Account login was the highest risk stage in Canada, with a suspected digital fraud rate of 13.0%.

66% of CISOs say they would consider paying a ransom to prevent data leaks or restore systems. This figure rises to 84% in Canada and Mexico.

6% of Canadians reported their stolen identity was used by a criminal to open a financial account (approximately 8 million victims), an increase from 5% in 2023 and 5.6% in 2020.

81% of Canadians rate the security of fingerprints and facial recognition as good or excellent.

49% of Canadians reported experiencing more frequent identity verification checks while logging into bank accounts.

Over 40% of personal loan, credit card, and card loan Canadian applicants expect to spend less than 30 minutes opening a checking account.

17% of Canadians have reduced or stopped using credit cards due to the difficulty of identity checks, which is slightly higher than in 2023.

Nearly 20% of Canadians will abandon a checking account if identity checks are too difficult or time-consuming.

71% of Canadians rank the use of stolen identity to open an account as a top three fraud concern.

40% of Canadians believe it’s unlikely that their identity has been used to open an account.

31% of Canadians are now more likely to open a financial account online than they were a year ago.

15% of Canadians have reduced or stopped using their checking accounts due to the difficulty of identity checks.

49% of Canadians reported experiencing more frequent identity verification checks during online purchases.

Nearly one-third of Canadians view first-party fraud, such as providing false information on financial applications, as acceptable in certain circumstances or even normal behaviour.

30% of Canadians rank good fraud protection as one of the top three considerations when selecting a new account, while 71% rank it in their top three overall.

23% of Canadians are confident their identity has never been used to open an account.

32% of Canadians say they are more likely to open a financial account digitally than they were a year ago.

62% of Canadians report they either like or have a strong preference to use fingerprints for security.

6% of Canadians reported their stolen identity was used by a criminal to open a financial account (approximately 8 million victims), an increase from 5% in 2023 and 5.6% in 2020.

5% of observed ransomware victims in Q2 2025 were based in Canada.