Analysisdeepfakesidentity theftfraud
Canadians Face Rising Identity Theft Losses
8.0
In 2024, Canadians lost $638 million to fraud, the Canadian Anti-Fraud Centre (CAFC) reports, $60 million more than 2023 and likely underreported. Identity fraud is the most reported type, and fraudsters increasingly use AI-generated deepfakes and mass-targeting; MoneySense has launched a how-to resource series to help consumers protect accounts and recover.
Key Points
- 1Report shows Canadians lost $638 million to fraud in 2024, per Canadian Anti-Fraud Centre
- 2Explains fraudsters increasingly use AI deepfakes and mass-targeting to create more convincing scams
- 3Advises practitioners and consumers to adopt email, password, MFA and monitoring defenses immediately
Scoring Rationale
Official CAFC data and actionable guidance drive score, limited by mostly consumer-focused reporting and regional scope.
Sources
Public references used for this report.
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