Related to privacy: Hackers are intercepting e-transfers and redirecting them to their own bank accounts. Canadian banks guarantee that people aren't liable for unauthorized account access, fraud, and theft. Despite this, Canadian banks are refusing to reimburse people when their accounts are hacked and their money stolen.

https://www.cbc.ca/news/business/rbc-customer-out-of-pocket-after-e-transfer-fraud-1.5128114