As more Canadians move their personal information online, cybersecurity is no longer simply an option, it’s a must-have. According to RBC’s recent Cyber Safety Index, 38 per cent of Canadians are at moderate to high risk of cyberattacks.
Hackers, scammers, and identity thieves have stepped up their game. And in many cases, they’re able to easily exploit knowledge gaps among vulnerable segments of the Canadian population.
But it’s not all doom and gloom on the digital front. While many Canadians (up to 77 per cent) engaged in unsafe online practices last year, a positive trend is emerging: higher proportions of Canadians (85 per cent; +3 pts) say they’re comfortable learning new ways to protect their online information compared to 2023.
With the right tools and know-how, many of today’s cyber threats can be mitigated.
How online scams are targeting Canadians right now
Online scams have become sophisticated, targeting all demographics. According to an RBC survey, cybercriminals heavily targeted Canadians aged 18-34 in the past year, but online scams aren’t limited to younger generations. Older adults are often preyed upon with schemes that exploit trust or lack of familiarity with technology, while younger adults are targeted for online fraud and identity theft due to their digital presence.
Understanding cybercriminals’ tactics can help protect you. Here are some of the most common ways they’re contacting Canadians:
The ‘click-on-this-link’ scam
Scammers manipulate people into handing over confidential information by playing on our emotions – like fear or urgency. For example, cybercriminals may pose as a trusted source asking you to confirm or change your password via a malicious link in an email. Their goal is to install malware on your device, which can push ads, lock your computer, or track your online activity.
What you should do:
- Don’t click links in emails or texts from unknown senders.
- Stop and think, ‘is this too good to be true?’. If it is, don’t take the bait.
- Always verify the person’s identity when you receive an urgent request.
- If a suspicious email appears to come from your bank, forward it to your financial institution for verification.
Tax scams
Fraudsters pose as the Canada Revenue Agency (CRA), claiming you owe taxes or are due a refund. They create fear by threatening legal action if you don’t comply. These scams typically come via text or phone.
Scammers may also claim tax return issues and request personal information to process a refund. They send links or attachments with malware or ransomware.
Never share personal information through phone, text, or email. Clicking suspicious links can give scammers access to your bank account.
What you should do:
- The CRA will never ask for your personal information over the phone or through text or email.
- If you suspect you’ve been tricked into giving personal information or feel you’re a fraud victim, contact your financial institution immediately.
- Contact the Canadian Anti-Fraud Centre toll-free at 888-495-8501.
Romance scams
Criminals create fake profiles on dating or social media sites to build trust and relationships with victims. Their goal is to establish a connection quickly, endear themselves to the victim, gain their trust, and profess to have fallen in love.
Eventually, they ask the victim for money or personal information, often under the pretence of an emergency.
Romance scams often target older or isolated adults who are more trusting and vulnerable. Unfortunately, common targets are widows and widowers, but criminals will go after anyone eager for a new relationship.
What you should do:
- If you suspect an online relationship is a scam, stop all contact immediately.
- If you sent money or shared your financial information with someone, contact your financial institution immediately.
- Report the person’s online profile and the dating site to local police.
RBC’s commitment to protecting Canadians from cyber threats
RBC is committed to equipping Canadians with the tools and knowledge to protect themselves online. As digital crime and online scams rise, RBC is among the leaders in cybersecurity education and awareness.
"Cybersecurity is not just about protecting data - it’s about protecting people,” says Adam Evans, Chief Information Security Officer at RBC. “The statistics show that while many Canadians are aware of some online threats, there’s still work to be done in changing behaviours. At RBC, we’re focused on providing Canadians with the tools and education they need to take control of their online safety and mitigate risks in an ever-evolving digital world."
By following RBC’s tips and using the Be Cyber Aware website resources, Canadians can reduce their vulnerability and enjoy greater peace of mind online.
RBC’s tips to help you stay safe online
1. Use strong, unique passwords
To protect your accounts, create strong, unique passwords. Avoid reusing the same password across multiple sites, as this increases the chances of a hacker accessing multiple accounts. RBC recommends using a password manager to generate and store complex passwords.
2. Be cautious with public Wi-Fi
Public Wi-Fi networks are convenient but risky. Avoid accessing sensitive information, like banking apps or personal emails, on public networks. If you must use Wi-Fi, consider using a virtual private network (VPN) for extra security.
3. Enable multi-factor authentication
Multi-factor authentication (MFA) adds an extra step to your login process, making it harder for hackers to access your accounts. RBC encourages Canadians to enable it wherever possible, especially for financial and email accounts.
4. Think before you click
Phishing scams — fraudulent emails, messages, or websites designed to trick you into providing personal information — are rising. RBC advises Canadians to think twice before clicking unfamiliar links or downloading attachments from unknown sources.
5. Regularly monitor your accounts
Regularly checking your bank accounts and credit card statements can help you spot unusual activity early. If you notice any unauthorized transactions, report them to your financial institution immediately.
“Protecting yourself online doesn’t have to be complicated,” adds Evans. “Canadians can start with simple steps and being cautious about the information they share online. The key is to make these practices a routine part of your digital life, so you’re always one step ahead of potential threats.”
Visit RBC.com/cyber and become more cyber aware.
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.