The Globe and Mail - 06.03.2020

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information. This type of scam is

becoming more prevalent, not only

in Canada, but globally.

According to the survey,47per

cent of Canadianswho have expe-

rienced fraudsay they have been a

victimof phishing,while 46 percent

report they have fallen for phone

scams.

“We also found that many

Canadians are engaging in online be-

haviours that make them vulnerable

to fraud,” Ms. Jolicoeursays. “For

example, despite all the warnings

about the risksof conductingonline

banking ona public WiFi network –

we found that one in three Canadians

has done it.”

Canadians can stay aheadof email

scams by looking for typical “red

flags” and by protecting themselves

through three steps that Ms. Joli-

Look for warning

signs,such as a

demandthat you act

immediately to avoid

a bad outcome;

criminals count on

you to panic.”

Rachel Jolicoeur

Director of Fraud Prevention &

Partnershipsat Interac Corp.

EXPERIENCES WITH

FRAUD

48%

Share of Canadians or

theirfamiliesvictimized

by fraud

Among those:

47%

Victims of online phishing

46%

Defrauded through

phone scams

RISKY DIGITAL

BEHAVIOURS

Almost

2in5Canadians have

clicked a link from an

unknownsource (37 per

cent).

1in3Canadians

reported changing their

online banking or email

password only when

prompted (35 per cent).

1in3Canadianshas

accessed online banking

on a public WiFi network

(34 per cent).

TheInteracFraudPrevention

Indexis based on a survey of

2,200 Canadians across the

country.

INTERAC FRAUD

PREVENTION

INDEX 2020

coeur describes as, “Stop, scrutinize

and speak up.

“Stop means don’t rush into re-

sponding–takea momentand trust

your instinctsthat somethingprob-

ably isn’tright,” she says. “Scrutinize.

Look for warningsigns,such as a

demand that you act immediately to

avoid a bad outcome; criminalscount

on you to panic.”

Finally, she adds, speak up.Ifyou

suspect fraud, contact the legitimate

organization throughother secure

means to determine if the contact

was from them, andto ensure you

didn’t mistakenly release sensitive

information. Report any concerns.

“Canadiansare the first lineof

defence in preventing fraud, and they

have an important role to play when

it comes to protecting themselves

and their identityonline.”

he fraud landscape has

transformed and no longer is

fraud just the result of stolen wallets

or break-ins. Today Canadians are

experiencing fraud through multiple

channels: in-person, by phone calls,

texts and emails, and over public

wireless networks.

Canadians recognize the varied

ways fraudsters can strike, and 62

per cent worry aboutit moretoday

than everbe fore. However,despite

their concerns, Canadians continue to

engage in behaviours that put them

at risk, according to a new national

survey from Interac Corp.

For Fraud Prevention Month 2020,

the company has released its firstIn-

teracFraudPreventionIndex, which

surveyed 2,200 Canadians across the

country about their attitudes toward

fraud and fraud prevention. One key

finding: nearly half of respondents

or their families (48 per cent) report

having been victims of fraud.

“Our Fraud Prevention Index

shows that while Canadians are wor-

ried about fraud, they are overesti-

matinghow savvy they are when it

comes to protectingthemselves from

scams,”says RachelJolicoeur, direc-

tor of fraud prevention & partner-

ships at Interac Corp. “Criminals are

constantly evolving and developing

new, more sophisticated techniques.

We need to increase fraud literacy

about the different typesof fraud and

what Canadians can do to protect

themselves.”

Across all provinces, the most

commonly experiencedform of fraud

is phishing – typically misleading and

deceptive emails that falsely claim

to be from a legitimate organization

(a bank, business or government

agency) and which ask the consumer

to surrender private and personal

Q&A WITH JOSEPHINE

PALUMBO, DEPUTY

COMMISSIONER, DECEPTIVE

MARKETING PRACTICES

DIRECTORATE, COMPETITION

BUREAU OF CANADA

For 2020,thecampaignfocus is

digitallyenabledfraud.Why this

theme?

From 2010 to 2017, the digital

economy grew 30 per centfaster

than the overall Canadian economy.

Because we spend more of our lives

online, our riskof exposure to fraud

is heightened. Althoughfraudsters

are still targeting victims by phone,

mail and in person, the internethas

really become the fraudsters’ toolkit.

The Bureau is keenly aware of the

sophisticated scams taking place

online. Scammers are continually

adapting and used cutting-edge

digital tools to cheat Canadians.

How significantis thefinancialcost

offraud?

Fraud is a crime that threatens every

Canadian regardless of age, income

or education. The Canadian Anti-

Fraud Centre reports that Canadians

lost more than $98-millionto all

types of fraud in 2019. What’s trou-

bling is that the Centre estimates that

Canadians report only about five per

cent of the cases to authorities,so

the actual impact is much greater.

Why is thereporting rateso low?

Fraudsters cantarget anyone –

children, seniors, new Canadians,

millennials. Some peoplefeel

embarrassed by the fraud or think

their financial loss isn’t significant

enough. This is troubling for law

enforcement because it restricts

theirabilityto stop scams and

bring fraudsters to justice. Anyone

can be a victim of fraud – every

demographic and businesseslarge

and small. It is not something to be

ashamed about– do step forward

and report.

How will you informCanadians this

yearabout protecting themselves

fromfraud?

Among our activities will be

extensive social media campaigns

on Facebook,Twitter and LinkedIn,

and the release of alerts about new

digital scams.

The fight against fraud isa collec-

tive one; we have to work together

to achieve progress.

Follow the campaign on Facebook at

@competitionbureaucanada, or on

Twitter at @CompBureau and with

the hashtag #FPM2020.

T

Fraudpreventionmonth

Six in 10 Canadians are more worried about fraud today than ever before

Sixoutof10Canadiansreporttheyfeelmoreworriedaboutfraudthaneverbefore,andnearly

halfofCanadiansortheirfamiliesreporthavingbeenvictimsoffraud.ISTOCK.COM

INTERVIEW

DIGITAL SCAMSBECOMING MORE FREQUENT AND SOPHISTICATED

Fraud Prevention Month is an annual campaign by the Competition Bureau, Chair of the Fraud Prevention Forum, and its partners to

inform Canadians about the dangers of fraud.

Interac®Debit

Helping

you pay

safelyfor

over 35

years.

Interac

andthe

c

Interac

logoareregisteredtrade-marksofInteracCorp.

c

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