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One in three Canadians falling victim to financial fraud: TD

Last Updated Mar 5, 2019 at 8:17 am PDT

(iStock Photo)

VANCOUVER (NEWS 1130) – It seems four in 10 Canadians aren’t protecting themselves properly online; new numbers from a TD survey indicate a third of us have fallen victim to financial fraud.

We’re keeping our passwords written in our homes, or storing codes on our phones where hackers can get at them.

People on the streets feel technology, even with its benefits, can bring major risk.

“Hackers can hack into your operating system, and pinpoint within feet of your location,” says one man. “Social media plays a large part in it, right? It makes it easy to look up other people’s information online.”

RELATED: West Vancouver senior scammed out of $800,000

And some acknowledge they do write down their passwords, but find it a bit overwhelming trying to remember so many complicated codes.

“A lot of the computer companies are making it that you need larger passwords which are harder to remember,” acknowledges another man.

Still, this survey from TD finds that many of us are confident in our ability to protect ourselves, with 59 per cent replying that we know how to protect ourselves but have concerns about older family members.

There are also generational differences in terms of what kind of fraud we’re worried about. Nearly half of seniors who participated are most concerned about identity theft, while millennials are primarily concerned (39 per cent) about having their cash stolen.

This comes as the Insurance Bureau of Canada also warns people to be on guard about medical services fraud.