Atlantic Canadians believe open conversations about fraud will prevent it: study

Data shows many people feel more conversations about scams are needed.

A new survey by TD Bank found more than half of Atlantic Canadians believe having open conversations about fraud could help prevent scams and protect their finances.

“We’re kind of in that digital age where these scammers now have these AI tools available to them. They can write emails, text messages and even use it to make place phone calls,” says Kevin Wicks, a TD fraud education group manager.

“Fifty-seven per cent (of Atlantic Canadians) say they would feel less vulnerable if their families talked openly about fraud and scams and shared knowledge.”

The data shows 62 per cent say regular conversations about it would make them feel less vulnerable.

But only 18 per cent are having regular conversations with their loved ones about fraud and scams – the lowest proportion across Canada.

“About one third of Atlantic Canadians say they’d feel too embarrassed to tell anyone if they’ve been scammed. And only 27 per cent say they’ve avoided talking about their experiences altogether. So there’s a bit of hesitation there,” says Wicks.

He adds that Gen Z is even more reluctant to talk about it.

“They’re kind of looked at as the generation that should know better. They’re connected online. They’re on social media. They’re seeing these things potentially on a daily basis…they feel the embarrassment might even be stronger there with them because the expectation is a little bit higher.”

Especially with how sophisticated fraudsters have become, some Haligonians agree having the conversation with family and loved ones is needed now more than ever.

“The more people know, the more they’re able to protect themselves against it and take some measures to make sure it doesn’t happen again or it doesn’t happen to them,” says Iasan O’Neill.