Aware but unprepared: Canadians know fraud is on the rise, but don't know what to do if their data is compromised

RBC poll finds number of Canadians whose personal information was exposed is on the rise

TORONTO, Sept. 26, 2023 /CNW/ - With new scams becoming more frequent and sophisticated, a majority of Canadians (88 per cent) report they've experienced an increase in attempts at fraudulent activity, and seven out of 10 (73 per cent) say they were knowingly targeted, according to a new survey from RBC. In addition, more than half (57 per cent) say they received notifications their personal information was exposed in a data breach, which is up considerably from 20 per cent in 2022. Yet, while Canadians' awareness of scams is high, most (68 per cent) don't know what actions to take if their personal data is compromised, leaving plenty of room for education and preparedness.

"Cybercrime is continuously evolving as fraudsters polish their approach, whether online or through digital communications," says Adam Evans, chief information security officer, RBC. "The poll reveals that while most Canadians have a healthy skepticism and high awareness of fraudulent activity, there's still a lack of preparedness and knowledge around how to handle a data breach, which can lead to anything from loss of finances to identity theft."

Most common methods of fraud attempts

The most common ways in which Canadians experience fraud attempts are via email (55 per cent) followed by phone calls (47 per cent) and text message (40 per cent). While nine out of ten (87 per cent) Canadians feel that they can tell the difference between legitimate and fraudulent communication, more than one third (36 per cent) report feeling helpless to protect themselves from all the fraudulent calls and emails they receive. Younger Canadians (18 to 34 years old) are more likely to feel helpless (41 per cent) compared to other age groups. Interestingly, this younger generation is simultaneously less likely to be concerned about cyber security threats than their older counterparts.

Top concerns

Overall, Canadians worry most about unauthorized access to their online accounts and/or personal information (82 per cent) followed closely by having their email or social media accounts hacked (78 per cent).

Three quarters (76 per cent) of Canadians are concerned about identity theft and being the victim of a corporate data breach (73 per cent) or being the victim of an online scam (72 per cent).

		AGE
Concerns about fraudulent activity	Total	18-34	35-54	55+
Unauthorized access to online accounts/personal information (i.e. hijacking accounts)	82 %	77 %	85 %	84 %
Having your email or social media accounts hacked	78 %	72 %	81 %	81 %
Identity theft	76 %	67 %	80 %	79 %
Being the victim of a corporate data breach	73 %	66 %	76 %	75 %
Being the victim of online fraud/scam	72 %	68 %	74 %	72 %

 

How Canadians deal with suspicious communications

When it comes to the most common actions taken as a result of receiving suspicious calls, emails, or messages, two thirds of Canadians say they simply delete it (66 per cent) and block the number or email (64 per cent). Fewer than half either ignored it or reported it (44 per cent, respectively).

Meanwhile, they use several techniques to determine the legitimacy of these suspicious calls, texts, or emails, including:

• 78% never open unexpected attachments whenever they receive them
• 76% always trust their instincts; if it feels wrong, it likely is
• 70% always pause to think before replying
• 68% always check communications they receive for bad grammar, spelling mistakes, and unusual language
• 48% say they always report suspicious emails as spam in their inbox

In contrast to younger generations, older Canadians 55+ are more likely to employ counter measures like never opening unexpected attachments (85 per cent), always pausing before replying (81 per cent) and always checking the message for grammatical and spelling mistakes (73 per cent).

RBC has articles, tips and guides for Canadians on its Be Cyber Aware website, including:

Change the account's password to lock out the hacker

Notify your contacts that your account was hacked. Let them know they may receive spam messages that look like you sent them

Make sure your security software is up to date. Scan your system for malware, especially if you suspect your computer might be infected with a virus

Disable any remote access permissions on your computer

Report your breach to your local enforcement authorities and financial institution

About the RBC Study

These are the findings of an Ipsos poll conducted on behalf of RBC. The survey was conducted in English and French. A sample of 1,500 Canadians over 18 was surveyed online via the Ipsos I-Say panel from August 14 to August 17, 2023.

ABOUT RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

SOURCE RBC