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Suspected Digital Fraud Coming from Canada Up Nearly 11% Since H1 2023, Reveals New TransUnion Analysis

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In the first half (H1) of 2024, Canada saw a significant increase in suspected Digital Fraud attempts, with nearly 5.74% of all attempted digital transactions where the consumer was located in Canada involving suspected Digital Fraud, revealed a new TransUnion® (NYSE: TRU) analysis. This is nearly an 11% year-over-year (YoY) rate increase from H1 2023, and TransUnion also documented an 11% increase in the volume of suspected Digital Fraud from Canada during this period, despite a less than a one percent (0.7%) YoY increase in the volume of transactions.

According to a recent TransUnion survey,1 more than half (54%) of Canadians said they were recently targeted by email, phone call or text message fraud attempts. Phishing was the most common scheme type (45%), followed by smishing (42%) and vishing (39%).

The increasing use of digital transactions, combined with rising suspected Digital Fraud attempts are also impacting businesses as they potentially face revenue losses and increased operational costs due to fraud. According to a TransUnion business survey for the H2 2024 Update to the State of Omnichannel Fraud report, 200 Canadian business leaders said their companies lost approximately 6% of equivalent revenue – representing $78 billion – over the past year due to fraud. The most prominent causes of fraud loss cited by them were:

  • Scam/Authorized fraud (31%): Dishonest scheme intended to trick a person into giving up something of value (e.g., account access, money, information)
  • Account takeover (19%): Unauthorized individuals taking over someone’s online account (e.g., bank, social media, email) without their permission
  • Synthetic identity fraud (18%): Use of a combination of personal information to fabricate a person or entity to commit a dishonest act for financial or personal gain

TransUnion also found that suspected Digital Fraud attempts – where the consumer was transacting in Canada and targeted businesses globally – increased on average by 10.5% YoY in H1 2024 compared to H1 2023 and impacted all industries.

Top Three Industries Globally with Highest Rate of Suspected Digital Fraud Attempts Coming from Canada in H1 2024

  1. Gambling (online sports betting, poker, etc.) – 9.6%
  2. Retail – 9.2%
  3. Government – 7.7%

Top Three Industries Globally with Highest YoY Increase (H1 2024 vs H1 2023) in the Rate of Suspected Digital Fraud Attempts Coming from Canada

  1. Logistics – 172.9%
  2. Gambling – 79.3%
  3. Video gaming – 67.8%

“Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by companies to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada.

“Businesses that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs,” he added.

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CasinoCanada announces partnership with FortuneJack casino

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CasinoCanada.com has established a partnership with FortuneJack crypto casino to support brand visibility and drive traffic to the platform across non-regulated Canadian markets.

CasinoCanada will create and publish informational content highlighting FortuneJack’s features and gaming portfolio. The content will be integrated into CasinoCanada’s review and comparison sections to expand coverage and improve user navigation.

CasinoCanada is an online casino guide focused on the Canadian market, operated by SEOBROTHERS.

Eugene Ravdin, Head of PR at SEOBROTHERS, stated: “Our objective is to provide users with structured information about FortuneJack’s platform and support consistent traffic development. With crypto casinos rapidly growing in popularity and becoming an increasingly important segment of the iGaming industry, we see strong potential in this direction and aim to help users navigate it with clarity and confidence.”

Established in 2012, FortuneJack is an online cryptocurrency casino platform offering over 3,500 games, including more than 2,700 slot titles. The platform features providers such as Pragmatic Play, Yggdrasil, Betsoft Gaming, Red Tiger, GameArt, and PG Soft.

FortuneJack’s live casino section includes up to 135 games, along with betting options across 50 sports. FortuneJack is operated by PlayWave SRL, registered and licensed under Anjouan laws.

