Canadians feel more vulnerable to AI-powered fraud as scams grow harder to spot. Are you at risk?

“It’s vital for Canadians to remember that longstanding fraud prevention tips remain as effective today as ever before,” said Sophia Leung, executive vice president, Protect Platform at TD, in a statement.

"Don't respond to unsolicited communications, simply block and report them whenever possible. And always use secure networks. These simple actions can make a meaningful difference and significantly reduce risk."

Risky habits die hard

The anxiety around financial fraud isn’t unfounded. Nearly one in four Canadians (24%) say they, or a family member, have been victims of financial fraud or a scam in the past year.

Yet even as awareness grows, many Canadians admit to behaviours that increase their exposure. More than half (52%) of respondents say they engaged in at least one risky digital habit in 2025.

That includes:

• 18% using public Wi-Fi to access personal or financial accounts
• 15% opening attachments from unknown senders
• 15% clicking links in texts or emails before verifying the source
• 13% engaging with questionable online offers
• 11% downloading apps or software from unfamiliar sources

At the same time, education remains inconsistent. Forty-one percent of Canadians say they never seek out fraud prevention resources, and another 42% do so only occasionally.

Businesses also feeling exposed

The concern also extends beyond households. Two-thirds (66%) of Canadian business owners surveyed say they feel more exposed to fraud than in previous years, and 61% see AI-driven crime as a major threat. Nearly half (46%) say they endured at least one attempted fraud or scam in the past year.

“Business owners are concerned about fraudsters accessing their customer data as they leverage technological advancements,” said Sherry Kalantari, senior manager, Business Banking Fraud Prevention and Education at TD, in a statement. ”To stay one step ahead of bad actors, Canadian business owners should continue to review and boost their security protocols while keeping up with the latest fraud trends and how to combat them."

What consumers can do now

While fraud tactics are always evolving, basic fraud prevention habits don’t change. Experts continue to recommend:

• Avoiding unsolicited texts, emails and calls
• Verifying sender identities before clicking links or sharing information
• Monitoring financial accounts regularly for unusual activity
• Using secure networks and enabling multi-factor authentication on your devices

It also helps to be familiar with official anti-fraud resources, such as the Canadian Anti-Fraud Centre, which regularly publishes updates on emerging scams and provides guidance on reporting fraud.

As AI tools become more widely available to scammers, staying cautious online and double-checking before you click can go a long way toward protecting your money.