Fraud in auto, credit card, mortgage sectors rise amid interest rate hikes: study

📆 9/21/2023 7:50 PM
📰 YahooFinanceCA

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TORONTO — New data suggests an uptick in fraud in the auto, credit card and mortgage sectors is driven by growing financial pressures on consumers and by fraudsters using bold schemes. An Equifax Canada report shows fraud in the automotive sector has surged 28 per cent, year-over-year, while the credit cards saw a jump of 37.9 per cent. The mortgage sector saw an 18.8 per cent increase in the fraud rate. Carl Davies, head of fraud and identity at Equifax Canada, says if interest rates remain hig

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Fraud in auto, credit card, mortgage sectors rise amid interest rate hikes: EquifaxNew data suggests an uptick in fraud in the auto, credit card and mortgage sectors is driven by growing financial pressures on consumers and by fraudsters using bold schemes.
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