# First-Party Fraud Explained: Why More Canadians Are Lying to Get Credit

Page: https://stenobird.com/podcast/moolala-money-made-simple-with-bruce-sellery-325078/first-party-fraud-explained-why-more-canadians-are-lying-to-get-credit
Text version: https://stenobird.com/podcast/moolala-money-made-simple-with-bruce-sellery-325078/first-party-fraud-explained-why-more-canadians-are-lying-to-get-credit.md
Podcast: [Moolala:  Money Made Simple with Bruce Sellery](https://stenobird.com/podcast/moolala-money-made-simple-with-bruce-sellery-325078)
Published: 2026-05-20T10:52:00+00:00
Episode link: https://moolala.podbean.com/e/first-party-fraud-explained-why-more-canadians-are-lying-to-get-credit/
Audio file: https://dts.podtrac.com/redirect.mp3/mcdn.podbean.com/mf/web/fu88crizwkaqbzdb/ep2614_segment3-Cherolle-Prince.mp3
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Duration seconds: 726

## Resource

Cherolle Prince, Director of Fraud and Identity Management at Equifax Canada, unpacks the alarming rise of first-party fraud — when individuals misrepresent their own identity or inflate their income to qualify for credit. With economic pressures pushing more Canadians to the financial edge, Equifax data shows first-party fraud is up over 30% year over year, doubling in both credit cards and banking. Cherolle explains how AI-powered detection tools and lender collaboration are fighting back, and why this growing trend ultimately tightens credit access for everyone — even those who play by the rules. Connect on LinkedIn(Cherolle), X, Facebook, Instagram, YouTube, and LinkedIn(Equifax).

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## Transcript

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