Three-quarters of Canadian consumers say they are more concerned about cybersecurity risks now than they were two years ago, according to new research from Mastercard.
The Mastercard Global Cybersecurity Research 2025 report reveals a growing sense of vulnerability among Canadians, with 72 per cent agreeing it is harder to secure personal information online than it is to secure their physical homes.
The research shows that cybersecurity is becoming a regular topic in everyday life. Fifty-five per cent of Canadians think about cybersecurity on a weekly basis or more, surpassing concerns like job security (37 per cent). Nearly half (48 per cent) said, “Cybersecurity has come up in dinner-table conversation in the last month.”
The report also highlights that younger consumers are more likely to fall victim to fraud. While 84 per cent of Canadians have received a scam attempt in the past year, 30 per cent engaged with the outreach. That includes 41 per cent of Gen Z, 43 per cent of Millennials, 29 per cent of Gen X and 14 per cent of Boomers.
Shopping and retail fraud was the most frequently experienced type (34 per cent), followed closely by investment and cryptocurrency scams (33 per cent), identity theft attempts (33 per cent), and romance or dating deception (29 per cent). Twenty-two per cent reported ticketing fraud, and 20 per cent said they had experienced travel-related scams.
Among those who engaged with fraud while shopping, 63 per cent suffered financial loss, with 45 per cent reporting losses of approximately $100 or more.
Consumers expressed concern about the increasing sophistication of cyber threats. Eighty per cent agreed, “Transaction fraud is becoming harder to detect,” while 55 per cent said, “Transaction fraud is so common now that getting scammed is inevitable.”
Despite this, stigma continues to surround scam victimhood. Sixty-eight per cent of Canadians said they would feel ashamed if they fell victim to an online scam, and 50 per cent said they would be embarrassed to tell anyone. However, only 32 per cent said they would judge someone else who had experienced fraud.
The report suggests that fraud can significantly impact businesses, particularly small ones. Nearly three-quarters (73 per cent) of Canadians said they would stop shopping at a retailer after experiencing fraud there. Seventy per cent would increase their scrutiny of that retailer, and 79 per cent said they would share their experience through word of mouth.
Additionally, 73 per cent said they would only shop with major or well-known retailers after a fraud experience, avoiding smaller or unfamiliar brands.
When it comes to protection, Canadians place the most trust in their financial institutions. Eighty-four per cent trust banks and 79 per cent trust credit card companies to protect them from fraud, compared to 73 per cent who trust government institutions. Seventy-six per cent said they trust their financial providers to protect them more than they trust themselves.
Artificial intelligence is adding a new layer of concern. AI-generated fake content is the top scam-related concern for the future, yet only 10 per cent of Canadians feel very confident in their ability to detect such threats.
The report found that 82 per cent are concerned about large-scale automated cyberattacks, 81 per cent about more convincing phishing emails, and 80 per cent about AI systems being hacked and turned malicious.
Still, many Canadians are taking proactive steps to protect themselves. Common measures include:
- Checking the sender before opening emails (71 per cent)
- Using strong passwords (71 per cent)
- Verifying unknown communications (66 per cent)
- Keeping apps and software updated (66 per cent)
- Enabling two-factor authentication (62 per cent)
- Using VPNs or secure networks (52 per cent)
- Reviewing and adjusting privacy settings (46 per cent)
- Enabling biometric authentication (41 per cent)
Despite these actions, gaps remain—particularly among Gen Z and Boomers. For example, only 44 per cent of Gen Z reported using security software, and just 23 per cent of Boomers use biometric authentication.
The report also found that 70 per cent of Canadians are interested in formal education or training on how to handle scams.
Amisha Parikh, VP, Product Management, Cyber + Intelligence Solutions, Mastercard, said: “The findings of Mastercard’s latest global research underline a pivotal shift in how Canadians perceive and navigate cybersecurity threats. With three-quarters of consumers expressing heightened concern and over 80 per cent reporting direct encounters with scams, digital safety has shifted from an abstract concept to an everyday reality — one that shapes how Canadians trust, transact, and protect themselves online.
“With younger Canadians disproportionately falling victim to scams and 70 per cent of Canadians expressing interest in formal training, there is an urgent need for accessible education on fraud prevention for consumers and real-time solutions for businesses of all sizes. Through partnerships with retailers and initiatives like the Mastercard Trust Centre, Mastercard aims to empower small businesses with the tools and knowledge needed to stay secure in an evolving digital landscape.”
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