Chapter 7 -It's About Business 7.3 - Online Fraud in Canada

Question 1

What percentage of Canadians engage in online activities?

Answer 1

96%

Question 2

What percentage of Canadians use online banking?

Answer 2

78%

Question 3

What percentage of Canadians manage their credit cards digitally?

Answer 3

72%

Question 4

What percentage of Canadians make substantial purchases online that are quite expensive?

Answer 4

29%

Question 5

What is the rate of increase for the younger Canadians?

Answer 5

35%, thus 6% higher than the general population.

Question 6

According to the Canadian Anti fraud Center how many people were victims of fraud in 2022 and how much was the loss?

Answer 6

57,000 people were victims of fraud with 522 million damages and loss.

Question 7

According to the CPA what percentage of Canadians had experienced fraud? Which group is more commonly affected by fraud?

Answer 7

43%. the younger generation is also getting scammed more often now.

Question 8

According to the CPA report what percentage of young Canadians (18 and 34) had been victims of fraud? How about the older adults? What are the types of scams?

Answer 8

• 2/3 had been stated that they are victims at least once in their lifetime.
• 1/3 with 22% having credit card fraud, 8% phishing, and 8% debit card fraud.

Question 9

What is the puppy scam?

Answer 9

Puppies are advertised online for sale and when the shopper pays and tries to go pick it up the address is fake and they cannot get their money back.

Question 10

What is the online product scam?

Answer 10

People sell products online and pay for it, and most of the time the product is never delivered or if it is the product is not what they ordered.

Question 11

What is the rental scam?

Answer 11

There is a property that is listed for rent, and a potential tenant pays for the first month, but once they arrive they come to find that there is someone living there or a business occupies the space, and they never get their money back.

Question 12

What is the CRA scam?

Answer 12

The recipient is told that they must pay for taxes due, extortion.

Question 13

What is the CBSA scam?

Answer 13

Individuals receive an email from the CBSA asking them to pay money to stay in Canada, also an extortion scam.

Question 14

What is the grandparent scam?

Answer 14

Perpetrators pose as a close family member in an emergency such as a car accident or a medical episode and ask for payment transfers immediately. Also an extortion scam.

Question 15

What is the main tactic for these scams to work?

Answer 15

Fear, intimidation, and urgency.

Question 16

How has the government of Canada and the CBA responded?

Answer 16

They have created websites that individuals, small businesses and older adults can access to learn more about the scams and to protect themselves.

Question 17

What does the individual website include?

Answer 17

Tips and tricks to understand when there is a scam and how to tell if a retail app is safe, and how to read the URL to understand what you are clicking.

Question 18

What does the small business website include?

Answer 18

Tips on how to preventing the business email from getting compromised, avoidance and response to ransomeware attacks, security best practices, and how to safeguard customer information data.

Question 19

What does thew older adult websites include?

Answer 19

Tips and tricks to protect them from financial abuse like phone, grandparent. and tech support scams. How to make strong passwords.

Question 20

What is the overall message?

Answer 20

E-commerce will continue to grow and we must be vigilant against these scams and know about the frauds. Use online resources to protect yourself and be more knowledgeable. If there is unauthorized activity report immediately and tell the Canada Anti Fraud centre