Payments Canada has published research showing that Canadians aged 18 to 24 face substantially higher fraud exposure and losses than the broader adult population. Over the past 12 months, 47 per cent experienced a scam involving attempted theft or loss of money or personal information, compared with 30 per cent overall. Twenty-six per cent lost money, double the population rate of 13 per cent. The findings link this vulnerability to digital behavior and targeted fraud tactics. Among Gen Z respondents, 21 per cent had shared banking details by email or text, 36 per cent reused the same password across all accounts and 57 per cent created strong passwords, compared with 71 per cent of the general population. Payments Canada plans to launch the Real-Time Rail in the fourth quarter of 2026 with centralized fraud mitigation services, including confirmation of payee, operating alongside participants’ own controls.
2026-09-22Payments Canada
Payments Canada finds 26 per cent of Gen Z lost money to fraud, twice the population rate
Payments Canada found that 26 per cent of Canadians aged 18 to 24 lost money to fraud over the past year, twice the rate for the general population. Risky digital practices and targeted online scams contributed to their higher exposure. The Real-Time Rail is scheduled to launch in the fourth quarter of 2026 with centralized fraud controls, including confirmation of payee.