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🧑‍⚖️‍📝💻 Younger Canadians Most Confident in Spotting Ai-Scams are Also Most Likely to Fall for Fraud

Wednesday, 11 March 2026 12:00.PM

- 79% of young Canadians know how to identify fraud, but 82% worry AI will result in more sophisticated financial scams -

Most young Canadians believe they're able to spot AI-generated fraud, but despite this confidence they are also the most susceptible to falling victim.

According to a new Scotiabank Fraud Awareness Poll, Canadians aged 18-34 are most confident (76%) among all age groups in their ability to identify AI-generated scams. However, younger Canadians are also most vulnerable, with nearly one-in-three (29%) saying they fell for a scam in the past year.

Social media and email scams topped the list, suggesting that fraudsters are developing new channels to target younger, more digitally-connected generations.

The findings support a growing trend in Canada: despite perceptions that seniors are the most vulnerable to financial fraud, younger Canadians are increasingly falling victim. And as advancements in AI lead to a rise in deepfakes, Canadians of all ages are concerned about what tomorrow could bring, with 90% expressing fear that AI will create more sophisticated financial fraud that is harder to detect.

Amid these concerns, half (50%) of Canadians say they rely on their financial institutions for fraud prevention resources. As fraudsters increasingly target all ages, it's imperative that Canadians turn to their financial institutions even more as their key partner for fraud education and resources.

"As fraudsters leverage AI to create more convincing scams than ever before, there is an opportunity for financial institutions like Scotiabank to continue to educate Canadians on how to spot scams, practice safe banking habits and take steps for added protection," says Tammy McKinnon, Senior Vice President of Global Fraud Management, Scotiabank. "Fraud is increasingly impacting younger Canadians, and it is important for families to turn to their Bank for fraud prevention resources to help each other stay informed and protected. At Scotiabank, we're committed to supporting the fight against fraud and keeping our clients' financial information safe."

• The poll also showed Canadians (78%) are aware of the security precautions their financial institution has in place.
• The majority of Canadians use secure and unique passwords (88%), enable two-step verification when offered (82%), and know how to identify and report fraudulent activity (81%).
• Nearly three-quarters (71%) of Canadians believe financial institutions should be given more time to process transactions to protect against fraud.

How can Canadians safeguard themselves against AI scams?

• Visit Scotiabank's Cybersecurity and Fraud Hub for fraud prevention resources, such as descriptions of common scams, fraud simulation activities, and a scam identifier tool.
• Activate multifactor authentication where possible on all your online accounts to help keep your information safe and secure.
• Establish a code word with your family. If you receive an unusual voice or video call from them, ask for the code word to validate the legitimacy of the call, or call them back to confirm it's truly them.
• If you suspect a deepfake or an AI scam, do not share, like, or comment on it. Use the report function on social media to flag it.
• If you are a Scotiabank client:
• Enable Scotia InfoAlerts to stay on top of your account activity and get notified immediately when your bank cards have been used.
• Scotiabank will alert you when on any transactions that appear unusual with Scotia Fraud Alerts.
• Scotiabank will never contact you and ask for your PIN, password, one-time verification codes or account numbers. We will never ask for you to turn over your bank cards or download third party software.

To help protect Canadians against fraud, Scotiabank has teamed up with the federal government, law enforcement and Canada's major financial services, telecommunications and technology companies to form the Canadian Anti-Scam Coalition. The Coalition is Canada's first unified cross-sector initiative to combat scams.

This survey was undertaken by The Harris Poll Canada. It ran overnight on January 7th, 2026, with 1,514 randomly selected Canadian adults who are online panellists.

SOURCE: Scotiabank