11/24/2020
When sending money via e-transfer, make sure your security question is impossible to guess, not something that might be common knowledge.
Emails can, in certain circumstances, be "snooped". So the security question is a second line of defense. If it's easy to guess, that defeats the purpose.
In one example, the question was "the name of one of the beatles". There only were 4 beatles, and the system allows 4 tries.
This is a very bad question.
A Peterborough, Ont., woman says financial institutions and Interac are misleading customers by claiming e-transfers are "fully protected" after money she sent a friend was diverted to a fraudster's bank account. RBC blamed the theft on a weak email password and security question.