Police warn new online marketplace scam is on the rise. Here’s how it works

Police say the scam targets people who have posted an item for sale on online forums like Facebook Marketplace or Kijiji. (THE CANADIAN PRESS/Jesse Johnston)

Police in Guelph, Ont. are warning the public about what they say are increasing incidents of a new type of phishing scam.

The scam targets people posting items for sale on online forums like Facebook Marketplace and Kijiji, police said in a news release.

The scammer responds to an ad offering to pay a deposit via e-transfer. Then the seller receives a text or e-mail with what appears to be a link to deposit the e-transfer.

Police said when the victim clicks the link, it opens a website asking them to select which financial institution they want to use to deposit the funds, followed by a request that they input their bank account number and password. The scammers then use these credentials to log into the victim’s online bank account, change the password, and drain the victim’s accounts.

“By the time the victim realizes what has transpired, the victim has lost access to their accounts,” police said. “Banks will typically freeze the accounts when they are advised of the account takeover, however, it’s usually too late, and money has already been transferred out of the accounts.”

HOW TO PROTECT YOURSELF

Police said one way to avoid this scam is to sign up for direct deposit so legitimate e-transfers are automatically deposited into your account without the need to enter account information.

Never share personal or financial details unless you are certain the request is legitimate. If you’re not sure, ask a family member, co-worker, trusted friend or call Guelph police at 519-824-1212 before following through on instruction from a person you don’t know, police said.