Younger Canadians have become the largest cohort to suffer from a fraud incident, a CPA Canada survey has revealed.
Canadians aged 18 to 34 accounted for 63 per cent of those who have suffered from a fraud incident at least once in their lifetime in comparison to those aged 35 to 53 and those over 55 , tOne reason the younger demographic is being targeted is due to their online financial exposure, the survey said.
The younger age group is also twice as likely to make large purchases online in comparison to those aged 55 and older , the survey found. Less than half of respondents said they use email or text alerts to get updates on their financial transactions, which the survey said would help alert them of fraudulent activity sooner.
The leading fraud activity was credit card fraud , followed by email or phishing fraud and debit card fraud , the data found.
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