Sally Betanishvili, Brand Manager at FortuneJack commented: “At FortuneJack, Since 2014 our priority is staying at the forefront of the iGaming evolution by offering a premier crypto-gaming experience. Partnering with CasinoCanada allows us to bring our extensive portfolio of over 6000+ games to a wider Canadian audience that values transparency and variety. We are excited to work with a partner that shares our commitment to helping players navigate the exciting world of crypto casinos with confidence.”

The partnership will focus on ongoing content development, increased platform visibility, and user acquisition initiatives across CasinoCanada’s media channels.

The post CasinoCanada announces partnership with FortuneJack casino appeared first on Americas iGaming & Sports Betting News.

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CasinoCanada partners with FortuneJack to expand crypto casino coverage

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CasinoCanada.com has partnered with FortuneJack crypto casino to increase FortuneJack’s visibility and drive traffic via CasinoCanada’s content channels in non-regulated Canadian markets.

Under the deal, CasinoCanada will create and publish informational content focused on FortuneJack’s features and gaming portfolio. The material will be integrated into CasinoCanada’s review and comparison sections, which the company said is intended to expand coverage and improve user navigation.

CasinoCanada is an online casino guide focused on the Canadian market and operated by SEOBROTHERS. Eugene Ravdin, Head of PR at SEOBROTHERS, said: “Our objective is to provide users with structured information about FortuneJack’s platform and support consistent traffic development. With crypto casinos rapidly growing in popularity and becoming an increasingly important segment of the iGaming industry, we see strong potential in this direction and aim to help users navigate it with clarity and confidence.”

FortuneJack, established in 2012, said it offers over 3,500 games, including more than 2,700 slots, from providers including Pragmatic Play, Yggdrasil, Betsoft Gaming, Red Tiger, GameArt, and PG Soft. The operator also lists up to 135 live casino games and betting across 50 sports. FortuneJack is operated by PlayWave SRL and is registered and licensed under Anjouan laws.

Sally Betanishvili, Brand Manager at FortuneJack, said: “At FortuneJack, Since 2014 our priority is staying at the forefront of the iGaming evolution by offering a premier crypto-gaming experience. Partnering with CasinoCanada allows us to bring our extensive portfolio of over 6000+ games to a wider Canadian audience that values transparency and variety. We are excited to work with a partner that shares our commitment to helping players navigate the exciting world of crypto casinos with confidence.” The companies said the partnership will focus on ongoing content development, increased platform visibility, and user acquisition initiatives across CasinoCanada’s media channels.

The post CasinoCanada partners with FortuneJack to expand crypto casino coverage appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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FanDuel Announces New Partnership with Toronto Tempo

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FanDuel has announced a new partnership with the Toronto Tempo, becoming its first official iGaming partner.

This multi-year agreement brings together two brands committed to expanding women’s sports in Canada. Through this collaboration, FanDuel positions itself as the best Sportsbook and Casino for fans to engage with Canada’s women’s team, bringing them closer to the action and women’s basketball than ever before.

“Partnering with the Toronto Tempo in their inaugural season is an exciting opportunity for FanDuel customers and basketball fans. As a company that shares the same passion for community and empowering women’s sports, we are proud to support a new franchise that will celebrate fans and elevate women’s professional sports in Canada,” said Tom Burdakin, Vice President of Marketing at FanDuel.

“One word to describe this partnership is transformative. Welcoming FanDuel marks a significant milestone for our organization as we continue to build Canada’s first WNBA team and deepen fan engagement,” said Lisa Ferkul, Chief Revenue Officer at Toronto Tempo.

FanDuel has had a front row seat to the growth of women’s sports in recent years as a proud official partner of the WNBA. Through this partnership and FanDuel’s best in class WNBA offering, fans can engage in more ways than any other platform from tip-off to buzzer.

As the first Sportsbook and Casino partner, FanDuel and the Toronto Tempo will bring exclusive fan initiatives to FanDuel’s customers, as well as in-arena visibility and digital activations to connect fans with the excitement of the WNBA both on and off the court.

The post FanDuel Announces New Partnership with Toronto Tempo appeared first on Americas iGaming & Sports Betting News.

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