[Guncho]

https://www.cbc.ca/news/gopublic/etransfers-autodeposit-cancelled-scam-interac-1.6764431

 

[polyslax]

Wow, scary!

manager told her that e-transfers — even to accounts with autodeposit — can sometimes be cancelled, even up to 24 hours later

 

[BlueRocker]

Fake news. Can't be cancelled after the money hits your bank account.

 

[Powdered Toast Man]

Saw that. Seems there's always an angle to exploit for shitty people.

 

[Guncho]

Fake news. Can't be cancelled after the money hits your bank account.

That's not what they are saying. They are saying depending on the sender's bank, it could be cancelled before it hits your bank account even if you have auto deposit

 

[2manyGuitars]

Fake news. Can't be cancelled after the money hits your bank account.

Was going to say the same thing.

Guy sends the etransfer and then shows HIS phone to prove it was sent. She never got a notification or the funds and let him leave with the stuff.

This is on her.

If you pay me by etransfer, you’re not leaving until it hits my account. Period.

 

[BlueRocker]

That's not what they are saying. They are saying depending on the sender's bank, it could be cancelled before it hits your bank account even if you have auto deposit

You'll note I said it can't be cancelled AFTER it hits your bank account. So if you check your transactions and the money went in, it is NEVER coming out until you want it to.

 

[Guncho]

You'll note I said it can't be cancelled AFTER it hits your bank account. So if you check your transactions and the money went in, it is NEVER coming out until you want it to.

I fully agree but that doesn't mean the article is fake news. The article doesn't say it can be cancelled after it hits your account.

 

[Hammertone]

The bank rewarded her stupidity and reimbursed her. Not worth the bad PR, I suppose. But, nonetheless, the morons at the CBC managed to mangle the story.

 

[Okay Player]

Fake news. Can't be cancelled after the money hits your bank account.

A lot of Luddite propaganda seems to surround the use of EMTs

 

[MetalTele79]

Was going to say the same thing.

Guy sends the etransfer and then shows HIS phone to prove it was sent. She never got a notification or the funds and let him leave with the stuff.

This is on her.

If you pay me by etransfer, you’re not leaving until it hits my account. Period.

Yep. The last person who wanted to pay by e-transfer with me needed to hang out for half an hour while we waited for the notification to arrive so I could deposit it.

 

[JivRey]

Fake news. Can't be cancelled after the money hits your bank account.

It's from the Internet so it has to be true

 

[JBFairthorne]

I receive transfers for work all the time. I have a process I go through before sending a customer a “payment received” message. I have auto deposit. So far, I have had ZERO issues.

I get the email saying I’ve received the funds. However, I’ve heard about the fraudulent bogus emails that LOOK like a legitimate EMT email. My next step is opening my banking app and confirm the money has been deposited. THEN I send confirmation.

Is that so fucking hard? People need to stop expecting other people and institutions to protect their personal interests and start taking personal responsibility and action to protect themselves. Stop sucking on the tit and be a grown up.

Another option…demand CASH. I’ve sold items and requested cash specifically prior to the meeting. I explain that I would rather not stand in a parking lot for an hour In the rare event that the transaction is delayed somehow.

 

[2manyGuitars]

Wow, scary!

manager told her that e-transfers — even to accounts with autodeposit — can sometimes be cancelled, even up to 24 hours later

I can send you an etransfer now and cancel it any time in the next 30 days. How scary is that?!?

Oh, forgot to mention…
Once you deposit it, it’s 100% safe.

There’s no danger as long as you make sure the money is in your account. Anyone who lets a stranger drive away before receiving the funds can’t blame anyone but themselves if shit goes sideways.

 

[BlueRocker]

I fully agree but that doesn't mean the article is fake news. The article doesn't say it can be cancelled after it hits your account.

The article, and many people who don't know how these things work but have an opinion nonetheless, has successfully sowed seeds of doubt in the general public on the safety of e-transfers by identifying an edge case involving one unscrupulous and one stupid person. So, for those reasons I dumbed it down and called it "fake news". It's fake news because e-transfers are not insecure if you're not an idiot.

 

[2manyGuitars]

A lot of Luddite propaganda seems to surround the use of EMTs

People need to stop expecting other people and institutions to protect their personal interests and start taking personal responsibility and action to protect themselves. Stop sucking on the tit and be a grown up.

If you click on the article in the first post, there’s also a link to a 2019 CBC article titled “Banks tell dozens of customers they’re to blame for thousands of dollars lost to e-transfer fraudsters”.

There are 3 or 4 stories and in every single instance, someone had access to the recipient’s email and the sender had used an easily guessed password. In one case she even sent the password via email so the “hacker” had access to both the transfer and the password. In another case, the password was “what’s your wife’s name?” so all they did was went to his Facebook page.

In all of these cases, I fail to see how the bank is responsible. If I was the guy who paid my contractor the $3k (wife’s name guy) and someone got into his email, that’s on the recipient. Not me. I tell him “I paid, you figure it out with your bank.”

 

[Okay Player]

If you click on the article in the first post, there’s also a link to a 2019 CBC article titled “Banks tell dozens of customers they’re to blame for thousands of dollars lost to e-transfer fraudsters”.

There are 3 or 4 stories and in every single instance, someone had access to the recipient’s email and the sender had used an easily guessed password. In one case she even sent the password via email so the “hacker” had access to both the transfer and the password. In another case, the password was “what’s your wife’s name?” so all they did was went to his Facebook page.

In all of these cases, I fail to see how the bank is responsible. If I was the guy who paid my contractor the $3k (wife’s name guy) and someone got into his email, that’s on the recipient. Not me. I tell him “I paid, you figure it out with your bank.”

Don't get me wrong, there are definitely some savvy fraudsters out there, but more often than not the cause of a fraud is people operating under the assumption that someone else should be the one looking out for you.

 

[polyslax]

That's not what they are saying. They are saying depending on the sender's bank, it could be cancelled before it hits your bank account even if you have auto deposit

I can send you an etransfer now and cancel it any time in the next 30 days. How scary is that?!?

Oh, forgot to mention…
Once you deposit it, it’s 100% safe.

There’s no danger as long as you make sure the money is in your account. Anyone who lets a stranger drive away before receiving the funds can’t blame anyone but themselves if shit goes sideways.

For sure, a good reminder to wait for the transaction to complete on your end. I can understand how she might have thought, ok I've seen the confirmation on his end, I have auto-deposit turned on, deal done.

 

[RBlakeney]

The people who get scammed with EMTS are the same people who get scammed thinking they can pay CRA with iTunes gift cards.

 

[jbealsmusic]

I didn't realize this was news. Everyone using EMT should be aware that not all sending banks support auto-deposit. So, even if you have auto-deposit enabled, always make sure the money is actually deposited into your account before walking away.

Walking away before seeing the confirmation on your end is like seeing the wad of cash disappear from their hand and thinking, "I guess I've got the money now, even though I don't see it anywhere." If it isn't in your hand (your account), you don't have it.