A Brampton landlord, Jai Walia, says he’s in shock after two e-transfers totaling $4,500, meant for rent payments, were intercepted by scammers. Despite his tenants sending the payments, Walia never received the money in his account.
The fraud occurred when Walia’s email account was hacked. Scammers used the compromised email to set up a fraudulent bank account with autodeposit. This meant that when his tenants sent the e-transfers, the funds were automatically deposited into the scammers’ account instead of Walia’s. Walia was relying on security questions to receive transfers, but once the autodeposit was set up using his email, those funds bypassed him completely.
One tenant managed to recover their money, but another remains out $2,000. Walia has since switched to autodeposit for his own account to prevent this from happening again.
Cybersecurity expert Nick Biasini highlights the importance of securing email accounts, noting that once fraudsters gain access, they can use it to reset passwords and control linked services. He urges users to enable autodeposit and strengthen email security to avoid similar risks.
