{"id":2193,"date":"2026-08-03T03:23:58","date_gmt":"2026-08-03T03:23:58","guid":{"rendered":"https:\/\/futureknowledge.in\/?p=2193"},"modified":"2026-08-03T03:23:58","modified_gmt":"2026-08-03T03:23:58","slug":"posthaste-confident-you-can-detect-fraud-that-may-put-you-at-risk","status":"publish","type":"post","link":"https:\/\/futureknowledge.in\/?p=2193","title":{"rendered":"Posthaste: Confident you can detect fraud? That may put you at risk"},"content":{"rendered":"

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Canadians are growing increasingly confident in their ability to detect fraud, but their hubris may be putting them at risk. <\/p>\n

Nearly 90 per cent of Canadians are confident they can spot fraudulent activity, according to a recent survey from Toronto-Dominion Bank,<\/a> but 41 per cent of respondents said they never consult resources or experts on fraud prevention. <\/p>\n

At the same time, 24 per cent of Canadians indicate that they or a family member has been the victim of fraud within the past year. <\/p>\n

\u201cConfidence can be a double-edged sword when it comes to fraud prevention,\u201d Tarundeep Dhot, vice president of fraud management at TD, said in a news release. <\/p>\n

\u201cWhile it\u2019s encouraging that Canadians feel aware, overconfidence can sometimes lead to quick decisions or overlooked warning signs that scammers rely on. Bad actors are counting on people moving quickly or assuming they\u2019re not at risk.\u201d <\/p>\n

Business owners are equally self-assured. Eighty-eight per cent of respondents are confident<\/span> in their ability to spot fraud impacting their business, while 76 per cent said they have safeguards in place to protect themselves. <\/p>\n

Still, 49 per cent of business owners have been the victim of a fraud attempt in the last year. <\/p>\n

As of June 30, Canadians have lost $351 million to fraud across 9,935 victims this year, according to the Canadian Anti-Fraud Centre.<\/a> In 2025, Canadians lost $704 million to fraud. <\/p>\n

Despite their confidence in detecting fraud, more than half of Canadians admit to behaviours that would make them susceptible to it, such as opening email attachments from unknown senders or accessing financial information on public Wi-Fi. <\/p>\n

Younger Canadians are the most adept at detecting fraud and are largely willing to help a family member, but generation Z is also the most likely to click a suspicious link, the report found. <\/p>\n

\u201cYounger Canadians are often seen as tech savvy, and many are taking on the role of helping others navigate fraud risks,\u201d Dhot said. \u201cBut digital literacy alone isn\u2019t enough. Staying safe requires ongoing awareness, conversations and a willingness to pause and verify \u2014 even when something appears to be familiar.\u201d <\/p>\n

TD Bank recommends slowing down before making a decision, avoiding public Wi-Fi, regularly discussing fraud with loved ones and avoiding clicking on links or downloading files from suspicious texts or emails. <\/p>\n

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Ford Motor Co.\u2019s raised its outlook on Tuesday as consumers snap up the automakers line of SUVs. <\/p>\n

The company is also looking to scale back its EV operations and plans to invest US$2 billion in its new energy storage business. <\/p>\n

This comes as auto sales in the U.S. were down 10 per cent in the second quarter. <\/p>\n

Ford\u2019s stock is up 14 per cent this year, beating the S&P 500. <\/p>\n

Read more here.<\/a> <\/p>\n

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