Subj : eTransfer loophole
To   : All
From : August Abolins
Date : Mon Mar 06 2023 10:11:00

 AA> There was a story on CBC radio this morning about a person who
 AA> received an eTransfer payment (auto-deposit) for an in-person
 AA> exchange of an item for sale.

 AA> But the payor was able to cancel the payment within 30 minutes,
 AA> long after he had disappeared with the goods.

Here is the link to the story on the CBC website.

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

It turns out that the woman did NOT check the balance of her  
account, did she receive any "notification" of a deposit.  Very  
bad.

Usually, an eTransfer auto-deposit completes within a few  
minutes.

"When the (auto-deposit) e-transfers came from one of the big  
banks, senders never had an option to cancel it.

"Some credit unions, though, allowed senders to cancel for more
than half an hour after the (auto-deposit) e-transfer was sent
- even though the notification the sender received indicated it
was completed.

  ..that's very bad too. Shame on the credit unions, and shame  
on Interac for not inforcing protocols uniformly.


-- 
  ../|ug

--- OpenXP 5.0.57
 * Origin: Stare into this point intently ->.<- (1:153/757.21)

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