The State of Scams in Canada

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Uncover the Critical Role of Financial Institutions in Scam Prevention and Customer Safety.

This comprehensive report by the Global Anti-Scam Alliance (GASA) and Feedzai is grounded in a survey of 989 Canadians, and paints a vivid picture of the scam landscape. A staggering 75% encounter scams monthly, with victims losing an average of C$2,406, highlighting the critical need for immediate action.
Key Insights:

  • Alarming Prevalence: Scams impact 3 out of every 4 Canadians, yet a worrying 69% do not report these incidents to law enforcement.
  • Trust in Financial Institutions: A significant 55% of scam victims seek help from their banks, showcasing the trust placed in these institutions over others.
  • Emerging Challenges with Real-Time Rails: As financial technologies evolve, they also create novel avenues for scammers to exploit.

Be Proactive Against the Scam Epidemic. 
This report transcends mere data; it serves as a rallying cry for individuals, corporations, and policymakers to unite in the fight against digital fraud.
Feedzai – A proud collaborator with GASA, committed to arming financial institutions with advanced tools to prevent scams and protect consumers.

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Most systems are blind to the subtle patterns and emerging threats that cost businesses millions, but Feedzai goes deeper.

We’ve successfully replaced every major provider, reducing fraud losses each time. Schedule a free risk assessment, and we’ll uncover hidden vulnerabilities in your current defenses, revealing the true cost of fraud to your business.

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Page printed in December 22, 2024. Plase see https://www.feedzai.com/resource/the-state-of-scams-in-canada for the latest version.