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Most of us… fail the Interac online fraud survey

Interac Corp. — the people behind your debit card — conducted an online survey and found that 96 per cent of us don’t know the safest course of action when we encounter online fraud, despite seven in ten feeling confident in our ability to detect scams.

But far more disturbing than our collective failing grade is the fact that 44 per cent of millennials believe they are more likely to be attacked by a swarm of bees than lose their life savings to financial fraud. In millennials’ defence, the exact numbers for either scenario are hard to come by. And bees are scary.

The survey results are being released in time for Fraud Prevention Month, and Interac wants to help consumers protect themselves from becoming victims. But a survey by Capital One suggests that consumers are already doing just that.

In a dramatic increase from 2018, 93 per cent of Canadians say they are taking steps to guard against fraud and identity theft. Last year that number was only 53 per cent. Almost 90 per cent Canadians don’t believe large corporations are doing enough to protect our personal information, but about the same number of us don’t have a clear understanding of what steps those corporations are actually taking.

To summarise, when it comes to fraud and identity theft, we are suspicious, over confident, and slightly ignorant. And afraid of bees.