Gen Z most likely to shy away from talking about fraud experiences at home despite being most targeted, reveals TD

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Gen Z most likely to shy away from talking about fraud experiences at home despite being most targeted, reveals TD /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntac{ TEXT-ALIGN: CENTER } Canada NewsWire 92 per cent of surveyed Canadians feel they can better arm themselves and their family against financial fraud and scams by having open discussions with family members. TORONTO , Feb. 18, 2025 /CNW/ - With Canadian Anti Fraud Centre (CAFC) reporting over $630 million lost to fraud in 2024 alone, Canadians are facing increased challenges as they grapple with a heightened cost of living and more sophisticated financial fraud attempts. Ahead of Fraud Prevention Month in March, a new TD survey has revealed that Gen Z is most likely to shy away from talking about fraud experiences at home, despite being the most targeted. With nearly a third of surveyed respondents (29 per cent) expressing that they have or would shy away from talking about fraud experiences at home, Gen Z respondents stood out, as 51 per cent indicated their apprehension to speak out to family, compared to 39 per cent of Millennials and 23 per cent of Gen X. Interestingly, 45 per cent of Gen Z respondents say they have been the victim of a financial fraud or scam attempt, compared to 34 per cent of Millennials and 26 per cent of Gen X. Whether out of embarrassment or a lack of proper education around fraud , avoiding these conversations can make detecting fraud more challenging for Canadians. When it comes to staying better protected, however, 92 per cent of surveyed respondents agree that identifying scams can be easier when all family members are involved in discussions around fraud prevention, highlighting the value that open conversations can have. Fighting fraud together While nearly half of surveyed respondents (46 per cent) reported feeling vulnerable about being a target of financial fraud , only one in five (20 per cent) say they are extremely confident in their ability to identify fraud or scams. Despite these concerns, conversations about fraud prevention remain infrequent within Canadian households, as 73 per cent of respondents admit they do not discuss or educ...

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