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Canadians are worried about fraud but may not know the signs

by Steve Randall on 04 Mar 2020

March is Fraud Prevention Month and a new survey reveals that six in 10 Canadians are more concerned about being scammed than ever before.

But despite their concerns, many are putting themselves at risk of fraud by not protecting their financial accounts secure and other risky behaviour according to payments firm Interac.

Although it leaves their finances vulnerable, 52% of Canadians do not change their online banking or email password regularly and a third of Canadians have accessed online banking on a public WiFi network.

"Our study shows that Canadians are being targeted non-stop through a wide range of channels – phone, email, text and social media," said Rachel Jolicoeur, Director, Fraud Prevention & Partnerships at Interac Corp. "Nearly half of Canadians or their families report falling victim to fraud, emphasizing the importance of Canadians to stop, scrutinize and speak up to avoid scams."

Identity theft
In major cities, those in Montreal were most likely to have experienced identity theft (16%) along with 8% in Toronto and 9% in Vancouver.

Interac is urging Canadians to stop and assess the potential that a communication asking for personal information may be a scam. If they are suspicious then contacting the legitimate seller or financial institution that it claims to be from – via a different channel – to check its validity.



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