Desperate times call for desperate measures, but in some cases, it’s leading to more people resorting to fraud to get by.
That’s according to Equifax, which says that it’s finding more instances – not of fraudsters targeting others, but of people using fraudulent means to gain access to credit or cash.
Cherolle Prince of Equifax says instances of first-party fraud are up 31 per cent year over year, and they’re seeing more cases of people misrepresenting their own information.
“The actual individual and owner of the identity is themselves misrepresenting data and information in order to qualify for some sort of credit product or service.”
Prince says that’s a reflection of the economic pressure many Canadians are facing, particularly those in their 20s and 30s.
“Canadians feel it may be okay to tell a little white lie. So what we’re finding is these economic pressures are pushing some individuals to misrepresent their data, just so they can qualify for a credit card to help make ends meet.”
