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These are the top scams impacting Canadians: survey

Government impersonation and phishing are the top financial scams, a new Interac survey revealed.

In a world already burdened with economic concerns, Canadians face an added challenge: the pervasive threat of fraud and scams.

A new survey from Interac sheds light on the prevailing scams targeting Canadians and the toll it takes on their financial well-being.

As we approach the year's end, the survey underscores the grim reality: scams loom large in the Canadian landscape.

The survey, conducted online between Sept. 28 and Oct. 6 with 1,202 participants, revealed three predominant scams dominate the scene: scammers posing as representatives of government bodies (42%), phishing scams (41%), and counterfeit banking, credit card, and online account schemes (33%).

The statistics divulged in the survey paint a concerning picture:

Prevalence of Scams: More than half of respondents (53%) recount encountering financial scams, showcasing the pervasiveness of this issue across Canada.

Worry and Concern: Four in ten Canadians (40%) express profound worry about becoming victims of financial scams, emphasizing the anxiety hovering over individuals regarding their financial security.

Impact on Confidence: A significant revelation emerges from the survey, with over a third of respondents (36%) acknowledging that falling prey to financial scams significantly chips away at their financial confidence. This sentiment resonates strongly with newcomers, with a staggering 56% expressing a dent in their financial assurance due to these scams.

With Financial Literacy Month coming to an end, this survey serves as a timely reminder for Canadians to educate themselves, stay vigilant, and adopt precautionary measures to safeguard their finances. 

While the battle against scams persists, arming oneself with knowledge and prudence remains the strongest defence against these financial threats.