2024 Digital Banking Fraud Trends in Canada
BioCatch’s 2024 Digital Banking Fraud Trends in Canada report highlights the most prevalent types of fraud and financial crime plaguing the nation’s financial institutions in 2024.
In this report, you’ll discover:
• Cases are down, losses are up: In 2024, Canadian banks have seen just 34% of the reported fraud cases they experienced a year ago. And yet, Canadians appear on pace to lose as much as or more than the $569 million they lost to fraud in 2023.
• Majority of victims not elderly: Most Canadian fraud victims are now ages 20-49 instead of 50-89, debunking the common misconception that older people provide easier and more lucrative targets.
• Remote access tools (RAT) still a problem: One in seven fraud cases in Canada involves RATs, which fraudsters use to take control of victim sessions to execute scams.
Download now and fortify your defenses against fraudsters with BioCatch’s insights on the ever-evolving world of fraud and financial crime in Canada.