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

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.

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

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

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.

23% of Canadians are confident their identity has never 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.

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.

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.

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.

In terms of geography for attacks on critical sectors, the United States bore the brunt of attacks (61%), followed by the United Kingdom (6%) and Canada (5%).

A smaller share of Canadian middle market firms indicate they don't have AI governance in place compared to U.S. respondents (5% versus 20%).

On average, Canadian respondents at middle market organisations have larger cybersecurity teams, with 39% saying they have 16 or more employees, compared to 11% in the U.S..

Canadian middle market firms are less likely to have cyber insurance coverage than U.S. companies (68% versus 82%).

In the past 12 months, 87% of Canadian organisations have reported experiencing a security incident.

Between 2023 and 2024, Canadian businesses conducted an average of 17 GenAI proof-of-concepts (PoCs).