Introduction

Fraud can happen to anyone. It doesn’t matter your age, education, income, or background—no one is immune. Fraudsters are skilled at deception, using convincing stories, fake documents, and carefully crafted messages to appear trustworthy.

Fraud isn’t always obvious. It can show up as a fake investment promising high returns, a phishing email pretending to be your bank, or a phone call claiming to be from a government agency. Sometimes it’s a slow build of trust, with the fraudster posing as a friend, colleague, or even a romantic partner.

What makes fraud so effective is how it targets normal human reactions—trust, fear, excitement, or even a desire to help. Fraudsters often create urgency, pressuring you to act before you have time to think or verify their claims.

Recognizing the signs of fraud and taking a moment to pause before responding can make a big difference. Staying cautious doesn’t mean living in fear—it means staying informed, asking questions, and protecting yourself and those around you.

About Fraud

What is fraud?

Fraud is when someone attempts to deceive you for their own personal gain.  It can show up as a fake investment promising high returns, a phishing email pretending to be your bank, or a phone call claiming to be a government agency. Sometimes, the scammer will pose as a friend, colleague, or even a romantic partner.

Common Targets for Fraud

• Senior

• Non Finance Background

By far, the most vulnerable group to fraud are people between the ages of 50-59, with the second most common group being elderly individuals over 60. However, fraud can happen to anyone. It doesn’t matter your age, education, income, or background—no one is immune.

The impact of fraud so far this year

As of June 30, 2025

• Reports processed:
  24,411
  (51,676 in 2024)

• Victims of fraud:
  17,094
  (36,228 in 2024)

• Lost to fraud:
  $342 M (as of July 2025)
  ($647 M in 2024)

Red Flags

Unknown Contact

Always be wary of any unknown contact that is reaching out to you. Do not respond to requests for sensitive information, money transfers, or jobs offers you did not apply for.

Information Mismatch

If a service provider is trying to contact you, the website they link might be legitimate. However, the sender’s address will be incorrect. Unofficial accounts or spelling errors are both red flags.

Unexpected Earnings

Anything too good to be true almost always is. Look out for messages promising lottery winnings and free gifts. Do not click on any attachments on these emails. 

Aggressive Language

If you are contacted by someone using urgent or threatening language, they are pressuring you to make a decision before realizing it’s a scam. Law enforcement officers will never call your number for serious inquiries.

General Prevention Methods

• Hang up calls and call them back using the phone number on the website

• Be careful – some scammers spoof phone numbers!

• Never give banking information or personal details over the phone

• Do not make financial decisions on the spot – scammers use sales tactics to rush you

• Avoid clicking on suspicious links or attachments

• Regularly check for unexpected changes or unauthorized transactions in your bank account

Identity Fraud

When someone (an identity thief) uses your personal information to impersonate you and commit fraudulent activities under your name

Sensitive information such as name, address, date of birth, social insurance number

Identity thieves can take over the victim's financial accounts, open new bank accounts, transfer bank balances, apply for loans, credit cards and other services, purchase vehicles, take luxury vacations, etc.

Prevention Methods

• Never give out your personal information unless absolutely necessary 

• Destroy personal information; don’t just throw it out

• • Shred old bills, statements, credit/ATM cards, etc.

• Don't leave your personal details lying out in the open

• Immediately report lost or stolen credit cards and any discrepancies in your monthly statements to the issuing credit card company

Service Fraud

Any false, deceptive, or misleading promotion or solicitations for paid services.

Examples of service scams:

• Financial services

• Telecommunications (Internet, cable or cellphone service providers)

• Tech support scams

• Immigration scams

• Home services and equipment

• Air duct cleaning

• General contracting or home maintenance

The two most reported service scams targeting Canadians are the antivirus software scam (Microsoft/Windows Technician) and lower interest rate scams.

Prevention Methods

• Do not trust anyone who calls and claims your computer is infected with a virus

• Never give anyone remote access to your computer

• Beware of scammers advising you of an unauthorized charge on your credit card account and requesting your credit card number.

• Verify any calls with your credit card company by calling the phone number on the back of your credit card.

• If it sounds too good to be true, it most likely is

Investment Fraud

Any false, deceptive, misleading or fraudulent investment opportunity, often offering higher than normal true monetary returns.

(cryptocurrency, fixed income stock opportunities, “business opportunities”)

Prevention Methods

• Pyramid and Ponzi schemes may be sent to you from family members and people you trust. They might not know they're involved in a scam or that the schemes could be illegal.

• Be wary of fraudsters requesting large wire transfers to foreign countries for an offshore investment.

• Never commit to anything at high-pressure meetings or seminars.

• Be wary of fraudsters promising an investment opportunity with a higher than normal return.

• Be an informed investor and check with your provincial securities regulator.
  
  

What to do if you’re a victim of fraud

If you think you or someone you know has been a victim of fraud, please contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or report online at Canadian Anti-Fraud Centre. Also, report the matter to your local RCMP/police of jurisdiction detachment.

• Gather all key info about the fraud

• • Relevant screenshots, text messages, and emails

  • Take note of who approached you, what they asked for, and when this happened

• Always contact the police if you have lost money or gave personal information

• Change your passwords

• Contact your bank to freeze your account if your banking information was compromised

• Report the incident to Canadian Anti-Fraud Centre (1-888-495-8501)

• Contact Canada’s national credit bureaus

• • TransUnion (1-800-663-9980) and Equifax (1-800-465-7166)

  • Ask to place a fraud alert on your file