B.C. has the highest fraud and scam exposure in Canada
Over half of British Columbians reported encountering fraud or scam attempts weekly or daily, the highest in the country.
According to a recent survey from TD, B.C. residents said they come across fraud or scam attempts five times per week on average, compared to a national level of three to four times per week.
Eighty-four per cent of B.C. respondents also said scams are getting harder to detect, and 81 per cent reported that AI increases their vulnerability to scams and fraud, compared to 75 per cent nationally.
“There is a huge rise in AI tools and capabilities. There are all sorts of different scams and frauds that are out there today when it comes to phishing scams and phone calls, text messages and emails,” Kevin Wicks, the manager of fraud education for TD, told Daily Hive.
“It’s just become that much easier for these folks to create these frauds and scams. They can quickly create a phishing email within seconds by just entering some prompts. Or they could use it to code a website which is geared to capture consumers’ financial information or personal information, if it’s replicating a legitimate website,” Wicks added.
Across Canada, 52 per cent of respondents said they engaged in activity that makes them more vulnerable to fraud or scams — like using public Wi-Fi to check financial accounts, opening email attachments from unknown senders, clicking links from texts or emails without verifying who the sender is, engaging with “questionable” online offers, or downloading apps or software from unfamiliar sources.
How can people avoid scams?
Around 63 per cent of B.C. residents reported that they would feel less vulnerable to financial fraud if their family members discussed fraud and scams, but just 28 per cent of them said they do so. Forty-five per cent said they never consult resources or seek advice on fraud prevention.
“With those statistics in mind, it seems like it’s quite important that consumers continue to have those conversations around the dinner table or at sporting events or family gatherings and share their personal experiences. Because those kinds of conversations could prevent someone who is vulnerable within your family from falling victim to fraud or scam,” said Wicks.
He also encourages people to “keep an eye on your mobile device,” since cyber fraudsters target people through phone calls, text messages, emails, and direct messages on social media.
Further, people should make sure they aren’t using the same password for all applications, review their finances and online profiles to ensure that everything is private, and get their financial institutions to enact fraud alerts and use two-step verifications.
“And then finally, [take] a step back if you feel uneasy about a situation, if something feels too good to be true — we’re all in our own right to stop the conversation we might be having with someone who’s a potential scammer. Pause if we’re looking at a website or a text message and considering responding. Take a step back, do the proper research, have those conversations,” Wicks said.
If in doubt, he encourages people to call their bank and ask for help.