Top 10 frauds in Canada, 2019

Canadian currency

Reportedly, Canadians lost nearly 100 million CA$ to fraud in 2019.

According to the Canadian Anti-Fraud Centre (CAFC), the organization received 46 465 reports of fraud from consumers and businesses last year. The total reported losses from fraud were 96 163 328.64 CA$. The number, however, is likely much higher because the agency says less than five percent of fraud victims report their incidents.

Top 10 frauds of 2019 by the number of reports:

  • 1. Extortion
  • 2. Personal Info
  • 3. Phishing
  • 4. Service
  • 5. Merchandise
  • 6. Sale of merchandise
  • 7. Job
  • 8. Prize
  • 9. Bank Investigator
  • 10. Romance

Top 10 frauds affecting Canadians ranked by dollar loss:

  • 1. Spear Phishing
  • 2. Romance
  • 3. Investments
  • 4. Extortion
  • 5. Service
  • 6. Prize
  • 7. Bank Investigator
  • 8. Sale of merchandise
  • 9. Merchandise
  • 10. Timeshare

The CAFC has provided the following top tips to help protect yourself from fraud.

  • – Create strong passwords for each of your accounts.
  • – Set up multi-factor authentication to make it more difficult for someone else to access your accounts.
  • – Update the privacy settings attached to your social network accounts.
  • – Be familiar with the terms of service and how payment methods work before using them. Look for a fraud protection policy.
  • – Never, under any circumstance, accept money and send money to a third party. You may, unknowingly, be participating in money laundering which is a criminal offense.
  • – Avoid reacting automatically. Take five minutes to ask additional questions and listen to your instincts. If something doesn’t seem right, ask someone else about it.
  • – Remain current on frauds and protect others by sharing what you know.
  • – Do not trust the information on your call display because it can easily be manipulated.
  • – Do not provide your personal or financial information on demand.
  • – Do not open an attachment or click a link in an unsolicited email or text message.

Source: Twitter.com/canantifraud

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- 18 February 2020 - EN