Fraud fatigue: Have you caught it?

What is fraud fatigue?

These responses are signs of fraud fatigue. Despite being aware of the danger of online and telephone fraud, people may start to ignore security alerts, assume every warning is the same, delay updating passwords or reviewing accounts, and feel there’s little they can ultimately do to protect themselves.

Consumers are showing signs of fatigue. “Fraud seems to have become a constant presence in Canadians’ lives,” says Julie Kuzmic, Head of Consumer Advocacy and Compliance for Equifax Canada. “People are exposed to scams so frequently that many are becoming desensitized, yet the risks remain very real. New technologies can also make fraud more sophisticated and harder to detect, reinforcing the need for continued awareness, stronger protections, and shared responsibility across sectors.”

Fraud fatigue undermines efforts to fight digital crime. Letting down your guard increases the chance you will be victimized in the future.

Why fraud keeps changing

A big contributor to fraud fatigue comes from the feeling that fraudsters will forever be one step ahead. Like legitimate businesses, criminals compete with each other to take advantage of people and organizations. They adapt their tactics to counter security measures by technology providers and the actions of law enforcement agencies. Scams evolve because criminals keep adapting—following whatever works, until it doesn’t.

Fraudsters also have access to new tools such as artificial intelligence (AI), which can enable them to imitate trusted organizations like banks, courier companies, employers, or government agencies in seconds and at very little cost. Phishing emails, fake websites, and voice impersonation are more convincing now than ever before.

How to stay protected without becoming overwhelmed

Devoting sufficient attention to online security means knowing when to pay attention. Not every notification deserves equal attention, but these are red flags you shouldn’t ignore:

• Unexpected credit inquiries
• Alerts about changes to your credit file
• Login notifications from unfamiliar devices
• Password reset notices you didn’t request
• Messages claiming urgent payment or account suspension
  

There are also basic steps you can take to prevent fraud.

• Always pause before responding to an unexpected or unfamiliar message. 
• Ask yourself if something about it feels off
• Don’t be goaded into action by the urgency conveyed by the person or organization contacting you; that’s often an indicator of nefarious intent.
• Set up or maintain basic protection features such as strong passwords, biometric or multi-factor authentication to access sensitive accounts or devices, and fraud or transaction alerts on your financial accounts. 
• And stay informed about digital fraud. 
  

If an organization you deal with or someone you know has their information compromised, try to determine your exposure and respond accordingly. 

Article Continues Below Advertisement

Skip Ad

X

Think of digital fraud as the price of the time and labour-saving conveniences we enjoy in the information age, from instantaneous payments and messaging to online shopping and home delivery. It’s not going to disappear or get easier, so it’s important to make the effort to deter this form of crime.

Need help? Try Equifax Complete Protection

Equifax Complete Protection is a multi-faceted subscription service that can help shoulder the burden of keeping you and your family safe from online fraud. For just $34.95 a month, it offers:

• Social media monitoring, device protection, parental controls, VPN, and password manager
• Dark web monitoring to alert you if your information is found on the dark web
• Credit alerts to help you detect fraud faster
• ID restoration services and insurance to help you recover from identity theft (insurance is not available for new product purchases in Quebec)

Read more about fraud and scams:

• Synthetic identity fraud: The scam that’s fooling lenders
• Why scammers are counting on Canadians to have fraud fatigue
• Canadians are confident they can spot scams, but should they be?
• Why digital and virtual credit cards are safer than the real thing

About Michael McCullough

Michael is a financial writer and editor in Duncan, B.C. He’s a former managing editor of Canadian Business and editorial director of Canada Wide Media. He also writes for The Globe and Mail and BCBusiness.

Linkedin Twitter