Last year, all frauds committed in Canada totaled $530 million in losses to victims, an increase of nearly 40% compared to 2021, when $380 million was stolen.

According to Jeff Horncastle, Outreach and Communications Officer at CAFCboth the number of victims and the sums stolen continue to grow.

In 2021 the CAFC processed complaints from 323 victims; a year later, 1,100 people came forward to denounce the crime they had suffered. Additionally, the Center for Fraud Prevention estimates that only 5% to 10% of people who have been victims of fraud report it, suggesting even more astronomical losses.

The “grandparent” scams alone, which have been around for a number of years, have caused more than $9.2 million in thefts, according to the country CAFC. This is a significant increase from $2.4 million in 2021.

More than half of those losses ($5.4 million) were recorded in Ontario, and thanks to this type of fraud, $1.1 million was stolen in Alberta. After Quebec, British Columbia and Manitoba complete the quintet of hardest hit provinces with losses of more than $322,000 and $313,000 respectively.

Fraudsters rely on necessity

In the case of a “grandparent” type scam, the scammer communicates with their prey, often a vulnerable elderly person, and feigns an emergency. He is pretending to be a family member, usually a grandchild, or even an attorney or law enforcement official calling on behalf of a loved one who is in an emergency situation that requires payment, such as bail.

By pretending to be a loved one in need, they tap into our fears and rob seniors across the province of thousands of dollars every day. The best protection against this type of fraud is awareness and informationDominic Chong, director of financial crime services for the Ontario Provincial Police, who is also involved in the awareness campaign, said in a press release.

” Scammers take advantage of our emotions and caring nature. »

awareness above all

Several tips, newsletters and social media posts will be circulating throughout the week to educate Canadians about this type of scam.

We suggest that citizens who know an elderly person who is likely to be the target of such scams should discuss the issue with them and explain what to do if they receive such a call. The Canada Anti-Fraud Center recommends using a code word to verify the authenticity of the person on the phone.

The Canadian Anti-Fraud Center encourages any victim of fraud to report the crime to the local law enforcement department and their associates at 1-888-495-8501 or online through the Fraud Reporting System, even if no financial loss has been incurred.