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Home » Industry & Business » It Takes Vigilance — and a Village — to Fight Fraud

Rachel Jolicoeur

Fraud Prevention & Strategy Director, Interac Corp.

Isolation may impact our defences against fraud. As the pandemic persists — and as we face colder weather and shorter days — many Canadians will spend more time alone and could become more vulnerable to fraud.

Research from Interac Corp., a leader in digital security and authentication, demonstrates that over half (55 percent) of Canadians worry that increased isolation during the pandemic is making people more susceptible to fraud. Meanwhile, data from the Canadian Anti-Fraud Centre shows 23,842 reports of COVID-19-related fraud between March 6, 2020, and June 30, 2021.

Rachel Jolicoeur, Fraud Prevention and Strategy Director at Interac, says that Cyber Security Awareness Month is an opportunity to give Canadians the tools and support they need to fight back against the fraud threat.

“The best way to combat isolation is through community — and making that connection with others is critical when it comes to fighting fraud,” says Jolicoeur. “Fraudsters always look for new ways to force Canadians to react in the heat of the moment. This pressure can be compounded when we don’t have a friend, family member, or neighbour we can turn to for a second opinion.”

Use your voice to help others

According to Jolicoeur, we can counteract the impacts of isolation by sharing our fraud experiences with others. We should look for opportunities to educate widely on any scam attempt we have faced and what could have been done to stop it.

“I always say that it takes a village to stop fraud. It also takes vigilance. Think about those in your life and reach out to them to share your experiences. Let them know they can talk to you if faced with requests for information that appear suspicious. At Interac, we advise Canadians to Stop, Scrutinize, and Speak Up. Ask others not to react in the moment — if they’re being forced to respond quickly, that’s a telltale sign of fraud. Take a moment to pause and listen to your instincts,” says Jolicoeur.

Investing in secure innovation

As Canadians, we all have a responsibility to help combat fraud — including the business community. For its part, Interac works to keep Canadian customers safe and secure when transacting through the company’s investment in world-class privacy, fraud mitigation, governance, and digital identity and authentication expertise.

“We take our responsibility to protect Canadians seriously. For example, Interac e-Transfer® users are protected by multiple layers of security, making the service one of the most secure money transfer services globally. Enhanced features have been designed with security in mind — including Interac e-Transfer Autodeposit, which we encourage Canadians to use as it allows transactions to be automatically and conveniently deposited into your bank account,” says Jolicoeur.

Interac and Interac e-Transfer are registered trade-marks and the Interac logo is a trade-mark of Interac Corp. Used under licence.

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