{"id":813867,"date":"2025-02-18T06:06:46","date_gmt":"2025-02-18T11:06:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gen-z-most-likely-to-shy-away-from-talking-about-fraud-experiences-at-home-despite-being-most-targeted-reveals-td\/"},"modified":"2025-02-18T06:06:46","modified_gmt":"2025-02-18T11:06:46","slug":"gen-z-most-likely-to-shy-away-from-talking-about-fraud-experiences-at-home-despite-being-most-targeted-reveals-td","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gen-z-most-likely-to-shy-away-from-talking-about-fraud-experiences-at-home-despite-being-most-targeted-reveals-td\/","title":{"rendered":"Gen Z most likely to shy away from talking about fraud experiences at home despite being most targeted, reveals TD"},"content":{"rendered":"
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Canada NewsWire<\/p>\n<\/p><\/div>\n

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\n 92 per cent of surveyed Canadians feel they can better arm themselves and their family against financial fraud<\/span> and scams by having open discussions with family members.<\/i>\n <\/p>\n

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\n TORONTO<\/span>
\n <\/span>, Feb. 18, 2025<\/span><\/span> \/CNW\/ – With Canadian Anti Fraud<\/span> Centre (CAFC) reporting over $630 million<\/span> lost to fraud<\/span> in 2024 alone, Canadians are facing increased challenges as they grapple with a heightened cost of living and more sophisticated financial fraud<\/span> attempts. Ahead of Fraud<\/span> Prevention Month in March, a new TD survey has revealed that Gen Z is most likely to shy away from talking about fraud<\/span> experiences at home, despite being the most targeted.<\/p>\n

With nearly a third of surveyed respondents (29 per cent) expressing that they have or would shy away from talking about fraud<\/span> 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<\/span> 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<\/span>, avoiding these conversations can make detecting fraud<\/span> more challenging for Canadians.<\/p>\n

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<\/span> prevention, highlighting the value that open conversations can have.<\/p>\n

\n Fighting fraud<\/span> together<\/b>\n <\/p>\n

While nearly half of surveyed respondents (46 per cent) reported feeling vulnerable about being a target of financial fraud<\/span>, only one in five (20 per cent) say they are extremely confident in their ability to identify fraud<\/span> or scams. Despite these concerns, conversations about fraud<\/span> prevention remain infrequent within Canadian households, as 73 per cent of respondents admit they do not discuss or educate their family on financial safety and fraud<\/span> prevention, highlighting a potential gap in awareness and preparedness.<\/p>\n

Interestingly, 60 per cent of surveyed respondents say they would feel like less of a target for financial fraud<\/span> if their family members regularly discussed scams and shared knowledge. Younger generations are particularly inclined to believe in the power of these conversations, with 73 per cent of Gen Z and 68 per cent of Millennials agreeing, compared to 52 per cent of Gen X.<\/p>\n

“Our survey found that one third of Canadians avoided falling victim to a financial fraud<\/span> attempt by talking to their families,” said Sophia Leung<\/span>, Executive Vice President, Protect Platform at TD. “Younger Canadians seem reluctant to share their experiences with fraud<\/span>, but they also value open dialogue, so it’s important for families to start the conversation and continually check in to help each other stay informed about potential fraud<\/span> and scams.”<\/p>\n

\n What Canadians worry about<\/b>\n <\/p>\n

As Canadians consider the dangers of financial fraud<\/span> and scams, 93 per cent believe that fraud<\/span> and fraud<\/span> attempts will increase in the next year.<\/p>\n

When asked what would worry them most if a family member fell victim to financial fraud<\/span>, the survey found that:<\/p>\n