Phone Frauds and Scams on the Rise in Canada

The incidence of fraud attempts, scams, and phishing attacks is on the rise in Canada, affecting both consumers and businesses. According to research from TransUnion Canada, nearly half of Canadians have been targeted by scams recently. Within the first six months of 2023, scamming attempts originating in Canada against companies around the world have increased by 40% compared to the same period last year.

Certain industries are more susceptible to fraud attempts. The telecommunications sector has seen a 400% increase in fraud attempts since last year, while insurance companies have experienced a 90% uptick in suspected digital fraud. Online communities like dating sites and forums have also witnessed a rise in scammers, with suspected fraud increasing by 75% from the previous year.

The prevalence of fraudulent activities has made consumers wary of answering calls, with 43% of Canadians reporting that they have been targeted through fraudulent phone calls in the last three months alone. This fear has led to many people avoiding picking up their phones altogether, causing them to miss important calls.

Apart from phone calls, Canadians are also being targeted through phishing emails, websites, and social media posts. Text message scams, known as “smishing,” are also prevalent. While only 6% of those targeted by fraudsters have fallen for their schemes, it is crucial for individuals to take steps to protect themselves.

TransUnion recommends regularly monitoring credit scores, keeping an eye on banking and credit card statements, using unique and memorized passwords, and shredding sensitive receipts and bills. These measures will help individuals safeguard their personal information and avoid becoming victims of fraud.

Apple Inc. has recently unveiled its latest iPhone models, including the iPhone 15, 15 Plus, 15 Pro, and 15 Pro Max. The prices for these new models are higher than previous releases, with the iPhone 15 priced at $1,129 and the iPhone 15 Plus at $1,279. In the United States, the entry-level models start at $799.

Canada Mortgage and Housing Corp. will release updates on the additional housing supply required to restore affordability by 2030. The report will provide details on how changing economic and demographic projections have impacted supply gaps across provinces.

It is important for consumers and businesses to be aware of the rising threats of fraud and scams and to take necessary precautions to protect themselves.