Credit Card Application Fraud Climbs as Identity Thieves Disproportionately Target Canadians Aged 56 to 65

Credit card application fraud in Canada rose 8% year-over-year in Q2 2026, reaching 0.91%, driven primarily by third-party identity theft. Canadians aged 56-65 are being disproportionately targeted by fraudsters exploiting higher credit limits and infrequent credit report monitoring. The fraud surge occurs amid rising consumer debt ($2.68 trillion) and increased delinquencies, while auto, mortgage, and telecommunications fraud rates declined.