One in Five Canadian Businesses Hit by Payment Fraud, Study Finds
Friday, October 11, 2024
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Posted by: Sierra Lindemann
A new study from Payments Canada reveals that 20% of Canadian businesses have experienced payment fraud in the past six months, a higher rate than consumers (13%). Impersonator fraud, intercepted e-Transfers, and credit card fraud were the most common types, with 71% of affected businesses receiving partial or full reimbursement from their financial institution. Despite rising fraud risks, 65% of businesses say they feel confident in their ability to protect themselves.
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