Conexus Credit Union says online fraud cases are spiking in Saskatchewan

With a recent spike in scammers seen in online marketplaces Conexus Credit Union is warning Saskatchewan residents to be vigilant when selling items online.

According to Conexus’ chief risk and compliance officer Mark Millham, fraudsters are increasingly trying to obtain banking information through online marketplaces.

In a news release, Conexus says fraudsters are targeting people regardless of what bank they use.

“Fraudsters use online trickery and social engineering to defraud their victims. A fraudster may respond to an online post, expressing interest in the item. They will then suggest purchasing items via e-transfer. The fraudster sends an email mimicking the e-transfer emails everyone recognizes. There will be slight differences in the email that are difficult to discern without close inspection,” the release says.

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Fraudsters are now also sending fake e-transfers through social media messaging platforms, Conexus added.

According to Conexus, the best way to protect yourself is by setting up autodeposit for e-transfers. “Without the possibility of fake e-transfer emails, legitimate e-transfers are processed automatically, reducing the risk of clicking on a fraudulent link or providing online banking credentials to bad actors,” Conexus said in the release.

Other ways to protect yourself include never entering banking information anywhere except your official online banking app or website, setting up real-time alerts through text message or push notification and by being hypervigilant, according to Conexus.