meet the buyer or seller in person and complete transactions using cash. If e-transfer is your only option, confirm the details with the other party in person before sending or accepting money.
• Avoid deals that seem too good to be true: If a deal seems suspiciously cheap or a seller/buyer is unusually eager to complete the transaction, trust your instincts and walk away.
• Protect your credentials: Never share your login details, passwords or one-time passcode with anyone.
• Report suspicious activity: If you encounter a scam or think you’ve been targeted, report it to ATB, your local police and the platform you’re using. Reporting scams helps protect others in your community.

The best way to avoid this scam is to set up INTERAC e-Transfer® Autodeposit. With Autodeposit, your account is linked to your email address, so funds sent by Interac e-Transfer will be automatically deposited. No emails or text messages required.

For more information on how you can play your part in this team effort against fraud, visit our Online Banking Security Guarantee and Banking and fraud prevention pages. You’ll find comprehensive details and helpful resources to further your understanding and enhance your online banking security.