FICO

Cybersecurity reports and statistics published by FICO

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Research Reports

Reports and publications from FICO

Recent Statistics & Reports

81% of Canadians rate the security of fingerprints and facial recognition as good or excellent.

Over 40% of personal loan, credit card, and card loan Canadian applicants expect to spend less than 30 minutes opening a checking account.

Nearly 20% of Canadians will abandon a checking account if identity checks are too difficult or time-consuming.

15% of Canadians have reduced or stopped using their checking accounts due to the difficulty of identity checks.

17% of Canadians have reduced or stopped using credit cards due to the difficulty of identity checks, which is slightly higher than in 2023.

71% of Canadians rank the use of stolen identity to open an account as a top three fraud concern.

40% of Canadians believe it’s unlikely that their identity has been used to open an account.

31% of Canadians are now more likely to open a financial account online than they were a year ago.

49% of Canadians reported experiencing more frequent identity verification checks during online purchases.

49% of Canadians reported experiencing more frequent identity verification checks while logging into bank accounts.

Nearly one-third of Canadians view first-party fraud, such as providing false information on financial applications, as acceptable in certain circumstances or even normal behaviour.

30% of Canadians rank good fraud protection as one of the top three considerations when selecting a new account, while 71% rank it in their top three overall.

23% of Canadians are confident their identity has never been used to open an account.

32% of Canadians say they are more likely to open a financial account digitally than they were a year ago.

62% of Canadians report they either like or have a strong preference to use fingerprints for security.

6% of Canadians reported their stolen identity was used by a criminal to open a financial account (approximately 8 million victims), an increase from 5% in 2023 and 5.6% in 2020.

6% of Canadians reported their stolen identity was used by a criminal to open a financial account (approximately 8 million victims), an increase from 5% in 2023 and 5.6% in 2020.