Be on guard as you may become a target of a fraud

Fraud has been a longtime reality affecting consumers. But an increasingly digital world is bringing more sophisticated and personalized scams. Spotting fraud is a growing challenge due to the diversity of channels and advanced fraud methods.

“The reality is that with continued technology innovations, fraudsters are constantly evolving their techniques to target Canadians,” says Juan Sebastian D’Achiardi, regional president of TransUnion Canada.

Data from TransUnion shows 46 per cent of Canadians reported being targeted with fraud attempts via email, online, phone call or text messaging over just a four-month period in 2025.

Even though Canadians are increasingly aware of fraud risks, they remain highly vulnerable. A major reason is that fraudsters have moved towards a more targeted form of deception – one that takes advantage of human behaviour.

By exploiting emotions, scammers lure consumers to provide access, take improper actions and fall victim to what’s known as push scams. These are among the fastest-growing threats facing consumers today.

It often begins with impersonation. To build credibility, fraudsters pose as trusted institutions or individuals, such as banks, government agencies and even family members. Then, they manipulate consumers into sending money or sharing sensitive information, including passwords and credentials.

Scammers add a strong sense of urgency, convincing people to act quickly. Unfortunately, victims believe they’re doing the right thing, when in fact they’ve been deceived into granting access to their accounts and/or sensitive information.

In contrast to pull fraud schemes – where money is taken without the consumer’s knowledge, such as through unauthorized account takeover – push frauds are more challenging to contain.

“Most traditional fraud controls are designed to stop unauthorized activity by third parties. However, when someone gets deceived into taking action or providing sensitive information, it becomes harder to stop. The activity appears legitimate because it’s initiated by the consumer,” says Mr. D’Achiardi.

Several factors are driving the rise of scams, including credential reuse (the practice of having the same email, username, and password across multiple accounts) and sharing personal information on social media.

Technology works both ways. It has enabled widespread access to data and information but has also increased exposure and made it easier for fraudsters to broaden their reach. They’re leveraging automation, impersonation tools and spoofed phone numbers, to go after consumers through multiple channels like email, texts, calls and social media.

While younger Canadians may be exposed to more digital payment scams because they’re often online, anyone can be victimized. Fraudsters often target seniors and small business owners, as well as prey on people during times of transition like moving, starting a new job or school, or immigrating.

The targets and forms of consumer fraud may differ, but the tactics are familiar. “Scams are designed to bypass rational thinking by using pressure, authority and urgency to deceive consumers,” says Mr. D’Achiardi.

He urges Canadians to watch for warning signs such as urgent requests to move money, unusual payment demands, threats requiring immediate action, instructions to keep the interaction secret or avoid contacting your financial institution, and any request to share one-time passcodes. The same goes for messages that look almost genuine but have small errors, or that come from unfamiliar email addresses, contacts or phone numbers.

“The most effective step to avoid scams is to pause and rethink if you have even the slightest concern about the legitimacy of something,” says Mr. D’Achiardi. “If something doesn’t sound or feel right, it probably isn’t.”

Verifying messages is key to keeping your personal information safe and secure. He says Canadians should rely on trusted channels that they’ve initiated, such as official apps, bookmarked websites or phone numbers found on statements or bank cards. A best practice is to never rely on links or contact details provided in an unexpected message, email or telephone call.

TransUnion Canada also provides protection tools that Canadians can leverage. This includes fraud alerts to help stop unauthorized credit applications, credit monitoring with alerts on suspicious credit activity, and educational resources on identity theft.

While prevention steps matter, Mr. D’Achiardi says consumers who do suspect fraud should contact their financial institutions immediately, secure their accounts and monitor their credit report. “Acting quickly can significantly limit damage.”