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Policy & Regulation
One in four fraud losses in Canada now involves AI-generated techniques
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Summary
A LexisNexis survey found that Canadian financial firms estimate AI-generated techniques are involved in about 25% of their fraud losses, compared with 19% among United States firms. Bot attacks account for about 21.8% of monthly transactions in Canada, and firms lose $4.09 for every dollar of fraud, up from $3.65 in 2021. The study surveyed 68 Canadian fraud and risk professionals among 319 respondents across Canada and the United States.