Toronto e-transfer scam: what you need to know

A person uses a cellphone in Ottawa on Monday, July 18, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Toronto police are warning the public about an ongoing e-transfer scam after investigators say victims were approached by a suspect near malls and other public spaces.

As part of the scam, police said, a suspect approaches victims and asks them to send $10 or $20 through an e-transfer in exchange for cash.

The victim provides their cellphone to the suspect, with their banking app open, and the suspect transfers upwards of $3,000 into their own account.

The suspect then returns the phone to the victim and flees the area, police said.

It is not clear how victims have been targeted in the scam.

Police offered tips to members of the public for fraud prevention, including maintaining possession of your phone while completing the transfer.

“Never allow strangers to access your banking information on your phone,” police said in a news release issued Tuesday.

Anyone with information about the scam can contact police at 416-808-3300 or Crime Stoppers anonymously at 416-222-TIPS (8477).

Victims of fraud can also report the incident to local police and to the Canadian Anti-Fraud Centre’s online reporting system or by phone at 1-888-495-8501.