Financial fraud continues to evolve; it's more sophisticated, harder to detect, and takes advantage of people's emotions like fear and excitement. According to a recent TD survey, 85 per cent of Canadians worry about themselves or their loved ones becoming a victim of financial fraud. More than one-third (37 per cent) worry that their elderly family members are too trusting, and that their children are unaware of the risks.
"Debit card, credit card and cheque fraud are more common because of sophisticated approaches that target emotion as well as transactions," says Mushtak Najarali, Senior Vice President of Everyday Banking Products at TD Bank Group. "Prevention and protection are key to fighting financial fraud, and so is the relationship between customers and their financial institution. Both parties working together is the best first line of defense to help identify and avoid financial fraud."
Many Canadians know the basics of protecting themselves from financial fraud. Incontinue reading