TORONTO, Feb. 28, 2022 /CNW/ - Canadians are feeling the impact of the increase of fraud attempts during the pandemic. According to RBC's 2022 Fraud Prevention Month Poll, 48% of respondents say they have been increasingly targeted by fraudsters since the start of the pandemic, compared to 22% in 2021.
The research also found that 54% agree it is harder than ever to tell when an email, text or online ad is a scam, while 47% say they have been increasingly targeted by fraudsters posing as trusted brands. One-third of respondents (33%) also say they know family members or close friends who have been victims of online fraud in the past year.
"It's important to recognize that anyone can fall victim to fraud. It's just as important to talk about it if it happens to you," says Kevin Purkiss, Vice-President, Fraud Management, RBC. "Our research shows that 18% of respondents said if they were a victim of fraud they would be too embarrassed to tell anyone, however if you do experience it, I encourage you to have conversations with your family and friends so that we can all become more informed and learn about potential threats."
And Canadians aren't just feeling the increase in fraud attempts; the amount Canadians are losing to fraud is also on the rise. According to the Canadian Anti-Fraud Centre, in 2021, there was $379 million in reported losses from fraud compared to $160 million 2020. When it comes to financial losses, investment scams are at the top of the list.
"We're seeing more sophistication and creativity in how scams are carried out," says Purkiss. "And there is an increase in attempts to convince clients to send money across secure payment channels such as Interac e-Transfer transactions and wire payments, as well as with fraudsters pretending to be from government agencies offering COVID-related support."
Purkiss offers five tips to help combat online fraud:
- Don't click on unknown email links or attachments, and never open emails from addresses you do not recognize.
- An offer too good to be true usually is. Trust your instincts, ask questions, do your research and be extra cautious and vigilant.
- Social media provides fraudsters with a large pool of potential victims, be mindful of the personal information you post online and take advantage of privacy settings across all platforms.
- Use caution when contacting companies on social media or anywhere online as fraudsters are good at mimicking legitimate websites and social media pages so they can intercept your banking information.
- Never share your banking or credit card information, passwords or verification questions (and answers) with others, including by email or text.
Purkiss adds that RBC also supports clients with a team of fraud experts who work 24/7, along with industry associations, government and law enforcement, to help prevent, detect and investigate fraud.
If you think you have fallen victim to a scam, contact your local bank branch or your bank's fraud team. You can also learn more about the risk of fraud and what you can do to protect yourself by visiting rbc.com/privacysecurity/ca/protecting-yourself.
RBC Fraud Prevention Month Poll
How are fraudsters targeting Canadians and what type of scams are top of mind for 2022?
|
Type of Scam
|
I have been targeted by the
following scams since the
start of the pandemic (March
2020).
|
I think Canadians should be
concerned about the following
types of fraud in 2022.
|
|
Phishing1
|
69%
|
70%
|
|
Spear Phishing2 or Vishing3
|
53%
|
71%
|
|
Fake courier or delivery scams
|
47%
|
62%
|
|
Online shopping scams
|
29%
|
68%
|
|
Investment or cryptocurrency scams
|
23%
|
59%
|
|
Inheritance scams
|
20%
|
42%
|
|
Scams that look to be from a boss,
co-worker or vendor
|
16%
|
50%
|
|
Buy and sell scams on websites
|
16%
|
60%
|
|
Charity or donation fraud
|
13%
|
57%
|
|
Romance scams
|
13%
|
46%
|
|
COVID-19 related scams
|
11%
|
59%
|
Regional Comparisons
|
All Respondents
|
CAN
|
BC
|
AB
|
SK/
MB
|
ON
|
QC
|
AC
|
|
Been increasingly targeted by fraudsters
since the start of the pandemic
|
48%
|
47%
|
41%
|
54%
|
53%
|
46%
|
39%
|
|
Find its harder than ever to tell when an
email, text or online ad is a scam
|
54%
|
52%
|
49%
|
53%
|
56%
|
54%
|
62%
|
|
Increasingly targeted by fraudsters
posing as trusted brands
|
47%
|
49%
|
45%
|
49%
|
52%
|
42%
|
38%
|
|
Know family members or close friends
who have been victims of online fraud in
the past year
|
33%
|
34%
|
22%
|
30%
|
36%
|
35%
|
27%
|
|
Would be too embarrassed to tell family
or friends if they were a victim of fraud
|
18%
|
21%
|
15%
|
19%
|
18%
|
15%
|
18%
|
|
1Phishing is a very common online scam where an email or text is sent, attempting to trick the recipient into giving up personal, business or financial information with a phony offer (telling you that you've won a vacation or a lottery, for example). Phishing can also be through messages on social media sites and telephone calls.
|
|
2Spear phishing is when scammers tailor their phishing attacks to target a specific individual, based on information they may have already gained (like through social media.) This could resemble an email, text or a message through social media that looks like it is coming from a friend.
|
|
3Vishing is a scam used over the phone where a cyber-criminal will call claiming to be from a reputable source who wants you to share your personal and banking information.
|
About The Survey
These are the findings of a survey conducted in English and French by Royal Bank of Canada from January 7-10, 2022, with a nationally representative sample of 1,518 online Canadians who are members of the Angus Reid Forum, balanced and weighted on age, gender, region and education. The precision of Angus Reid Forum online polls is measured using a credibility interval. In this case, the poll is accurate to within ± 2.5 percentage points, 19 times out of 20, had all Canadians been polled. All sample surveys and polls may be subject to other sources of error, including but not limited to coverage error and measurement error.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 88,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
SOURCE RBC Royal Bank
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