Spending more time online due to COVID-19, Canadians feel increasingly vulnerable to fraudsters
March 01 2021 - 6:00AM
Stay-at-home orders and quarantine restrictions have caused many
Canadians to spend more time online buying groceries, arranging
curbside pick-ups and ordering restaurant deliveries. This
has caused them to be more attuned and concerned about the threat
of fraud and identity theft according to a recent consumer survey
conducted by Equifax Canada.
About eight-in-ten (78 per cent)
surveyed Canadians indicated that they feel vulnerable as a target
for fraud online, a six-point increase compared to the same survey
in 2020 (72 per cent). More than half (54 per cent) said they also
feel vulnerable to fraudsters when they’re ‘on-the-go’ (e.g., using
public WiFi, ATMs, etc.), which is an increase of eight points
compared to last year (46 per cent). The survey also revealed that
women are more likely to express a feeling of vulnerability versus
men as a target of fraud on-the-go (57 per cent vs. 50 per cent)
and at-home (37 per cent vs. 28 per cent). Likewise, Canadians age
55 and older expressed feeling more vulnerable compared to adults
age 55 and younger ‘on-the-go’ (60 per cent vs. 50 per cent) and
‘at-home’ (39 per cent vs. 28 per cent).
“Fraudsters and identity thieves are always looking to take
advantage of a crisis,” said Julie Kuzmic, Director of Consumer
Advocacy, Equifax Canada. “It’s understandable to feel vulnerable
given these difficult times, but we must remain vigilant in the
fight against fraud and identity theft. Anyone feeling vulnerable
to this type of crime can alleviate some anxiety by regularly
checking their credit reports online for suspicious activity.”
COVID-19 and Fraud
Since the beginning of the COVID-19 pandemic, eight-in-ten (80
per cent) Canadians say they have embraced at least one of the
following practices, such as ordering online, curbside pickup (41
per cent), in-store self check-out (38 per cent), in-store pickup
of online orders (38 per cent), and restaurant delivery (35 per
cent). With respect to helping prevent fraud or identity theft, 73
per cent of Canadians have made or noticed at least one change due
to the pandemic.
Changes in activity include:
|
I’m reviewing my credit card/bank statements more closely for signs
of fraud |
34 |
% |
|
I’m screening my calls more to
avoid calls from fraudsters |
29 |
% |
|
I’m changing my online passwords
more frequently |
24 |
% |
|
I have checked my credit report
more frequently |
19 |
% |
|
I have checked my credit score
more frequently |
17 |
% |
|
I have noticed more suspicious or
fraudulent links in my social media feeds |
15 |
% |
|
My company has briefed me on how
best to avoid fraud or identity theft |
5 |
% |
“Criminals are probing for weaknesses, whether it’s online, by
phone or in-person,” added Kuzmic. “It’s encouraging that some
people are taking fraud and identity theft more seriously, but we
need to do more to educate ourselves to help prevent this sort of
crime before it happens. In particular, we continue to be concerned
about younger adults, many of whom are still not doing simple
things like changing computer passwords or double-checking
financial statements.”
Millennials at Risk of Identity Theft
Based on the survey results, young adults continue to lag in
their understanding about the risks of fraud and identity
theft:
Survey Statements |
Millennials (18-34) in
Agreement |
Rest of Survey Respondents(35+) in
Agreement |
If someone committed fraud in my name or with my identity, I would
not know what to do to fix it. |
57 per cent |
49 per cent |
I’m not a target of fraudsters because I don’t have enough
money. |
30 per cent |
23 per cent |
Identity theft happens to other people, it’s not likely to happen
to me |
19 per cent |
8 per cent |
However, adults age 35 and older are significantly more likely
to have taken one or more of the following actions in an effort to
protect their personal data over the past 12 months:
Avoided answering calls from unknown numbers |
46 per cent |
62 per cent |
Double-checked credit card or bank statements |
40 per cent |
61 per cent |
Shredded personal and/or financial documents |
28 per cent |
57 per cent |
Updated my security passwords |
31 per cent |
52 per cent |
Shared less about myself on social media |
26 per cent |
37 per cent |
The Canadian Anti-Fraud Centre (CAFC),
the central agency tracking fraud and identity theft, received
101,483 fraud reports involving nearly $160 million in reported
losses in 2020. Moreover, 67,294 of the reports were from Canadian
consumers and businesses, which reported losses totalling more than
$104.2 million. It is estimated that fewer than 5 per cent of
victims of fraud file a report with the CAFC.
“If you ever become a victim of fraud
or identity theft, then you should tell your family, friends,
neighbours and co-workers about your experience,” said Jeff
Thomson, a senior RCMP intelligence analyst with the CAFC. “We need
more people to report fraud. If it happens to you, report it to the
Canadian Anti-Fraud Centre, your financial institutions, credit
bureaus and police. By sharing your story, you may prevent someone
else from becoming a victim.”
Equifax Canada encourages all consumers to check their credit
reports at least annually. More tips on ways to help protect
yourself from becoming a victim of identity theft can be found on
the company’s website at:
https://www.consumer.equifax.ca/personal/education/identity/.
Consumers concerned about fraud and identity theft can also place
an alert on their Equifax credit reports by calling:
1-800-465-7166.
Equifax surveyed 1,540 Canadians ages 18-65, Feb.
5-7. A probability sample of the same size would yield a
margin of error of +/- 2.5%, 19 times out of 20.
About EquifaxAt Equifax (NYSE: EFX), we believe
knowledge drives progress. As a global data, analytics, and
technology company, we play an essential role in the global economy
by helping financial institutions, companies, employees, and
government agencies make critical decisions with greater
confidence. Our unique blend of differentiated data, analytics, and
cloud technology drives insights to power decisions to move people
forward. Headquartered in Atlanta and supported by more than 11,000
employees worldwide, Equifax operates or has investments in 25
countries in North America, Central and South America, Europe, and
the Asia Pacific region. For more information,
visit Equifax.com.
Media Contacts: |
|
|
|
Andrew FindlaterSELECT Public Relationsafindlater@selectpr.ca(647)
444-1197 |
Tom CarrollEquifax CanadaMediaRelationsCanada@equifax.com (416)
227-5290 |
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