Enforcement against mortgage professionals jumps as FSRA flexes new powers Apr 3rd
TD launches agentic AI for mortgage and HELOC applications + MORE May 24th
Mortgage broker share rises to 38%, hits 48% among recent first-time buyers: MPC Jul 26th
Five-year prison terms handed to Fortress founders in mortgage fraud case Feb 22nd
We’re 10 years apart. Can we retire together? + MORE Feb 26th
CMHC reports November housing starts up 9.4% from October
– canadianmortgagetrends.com
Canada Mortgage and Housing Corp. says the annual pace of housing starts rose 9.4% in November.How to protect yourself from identity fraud in Canada
– moneysense.ca
In 2024, Canadians lost a jaw-dropping $638 million to fraud, according to the Canadian Anti-Fraud Centre (CAFC). That’s already a hefty $60 million more than losses reported the previous year, but the true total is likely much, much higher—experts at the CAFC say that less than 5% of scams are ever reported.
What we do know, however, is the type of fraud reported most often in Canada: identity fraud. To pull this off, criminals use phishing scams and other ruses to trick Canadians into revealing personal and financial information. Depending on what they find out, scammers could impersonate you, charge purchases to your credit card, apply for a loan and/or mortgage in your name, drain your bank accounts, and more.
It’s also becoming harder to identify scams. Some fraudsters now use artificial intelligence (AI) technology to create highly convincing audio and video “deepfakes” using Canadians’ voices and faces. AI tools are also helping criminals target exponentially more people at once, making scams harder to avoid…
