Majority believe AI is enabling fraudsters to create highly convincing scams faster than ever
Fraud in Canada is starting to look and feel like day‑to‑day life – and that shift is undermining confidence in routine financial interactions.
New survey findings from Interac Corp. (Interac) show that nearly eight in 10 Canadians (79 percent) believe artificial intelligence (AI) is enabling fraudsters to create highly convincing scams faster than ever by capitalizing on breaking news and current events, making it harder to distinguish legitimate messages from fraud.
This change is emerging across ordinary decisions, including how people respond to messages from financial institutions, where they shop and how they manage cross‑border activity.
Scams appear most effective when they latch onto uncertainty.
In the past six months, nearly six in 10 Canadians (58 percent) say they have experienced a tariff‑related scam.
These attempts include messages about packages being held or delayed, requests for customs or import fees and customs impersonation calls.
More than half of Canadians (58 percent) believe scammers are actively exploiting uncertainty around trade rules between Canada and the United States.
Fraudsters are also leaning into cost‑of‑living concerns.
A quarter of Canadians (24 percent) say they have noticed more scam attempts over the same period that reference rising cost‑of‑living pressures, such as overdue bill notices, utility shutoff threats and offers of government assistance.
Together, these patterns suggest fraud is now tracking the same themes Canadians see in their bills, news feeds and financial obligations, rather than sitting apart from them.
Interac’s latest survey shows “fraudsters are moving faster and tracking the news cycle to make phishing, impersonation and investment scams seem legitimate,” and that the warning signs Canadians once relied on are now “less clear” in everyday digital interactions, said Mark Hines, head of Product, Fraud, at Interac.
Canadians are also losing faith in traditional red flags.
Two‑thirds (66 percent) say cues such as spelling mistakes or poor formatting are no longer dependable indicators of fraud.
That erosion of confidence reaches into exchanges with established providers: more than half of Canadians (53 percent) say they have doubted legitimate messages from trusted organizations, including telecommunications providers and financial institutions, because scam attempts have become so convincing.
People are reacting by tightening their behaviour.
Nearly half are more careful about deals (48 percent) and are avoiding unfamiliar retailers (47 percent).
Nearly a quarter (23 percent) say they have reduced their cross‑border purchases in response to concern about fraud, and one in three (33 percent) now prioritizes Canadian websites over international ones.
These shifts point to more cautious day‑to‑day decision making and changes in where Canadians place their trust.
Despite these adjustments, many do not feel adequately protected. Less than a third (31 percent) believe their current fraud prevention practices are sufficient.
If compromised, nearly two thirds of Canadians (63 percent) say they would feel regret for not doing more to protect themselves.
Hines said the research highlights “the emotional toll of navigating a fraud landscape that increasingly mirrors real life” and that Interac is working with financial institutions to improve fraud prevention across account-based payments.
