Canadians Confident They Can Spot Scams, but Cybersecurity Habits Tell a Different Story

According to a new Equifax Canada survey, nearly two-thirds of Canadians have encountered fraudulent messages in the past year, while gaps in online precautions persist

TORONTO, Oct. 27, 2026 (GLOBE NEWSWIRE) -- More than eight in 10 Canadians surveyed (83 per cent) are confident they can distinguish legitimate communications from scams, yet a new Equifax Canada survey* for Cybersecurity Awareness Month reveals significant gaps in how consumers protect their personal information and online accounts.

Nearly two-thirds (65 per cent) of Canadians have encountered at least one type of fraudulent message or online content in the past 12 months. Despite widespread confidence in recognizing scams, only 22 per cent describe themselves as “very confident”, while 61 per cent are “somewhat confident”.

The findings also reveal that just 58 per cent use multi-factor authentication on many of their financial and social media accounts, while 50 per cent use unique passwords for important accounts. More than one in five (22 per cent) admit to reusing the same two or three passwords across multiple accounts. This can be problematic because, if a data breach occurs on one website, reusing passwords allows hackers to break into other accounts using new and powerful automated tools.

"As Canadians are more exposed to fraudulent communications in everyday interactions, recognizing scams has become increasingly challenging," said Octavia Howell, Chief Information Security Officer, Equifax Canada. "While it's encouraging that consumers feel confident identifying suspicious messages, awareness alone isn't enough. Strong passwords, multi-factor authentication and knowing how to respond when something goes wrong are important parts of protecting personal information."

Bank Impersonation and Fake Account Alerts Among Most Common Scams
The survey identifies the types of fraudulent communications Canadians report encountering most frequently over the past year:

• 37 per cent encountered fraudulent emails or texts impersonating Canadian banks or government agencies.
• 36 per cent encountered fake notifications claiming someone had accessed or attempted to access their banking or social media accounts.
• 26 per cent encountered fraudulent investment opportunities.
• 26 per cent encountered fake social media messages or videos impersonating trusted brands or public figures.
• 16 per cent encountered fraudulent job offers.
  

Scam exposure also varies across the country. Nearly three-quarters of British Columbians (75 per cent) report encountering at least one type of fraudulent message or content, compared with 53 per cent in Quebec.

One in Five Young Canadians Surveyed Would Ignore a Data Breach Notification
Despite widespread concerns about identity theft and fraud, the survey also suggests some Canadians may be slow to respond when their personal information is exposed. One in five Canadians aged 18 to 34 (20 per cent) surveyed say they would ignore a notification that their personal information had been compromised unless they noticed suspicious activity, compared with 11 per cent of Canadians aged 55 and older.

Nationally, 14 per cent surveyed say they would take the same wait-and-see approach. While two-thirds (66 per cent) of those surveyed would contact their bank or financial institution following a breach notification, fewer than half (44 per cent) would immediately change the password on the affected account, and just 24 per cent would contact a credit bureau to place a fraud alert.

"One of the biggest mistakes consumers make is assuming that nothing needs to be done until suspicious activity appears," added Howell. "If your personal information has been exposed, it's important to take the notification seriously, secure affected accounts and watch for unusual activity. Taking a few preventive steps can help reduce the risk of identity theft and financial fraud."

Equifax Canada encourages consumers to regularly review their credit reports, use unique passwords and multi-factor authentication, and independently verify unexpected communications before sharing personal or financial information. In addition, consumers can learn more about cybersecurity and how to protect themselves and may want to consider a subscription service such as Equifax Complete Protection.

* The Equifax Canada Cybersecurity and Financial Literacy Omnibus survey was conducted by Leger through its LEO online panel among 1,525 Canadian adults aged 18 and older between October 9 and 11, 2026. A probability sample of this size would have a margin of error of ±2.5 percentage points, 19 times out of 20.

About Equifax
At Equifax, we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

Contact:

Andrew Findlater
SELECT Public Relations
afindlater@selectpr.ca
(647) 444-1197

Angie Andich
Equifax Canada Media Relations
MediaRelationsCanada@equifax.com