Equifax Canada reports a 54% increase in auto fraud, with Ontario seeing the highest rise.

Equifax Canada reports a 54% increase in auto fraud over the past year, largely due to identity theft and fraudulent credit applications. Ontario has seen the highest rise, with rates doubling. The report highlights first-party fraud, where individuals use false financial information, as prevalent. Equifax urges businesses and consumers to adopt identity protection measures and stay informed about fraud trends to mitigate risks in the automotive sector.

September 24, 2024
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