Canadian businesses need to reassure customers they are doing enough to protect their personal information at a time when there is growing public concern about identity theft, according to the latest Canada Fraud survey conducted for CPA Canada1.
The survey found that 71 per cent of respondents fear identity theft, up from 66 per cent in 2017. Trust in the efforts of Canadian businesses to protect personal information is eroding: 68 per cent of people surveyed said they believe businesses are doing their best to safeguard customer information, down from 72 per cent last year.
Even though Canadians are transacting business and shopping online more than ever before, many are still unsure if the information they provide is protected. The survey found that 68 per cent of respondents believe electronic payment methods, such as tapping debit and credit cards or using smartphone apps, facilitate fraudulent activities, and 40 per cent report feeling uncomfortable buying online.
Doretta Thompson, director, corporate citizenship, CPA Canada says2 while companies face significant challenges associated with gathering, managing and protecting information, it’s also up to individuals to do as much as they can to protect themselves against fraud.
“Use trusted websites, reputable payment processors and check your bank or credit card statements regularly for discrepancies,” she suggests. “Be extremely cautious about what information you share online. Fraudsters are always looking for personal data.”
HSBC also advises you never disclose security details over the phone when receiving unsolicited calls. If you receive an unsolicited call from HCBC, for example, ask for the caller's contact details then call your HSBC Relationship/Account Manager to validate before calling back.
For information about how HSBC protects our customers, visit HSBC Safeguard
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Issued by HSBC Bank Canada ("HSBC")