Most Canadians Say Talking About Fraud Is Key to Reducing Risk and Breaking Stigma, TD Survey Finds

Most Canadians Say Talking About Fraud Is Key to Reducing Risk and Breaking Stigma, TD Survey Finds

62% believe open conversations could help reduce fraud risk, yet only 23% regularly talk about scams with family

TORONTO, June 8, 2026 /CNW/ - Many Canadians say they believe talking openly about fraud could help prevent scams and protect their finances, yet most aren't having these conversations, according to a TD survey.

Key findings from this TD survey:

• 62% of Canadians polled say regular family conversations about scams would make them feel less vulnerable to fraud.
• Only 23% report these conversations happen consistently.
• 52% of Gen Z say they would feel too embarrassed to share their own fraud experiences, while 28% of Canadians overall say the same, highlighting a larger stigma gap among younger Canadians.
• 75% of Gen Z say open family discussions would help them feel less vulnerable to fraud

The results highlight a gap between awareness and action in fraud prevention, as many Canadians understand the risks but don't regularly discuss scams with their loved ones.

"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. "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 encourages Canadians to make fraud prevention part of everyday conversations, helping to build financial confidence and resilience across generations. 

Fraud Prevention FAQs

1. How can I protect myself from financial fraud?
   A tried-and-true way to protect yourself from financial fraud is to pause, verify, and stay alert to unsolicited requests. Avoid clicking unknown links, always confirm who you're dealing with, understand what your bank will never ask you to do, and monitor your accounts regularly to catch suspicious activity early.
   
   
2. Why is talking about fraud important for prevention?
   Talking about fraud can be an effective way to reduce risk because it helps people recognize scams sooner and take action. Shared experiences can build awareness and help reduce risk. According to this TD survey, 62% of Canadians say talking about scams would help them feel less vulnerable, highlighting the importance of sharing experiences and knowledge.
   
   
3. Why do people feel embarrassed to talk about being scammed?
   People may feel embarrassed because they believe they should have spotted the scam. But with fraud becoming more sophisticated, anyone can be targeted. Open conversations can help remove stigma and shift the focus from shame to awareness.
   
   
4. How can families start conversations about scams and fraud?
   Start by bringing up any recent suspicious call, text, or email, and asking how others would respond in that situation. Keeping these discussions simple, judgment-free, and ongoing can help make fraud prevention a natural part of everyday conversations.
   
   
5. What should you do if you've been a victim of fraud?
   If you've been a victim of financial fraud or scam, contact your financial institution immediately and report the incident to the appropriate authorities. Acting quickly can help limit losses and may prevent similar scams from affecting others.

About the TD Survey

This TD survey, conducted by Léger, ran from December 18, 2025 - January 5, 2026, with a nationally representative sample of 1,517 Canadian adults and 262 Canadian business owners. The results have been weighted by age, gender, and region (and in Quebec, language) to match the population, according to Census data. For comparison purposes, a probability sample of 1,500 has an estimated margin of error of ±2.5%, 19 times out of 20.

About TD Bank Group 

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves 28.1 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Banking, including TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 13 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on April 30, 2026. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.

SOURCE TD Bank Group