Digital fraud is on the rise in Canada, with close to half of Canadians reporting that they have been targeted by scamming attempts recently. Businesses are also being targeted, with a 40% increase in scamming attempts originating from Canada against companies worldwide. Certain industries, such as telecommunications and insurance, have seen a significant increase in fraud attempts. Online communities, including dating sites and forums, are also experiencing a rise in scammers. Overall, the rate of suspected digital fraud in Canada has increased from 3.2% in 2022 to 4.5% in 2023. Scammers are using tactics such as phishing and vishing to target people, with 43% of Canadians reporting that they have received scam phone calls and 41% receiving fraudulent text messages. While only 6% of those targeted have fallen for fraud attempts, it is still important for individuals to take steps to protect themselves. TransUnion suggests regularly monitoring credit scores, keeping an eye on banking and credit card statements, using unique passwords, and shredding sensitive receipts and bills. Additionally, Canada Mortgage and Housing Corp. will release an update on the additional housing supply required to restore affordability by 2030.
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