Canadians concerned about identity theft - study

Additional findings of the CPA Canada report have revealed that 66% of the respondents agree that they are concerned about identity theft but the number is down from 74% in 2016. Still, 72% of the survey participants agree that Canadian businesses are doing the best they can to safeguard the personal information of their customers, up from 66 % in 2016.

A majority of respondents (71%) agree that they are concerned that electronic payment methods, such as tapping debit and credit cards or using smartphone apps to make payments, actually makes fraud easier.

In addition, 43% of those surveyed in 2017 either strongly or somewhat agree that they are uncomfortable when making online purchases.

In terms of experiencing financial fraud, 32 % of the respondents reported they had been a victim at some point in their lives, almost unchanged from 2016 (33 %). Among those who reported being a victim of financial fraud, credit card fraud had the highest incidence rate (74 %) followed by debit card fraud (28 %). Those were the top two forms of fraud cited in 2016 as well.

However, for the second straight year, 73 % of the respondents agree that they are concerned that Canadian businesses are vulnerable to cyberattacks regarding personal information.