The Canadian Anti-Fraud Centre (CAFC) registered more than 10,000 mass marketing fraud complaints in the first half of 2017. These complaints cost Canadians more than $38 million.
ID theft cost another $5.5 million and affected more than 16,000 Canadians, according to the CAFC. The Centre estimates that these statistics, reported to it directly by citizens, represent only about five per cent of actual fraud losses.
Consumers and the small businesses they interact with can fall victim to various types of fraud, including credit card fraud. In credit card fraud scenarios, criminals steal someone’s credit card details and impersonate them with it.
Read more at Business Financial Post
