News & Perspectives

The majority of Canadians (88%) have been targeted by fraud and 19% have fallen victim to it, a new Scotiabank survey shows. March is Fraud Prevention Month, which serves as a reminder to take steps to protect yourself and your loved ones, such as learning about common scams and reporting suspected fraudulent activity to local law enforcement and your financial institution. We remind our clients that Scotiabank will never ask you to download an app or third-party software or ask for passwords or other confidential information through a phone call, email, text message or enclosed link.

See some key findings from the survey in the infographic below.

Infographic: Scotiabank survey highlights the impact of  financial fraud on Canadians
Infographic: Nearly 9 in 10 (88%)  of Canadians have been targeted by fraud
Infographic: Email and phone call are the most common types of scams
Infographic: More than half  (56%) of Canadians who were targeted did not report it
Infographic: In 2024 alone, Canadians lost $638 million to scams and fraud, according to the Canadian Anti-Fraud Centre
Infographic: Canadians ages 18-34 (33%) and  Quebec residents (24%) are the most  likely to have fallen victim to a scam. Younger Canadians are more susceptible to social media scams (10%). Quebec residents more likely to experience credit card scams (8%).
Infographic: Canadians ages 55+ are least likely  to implement fraud prevention  measures, and more frequently  targeted by credit card scams
Infographic: With the growth of  AI, 94% of Canadians  are concerned that it will  result in more sophisticated  financial fraud scams

Methodology: These are some of the findings released by Maru Public Opinion from a survey undertaken between January 28th and 30th, 2025, by the sample and data management experts at Maru/Blue. The survey was of 3,055 randomly selected Canadian adults who are Maru Voice Canada online panelists. For comparison purposes, a probability sample of 3,055 has an estimated margin of error (which measures sampling variability) of ± 1.8%, 19 times out of 20.