What to do if you’re a victim of bank account or credit card fraud Jan 12th

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Ask MoneySense
We have been defrauded of over $20,000 by someone who was able to make unauthorized e-transfers from our bank accounts. The bank has recovered a small portion of them, and it has refused responsibility for any more. I am at level three of the complaint process, and I am wondering how to proceed?

Do I need a lawyer now, before filing the new complaint?

My home insurance doesn’t cover anything. I have contacted the credit bureaus and I’m making a police report.


How to deal with financial fraud

Sorry to hear about this situation, William. Any fraudulent activity in your financial accounts can be unnerving. But knowing someone was able to access your bank accounts directly is really intrusive.

Interac e-Transfer is generally a safe way to send money in Canada. In fact, “for every $100 spent across the Interac Debit and e-Transfer networks, less than $0.02 was lost to fraud [in 2021],” according to Interac.

Regardless, fraud happens…

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