– personality fraud fuels up a sharp increase in cases of credit cards –
– Equifax Canada Market Trends Trends and Insights Trends –
Toronto, October 01, 2025 (Globe Newswire) – a report on fraud and understanding of fraud with the Equifax market Canada in the first half of 2025 shows a sharp increase in fraud with credit cards, even despite the fact that the overall indicators of fraud with applications throughout Canada fell to the lowest point from the 3rd quarter of 2022.
On a national scale, the fraud rates with statements decreased to 0.56 percent in the second quarter of 2025, compared with 0.70 percent in the previous quarter and 0.57 percent a year ago. This broad decline reflects the mitigation of consumer demand for credit products, more stringent loan standards and a cooling Canadian economy. Nevertheless, a decrease can also mask the tendency to anxiety, since credit cards fraud diverged sharply in the second quarter, while fraud indicators increased to 0.75 percent compared to 0.44 % a year earlier, despite the decrease in the use of 1.4 percent.
“Fraudsters are no longer aimed at specific consumer groups, it seems that recently it has been impressing the credit spectrum without analysis,” said Karl Davis, head of the fraud and personality department at Equifax Canada. “Soon, fraud with credit cards arises and requires vigilance from creditors, politicians and consumers.”
Credit cards fraud expenses
Third -party fraud currently leads to the fact that 83 percent of all fraudulent activities in the credit card sector, and the fraud with identity is 78 percent of these cases. The data indicate that scammers are increasingly aimed at Canadians of middle -aged, while the sharpest increase observed in Ontario and Atlantic Canada, in regions where the crime rate has increased above the pre -namic level.
“Credit cards remain the central point of vulnerability – this is one of the areas in which scammers quickly adapt, using both gaps and economic uncertainty among consumers,” added Cherol Prince, Director of Fraud at Equifax Canada. “Despite the fact that other products of the products demonstrate mitigation, the growth of fraud with credit cards emphasizes the urgency of investment in a stronger personality verification, the joint use of data and intersectoral cooperation.”
Constant threats of fraud
The first side fraud, often related to distortion of financial circumstances, is seven percent higher than a year ago. Outside of the credit cards sector, the fraud of third parties was reduced on a quarterly and annually, and theft of personal data continues to stimulate most of the fraudulent activities.
Automatic fraud decreased to 0.23 percent from 0.26 percent a year ago, while fraud with banking and deposits decreased from 1.09 percent to 0.70 percent per period. Fraud among owners who are not marine loans (a group that includes future buyers) amounted to 0.22 percent compared to 0.16 % for mortgage holders, which indicates that tenants and customers of housing must have additional caution.
Falsified documents for growth
While fraud with a mortgage decreased to 0.19 percent in the second quarter of 2025, compared with 0.29 % a year earlier, distortion of financial circumstances, often in the form of falsified documents, continues to be the main source of fraud. This is especially common in fraud with a mortgage, where forged income and labor documents led to more than 75 percent of cases of fraud. Fraud with income and employment is also a serious problem in the automobile sector, where it is about 30 percent of cases of fraud.
“When we look into the future, we usually see seasonal bursts of fraud by the end of the year. Knowing this, we urge Canadians to visit the educational center of fraud and theft of personality Web Sit Equifax To learn more about the actions that they can take to help protect themselves and their families from theft of personal data and fraud, ”concludes Davis.
About Equifax
In Equifax (NYSE: EFX), we believe that knowledge stimulates progress. As a global company, analytics and technological company, we play an important role in the world economy, helping financial institutions, companies, employers and state institutions make important decisions with more confidence. Our unique mixture of differentiated data, analysts and cloud technologies gives an idea of the authorities to advance people forward. Almost 15,000 employees around the world are supported with the headquarters in Atlanta, Equifax manages or has investments in 24 countries in North America, Central and South America, Europe and the Asia -Tikhoocaan region. To receive additional information, visit Equifax.caField
Contact:
Andrew Findletter
Choose public relations
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(647) 444-1197
Angie Andich
Equifax Canada Media Relations
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