Three in four worried about fraud

By Andrew Rickard | March 04 2016 11:39AM

A survey conducted by the Chartered Professional Accountants of Canada (CPA Canada) has found that 75% of Canadians are more concerned about fraud today than they were five years ago.

In particular, the poll found that many people are worried about online shopping and the protection of their personal information; 44% of the respondents who have access to the Internet indicated they are uncomfortable making online purchases. Overall, 26% said they do not spend anything on online purchases, and just 20% spend $1,000 or more online in an average year.

The survey also revealed that 17% of the respondents had corresponded, either through social media or email, with someone who had misrepresented their true identity, 14% had one of their email accounts accessed without their permission, and 8% had one of their social media accounts accessed by someone without their authorisation. In addition, 33% reported they had been a victim of fraud at some point in their lives. 65% of these fraud cases involved credit cards, while 31% involved debit cards.

Asked about the precautions they are taking to safeguard their information, 86% of those who have access to the Internet and have a debit or credit card use passwords that contain letters, numbers, and symbols for websites that include financial information. What’s more, 88% of respondents with a credit or debit card say they always shred statements that list their card numbers, and 73% always lock their mobile device when not in use.