CAD$407,729,739 Loss in Canadian Credit Card Fraud for 2008

August 25, 2009

For the year ending December 2008, CAD$407,729,739 loss to credit card fraud has been reported in Canada, involving 450,322 Canadian issued cards. This is an average loss of CAD$905.42 per account.

Counterfeit cards is the main culprit in terms of dollar volume with CAD$196,653,970 loss involving 158,503 accounts.

Whereas fraudulent e-commerce, telephone and mail purchases has reported the highest numbers of cases, involving 210,430 accounts with CAD$128,362,477 loss in value… more interesting facts on Canada credit cards fraud statistics can be found here

Canadian Total Credit Card Outstanding Balances increased by 10.07%

March 31, 2009

Facts about Canada credit cards based on statistics released by the Bank of Canada.

The total credit card outstanding balances as at December 2007 is CAD$48.505 billion, compares to CAD$53.390 billion as at December 2008. This figures indicate an increase of 10.07% in the 12 months period.

Surprisingly, the outstanding amount is reduced to CAD$51.611 billion as at February 2009, a decreased of 3.33%.

As of Q3 2008, the statistic shows residents in Ontario made up 45.46% of the outstanding credit card balances in Canada.

Click here for interesting statistics on Canadian credit cards including detailed outstanding credit card balances breakdown by province.