A majority of Canadians believe that talking openly about fraud could reduce their risk of being targeted, but relatively few are having those conversations, according to a new survey by TD Bank Group.
The survey found that 62 per cent of respondents said regular family discussions about scams would make them feel less vulnerable, yet only 23 per cent reported that such conversations happen consistently.
The findings point to a gap between awareness and action when it comes to fraud prevention, suggesting that while Canadians recognize the risks, many are not translating that awareness into routine discussions with family members.
The survey also highlights generational differences. More than half of Gen Z respondents — 52 per cent — said they would feel too embarrassed to share their own experiences with fraud, compared with 28 per cent of Canadians overall. At the same time, 75 per cent of Gen Z respondents said open family discussions would help them feel less vulnerable.
“Talking openly about fraud can help remove stigma and empower more Canadians to spot scams earlier. Even simple conversations can help to build the awareness and confidence to take action when facing a suspicious situation,” said Tarundeep Dhot, vice-president of fraud management at TD.
Tarundeep Dhot
“Canadians don’t have to navigate fraud risks alone. Sharing experiences and tips with people you trust can be a powerful way to stay one step ahead of scammers.”
TD said the results underscore the role of communication in strengthening financial awareness and resilience, particularly as fraud tactics become more sophisticated and harder to detect.
The bank is encouraging Canadians to incorporate fraud prevention into everyday conversations as a way to normalize the topic and reduce stigma associated with being scammed.
The survey also included guidance on fraud prevention, emphasizing the importance of vigilance when dealing with unsolicited requests. It advised consumers to pause before acting, verify the identity of those requesting information, avoid clicking on unknown links, and monitor financial accounts regularly for suspicious activity.
The findings suggest that reluctance to discuss fraud may stem in part from embarrassment or a belief that victims should have recognized the scam. TD noted that such perceptions can discourage people from sharing their experiences, even as fraud schemes become increasingly complex.
The survey suggests that starting simple, judgement-free conversations about suspicious calls, texts or emails could help make fraud awareness a more routine part of family discussions.
It also advises that individuals who believe they have been victims of fraud should contact their financial institution immediately and report the incident to the appropriate authorities, noting that quick action can help limit losses and potentially prevent similar incidents.
The survey was conducted by Léger between Dec. 18, 2025, and Jan. 5, 2026, and included a nationally representative sample of 1,517 Canadian adults and 262 Canadian business owners. The results were weighted by age, gender and region to align with census data. A probability sample of 1,500 would carry a margin of error of plus or minus 2.5 percentage points, 19 times out of 20.
TD Bank Group, which operates across Canadian and U.S. retail banking, wealth management, insurance and wholesale banking segments, said it sees fraud awareness as a key component of maintaining customer confidence in financial services.
The bank said encouraging more open discussion about fraud could help Canadians better recognize threats and respond more quickly when faced with suspicious activity.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
About Us
Canada’s Entrepreneur is the number one community media platform in Canada for entrepreneurs and business owners. Established in 2016, our podcast team has interviewed over 800 Canadian entrepreneurs from coast-to-coast. With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 250,000 + audio downloads, 50,000 + average monthly social impressions, 15,000 + engaged social followers and 120,000 newsletter subscribers. Canada’s Entrepreneur is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story