TRU TransUnion

As Canadians took advantage of retail deals offered between 28 November (US Thanksgiving) and 2 December (Cyber Monday), a new analysis from TransUnion® (NYSE: TRU) found that 2.6% of attempted consumer ecommerce transactions in Canada were suspected to be Digital Fraud during this holiday shopping period. This was up 51% from 1.7% over the US Thanksgiving period last year.

The analysis reviewed attempted ecommerce transactions from across the globe and found that 4.6% of transactions worldwide were suspected to be Digital Fraud over this time period – colloquially known as the Cyber Five. Based on proprietary insights from TransUnion’s global intelligence network, TransUnion found that the global suspected Digital Fraud rate was down from 6.0% during the same period in 2023.

The study determined that the average volume of suspected Digital Fraud attempts on any given day during that holiday period globally was 30.2% lower than it was in 2023 and 5.9% lower than during the rest of the year (1 January 2024 to 27 November 2024).

The Percentage of Suspected Ecommerce Fraud during the Cyber Five vs. Overall

Location	Cyber Five 2024 (28 November to 2 December)		Cyber Five 2023 (23 November to 1 December)		Cyber Five 2022 (24 to 28 November)
Canada	2.6%		1.7%		1.8%
Globally	4.6%		6.0%		4.3%

Source: TransUnion TruValidate®

“A later US Black Friday along with the general lengthening of the holiday shopping season were factors in the overall decline in transactions and the concurrent downtick in suspected Digital Fraud during the Cyber Five. The Government of Canada’s announcement of upcoming tax relief on some popular holiday items may have also influenced some consumers to delay their holiday shopping until these tax breaks kick in on December 14,” said Patrick Boudreau, head of identity management and fraud systems at TransUnion Canada. “For online retailers, this speaks to the need to maintain diligence year-round. For the remainder of this holiday shopping season, and beyond, online retailers must continue to implement tools that maintain a friction-right experience, wherein both business and consumer are protected without major disruption.”

The highest percentage of suspected Digital Fraud globally during the Cyber Five occurred on Thursday 28 November with 5.3% of all attempted digital retail transactions on that day suspected to be Digital Fraud. Similar to global data, the suspected Digital Fraud attempt rate during the holiday period was the highest on 28 November for attempted transactions where the consumer was in Canada.

The Suspected Ecommerce Fraud Rate Varies for Each Day of the 2024 Holiday Shopping Weekend

Day	Canada	Globally
Thursday, 28 November	2.9%	5.3%
Friday, 29 November	2.7%	4.5%
Saturday, 30 November	2.3%	4.2%
Sunday, 1 December	2.5%	4.6%
Monday, 2 December	2.3%	4.5%

Source: TransUnion TruValidate®

As part of this analysis, TransUnion also determined the top signals indicating risk of fraudulent ecommerce transactions during the holiday shopping season globally. This year, unusually high transaction volume from a single device and devices being newly associated with an account were among the leading indicators for potential fraud attempts.

Many Holiday Shoppers Remain Concerned About Digital Fraud

The increase in suspected Digital Fraud came as 54% of Canadian consumers indicated in the Q4 2024 Canada Consumer Pulse Survey, whose study will be released in the coming weeks, that they had been targeted by fraud scams in the preceding three months.

“The winter holidays are always hugely impactful to retailers’ bottom lines, and our recent survey indicates that consumers may be particularly eager to buy this holiday shopping season,” said Boudreau. “It’s as important as ever for retailers to equip themselves with the tools they need to detect fraud early. These tools can help minimize fraudulent transactions while at the same time protecting legitimate transactions. Retailers should seek to implement holistic fraud solutions that can help verify customer identity and authenticity as early as possible during a transaction.”

TransUnion came to its conclusions about Digital Fraud based on intelligence from its identity and fraud product suite that helps secure trust across channels and delivers efficient consumer experiences – TransUnion TruValidate®. The rate or percentage of suspected Digital Fraud attempts reflects those which TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country and region when conducting a transaction.

To find out how this data varies by select countries and more, TransUnion’s holiday fraud trends can be found here.

Learn more about how TransUnion® helps individuals and families protect against identity theft here.

About TransUnion® (NYSE: TRU)TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we’re the credit bureau of choice for the financial services ecosystem and most of Canada’s largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

For more information visit: www.transunion.ca

For more information or to request an interview, contact:Contact: Katie DuffyE-mail: katie.duffy@ketchum.comTelephone: +1 647-772-0969