Business
Younger Canadians most confident in spotting AI-scams are also most likely to fall for fraud
Younger Canadians most confident in spotting AI-scams are also most likely to fall for fraud ...
About this update from Bank Of Nova Scotia
[{"type":"text","content":"\n\n\nYounger Canadians most confident in spotting AI-scams are also most likely to fall for fraud\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCanada NewsWire\n\n\n79% of young Canadians know how to identify fraud, but 82% worry AI will result in more sophisticated financial scamsTORONTO, March 6, 2026 /CNW/ - Most young Canadians believe they're able to spot AI-generated fraud, but despite this confidence they are also the most susceptible to falling victim.\n\n\n\n\n\n\n\nAccording to a new Scotiabank Fraud Awareness Poll, Canadians aged 18-34 are most confident (76%) among all age groups in their ability to identify AI-generated scams. However, younger Canadians are also most vulnerable, with nearly one-in-three (29%) saying they fell for a scam in the past year.Social media and email scams topped the list, suggesting that fraudsters are developing new channels to target younger, more digitally-connected generations.The findings support a growing trend in Canada: despite perceptions that seniors are the most vulnerable to financial fraud, younger Canadians are increasingly falling victim. And as advancements in AI lead to a rise in deepfakes, Canadians of all ages are concerned about what tomorrow could bring, with 90% expressing fear that AI will create more sophisticated financial fraud that is harder to detect.Amid these concerns, half (50%) of Canadians say they rely on their financial institutions for fraud prevention resources. As fraudsters increasingly target all ages, it's imperative that Canadians turn to their financial institutions even more as their key partner for fraud education and resources.\"As fraudsters leverage AI to create more convincing scams than ever before, there is an opportunity for financial institutions like Scotiabank to continue to educate Canadians on how to spot scams, practice safe banking habits and take steps for added protection,\" says Tammy McKinnon, Senior Vice President of Global Fraud Management, Scotiabank. \"Fraud is increasingly impacting younger Canadians, and it is importan...