Survey: 86% of Canadians believe they are increasingly at risk of identity fraud

A survey conducted on behalf of Mogo Finance Technology has found that although many Canadians are aware of the risk of identity theft, only a few have taken precautions.

Maru/Blue conducted the online survey in June 2018 for Mogo; 1,514 Canadian adults were randomly selected to participate. The findings of the survey are as follows:

• 86% of Canadians believe that they are increasingly at risk of identity theft and identity fraud.
• Contrary to the finding above, only 24% of participants said that they have some form of identity fraud protection solution.
• 85% of Canadians believe that if they fall victim to identity theft or fraud, it will have an impact on their financial life.
• 35% of those surveyed said they know someone who has been a victim of identity fraud.

“As the world continues to move digital, we are seeing data breaches in the news almost weekly, putting every Canadian increasingly at risk of identity fraud,” commented Mogo founder and CEO David Feller. “We believe every Canadian needs a solution to proactively watch for signs of suspicious activity and unexpected inquiries into their credit bureau as the consequences of identity fraud – financial losses, reduced creditworthiness – can be so severe and can take years to resolve.”

Related stories:
Canadian businesses at high risk of data breaches - report
Beazley expects heightened awareness of cyber insurance