Poll shows new Canadians more likely to use fraud prevention tools
Credit to Author: Canadian Immigrant| Date: Thu, 07 Mar 2024 13:00:55 +0000
A new poll released in time for Fraud Prevention Month in March shows newcomers to Canada are taking stronger measures to reduce their exposure to financial scams. Scotiabank’s 2024 Fraud Poll finds that newcomers to Canada are more vigilant about preventing fraud than other Canadian citizens and residents, The data shows newcomers, defined as Canadian adults who arrived in Canada in the last 10 years, are more likely to:
- Regularly discuss financial security and fraud prevention within their community (47% more likely than other Canadians)
- Use a password manager app (46% more likely)
- Frequently update passwords to protect their online accounts (16% more likely)
This is especially critical given that new Canadians are at a higher risk of being targeted by fraudsters. Despite their efforts to protect themselves, nearly four-in-ten newcomers have fallen for at least one financial fraud scam—a rate significantly higher than for other Canadians. Newcomers are also more likely to be the target of social media scams, job scams and immigration scams.
Both newcomers and Canadians agree that more education around financial fraud is needed.
“When it comes to financial fraud, everyone is a target, particularly individuals who may be in vulnerable positions such as newcomers to Canada,” says Tammy McKinnon, Senior Vice President, Global Fraud Management at Scotiabank. “Effective fraud prevention is essential to building a resilient financial ecosystem that all Canadians can trust.
What to do if you are a victim of fraud
The Canadian Anti-Fraud Centre provides a step-by-step guide for dealing with scams. Click on the links below for more information.
- Collect your thoughts
- Contact your financial institutions
- Contact the police
- Report the incident
- Protect yourself from future fraud
You can also browse various scams on the website here.
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