TransUnion Study Finds More than Half (56%) of Canadians Said They Were Targeted by Fraud in Second Half of 2024
Almost One in Five (17%) Canadians Reported Losing Money Due to Fraud in Last Year with
Median Loss of $2,013
Gaming, Government and Communities were Most Targeted Sectors by Digital Fraudsters in Canada
Key Study Findings:
- 39% of Canadians surveyed said fraud concerns is the top reason why they abandon online shopping carts.
- 46% prioritize security of personal data as the #1 quality (more than cost savings or quality of goods and services) when deciding what online company to do business with.
- 13% report taking no action when discovering they became a victim of fraud.
- 43% who said they were targeted by fraud involved phishing.
- 11% of attempted digital gaming transactions (including online betting, poker, etc.) where consumer was in Canada were suspected of digital fraud in 2024.
TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- According to the newly-released TransUnion (NYSE:TRU) H1 2025 Update to the State of Omnichannel Fraud Report, more than half (56%) of 1,000 Canadians surveyed said they were targeted by fraudsters through email, online, phone call or text messaging channels from August to December 2024. Nearly one in 10 (9%) of those reporting being targeted said they fell victim to it. Furthermore, when surveyed from Nov. 21 to Dec. 6, 2024, nearly one-fifth of Canadians (17%) said they lost money due to email, online, phone call or text messaging in the past year. The number of Canadians targeted and who fell victim may be significantly higher, but people may be unaware they were targeted.
"Our research indicates that many Canadians don't take the proper steps if they have fallen victim to Digital Fraud," said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada. "These steps should include reporting the suspected fraud to your bank or credit card company to freeze accounts and changing all passwords. Consumers should also notify credit bureaus, including TransUnion, to place a fraud alert on their file, as well as report the incident to the Canadian Anti-Fraud Centre. If personal information was compromised or large sums of money were involved, it should be reported to the local police as well."
Fraud concerns have major influence on who Canadians choose to do business with online.
When engaging online, concerns around security and fraud has a significant impact on Canadians' preferences and behaviours, including when making purchases or choosing who to do business with.
According to the survey that was part of TransUnion's State of Omnichannel Fraud Report:
- 91% of Canadians said having confidence that their personal data will not be compromised is important when choosing who to transact with online.
- 46% said security of personal data is the number one consideration when deciding what company to do business with online, significantly higher than prioritizing cost savings (25%) and quality of goods and services (19%).
- 70% said fraud concerns would cause them not to return to a website.
- 31% said they have switched doing online transaction to another website due to fraud or security concerns.
- 39% said fraud and/or security concerns is a top reason to abandon their online shopping cart. Conversely, 16% said having too many security steps is a top reason to abandon their online cart.
- 35% said they have abandoned an online application for a financial or insurance product before completing it.
While many Canadians took various actions after discovering they had become a victim of fraud, more than 1 in 10 (13%) reported no action at all.
Among Canadians who said they fell victim to email, online, phone call or text messaging fraud from August to December 2024, they reported taking the following actions:
- 51% contacted relevant impacted companies such as credit card issuers, retailers, etc.
- 48% placed a freeze on their credit.
- 29% placed a fraud alert on their credit report.
- 16% called the police.
- 15% contacted a company that compiles and provides credit reports.
- 13% said they took no action.
While Canadians were targeted by a mix of fraud schemes, phishing was the most reported kind.
Among those who said they were targeted by email, online, phone call or text messaging fraud in the second half of last year, the most common reported method by them was phishing (43%). Phishing is when a fraudster uses an email, website, social post or QR code that appears to legitimate meant to trick a consumer into sharing personal information. Other common fraud attempt methods reported by those who said they were targeted include:
- Smishing (40%), where fraudulent text messages try to trick recipients into revealing data.
- Vishing (35%), where fraudulent phone calls try to induce recipients into revealing personal information.
- Third-party seller scams on legitimate online retail websites (19%).
Gaming, Government and Communities Were the Top 3 Industries Targeted by Digital Fraudsters in Canada.
Gaming (including online betting, poker, etc.) had the highest rate of suspected digital fraud1 attempts where the consumer or fraudster was in Canada when transacting. Over 11% of all attempted digital gaming-related transactions were suspected of fraud in 2024, an 80% increase from 2023. This was followed by government (9%), communities which includes online dating sites and forums (7%) and video gaming (6%).
The logistics industry, which has seen growth in shipping fraud (often perpetrated by organized crime rings), saw the greatest suspected digital fraud attempt rate and volume growth among industries analyzed, up 203% and 180% respectively for transactions from Canada YoY compared to 2023. However, the suspected digital fraud attempt rate for that industry was a relatively modest 2% in 2024. Conversely, telecommunications saw the biggest YoY suspected digital fraud attempt rate and volume decrease from 2024 (-88% and -86%) from Canada in that time period.
Canadian Sectors that Experienced Shifts in YoY Suspected Digital Fraud in Many Cases Differed from Global Changes:
| Industry | Canada suspected digital fraud attempt rate 2024 | Change from 2023 | Global suspected digital fraud attempt rate 2024 | Global change from 2023 | ||||
| Gaming (online sports betting, poker, etc.) | 11.1% | +80% | 7.8% | +20% | ||||
| Government | 8.5% | +21% | 1.7% | +6% | ||||
| Communities (online dating, forums, etc.) | 7.0% | -19% | 11.6% | +9% | ||||
| Video gaming | 6.4% | +15% | 10.8% | -23% | ||||
| Financial services | 4.7% | +13% | 4.9% | +3% | ||||
| Retail | 4.6% | +9% | 7.6% | -45% | ||||
| Insurance | 3.3% | +54% | 2.0% | -29% | ||||
| Logistics | 1.9% | +203% | 2.6% | +101% | ||||
| Telecommunications | 0.3% | -88% | 3.0% | -79% | ||||
| Travel & leisure | 0.2% | -26% | 0.9% | -38% | ||||
Source: TransUnion TruValidate™
"While cybercriminals will attack at any time using any channel, they appear to focus on channels most popular in the regions they are targeting," added Boudreau. "Emails are widely used in Canadians' personal and business lives, while many use their mobile phones for everything from work calls to ordering groceries and organizing their families' lives. Fraudsters view these channels as the most likely way that they'll be able to trick people into sharing personal information, which is why all Canadians need to be vigilant about responding to messages of any kind on their digital platforms."
TransUnion came to its conclusions about digital fraud based on intelligence from TransUnion TruValidate.
Specific country and regional data in the report includes Canada, Botswana, Brazil, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom, the United States and Zambia. Download the TransUnion H1 2025 Update to the State of Omnichannel Fraud Report for more information and insights about the global fraud trends.
About TransUnion® (NYSE:TRU)
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we're the credit bureau of choice for the financial services ecosystem and most of Canada's largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.
Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
For more information visit: www.transunion.ca
For more information or to request an interview, contact:
Contact: Katie Duffy
E-mail: [email protected]
Telephone: +1 647-772-0969
1 The rate or percentage of suspected digital fraud attempts reflects those which TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country or region when conducting a transaction. Global statistics represents every country worldwide and not just the select countries and regions.
