Nearly Half of Canadians Report Being Targeted by Digital Fraud as Scammers Exploit Familiar Communications and Accounts
Key Highlights
- ➤49% of Canadians surveyed were targeted by fraud; 6% became victims
- ➤Suspected digital fraud in financial transactions increased 226% from H1 2022 to H1 2026
- ➤Account login represented 42.4% of suspected digital fraud in Canada during H1 2026
- ➤Synthetic identity fraud exceeded 14% of Canadian onboarding credit losses
- ➤34% of Canadian business leaders cited scams as their biggest fraud-loss source
Expert Statements
Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion
“Fraudsters are getting better at making scams look and feel legitimate, whether that is a familiar text message, phone call, email or interaction with an account a consumer already uses”
Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion
“That makes it increasingly important for Canadians to stay alert even when an interaction looks familiar, and for businesses to continue strengthening how they protect their customers.”
Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion
“Protecting customers cannot stop once an account has been opened”
Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion
“Businesses need to keep looking for signs that something has changed when customers log in, manage their accounts or make transactions, while keeping those experiences streamlined for legitimate customers.”
Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion
“During the holiday shopping season, consumers expect to see more communications about deals, delivery updates, emails, texts and general activity across their accounts, and fraudsters can use that increased activity to their advantage”
Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion
“Canadians should be especially mindful this holiday season by taking a moment to verify requests and protect their personal and login information to help reduce their risk of becoming a victim of fraud.”
TORONTO, Oct. 28, 2026 (GLOBE NEWSWIRE) -- New analysis from TransUnion (NYSE: TRU) shows nearly half (49%) of Canadians surveyed reported being targeted by a fraud scheme through email, online, phone call or text messaging during a recent three-month period, including 6% who said they became victims. The analysis also found fraudsters are increasingly exploiting familiar communications, including email, phone calls and text messages, to exploit trust and target people through existing customer relationships.
According to TransUnion’s H2 2026 Update to the Top Fraud Trends Report, phishing was the most commonly reported tactic among Canadians who said they were targeted, at 47%, followed by fraudulent phone calls, or vishing, at 44%, and fraudulent text messages, or smishing, at 40%.
Get started
Create a free account to read the full story.