March marks Fraud Prevention Month, and the spotlight’s on the five scams that hit Canadians hardest last year. The Canadian Anti-Fraud Centre reports a staggering $642 million lost to fraud in 2024—smashing the prior year’s $578 million record. Many cases still fly under the radar.
Online trickery fueled 75% of those losses, a sign of crooks sharpening their digital game. To fight back, the Ontario Provincial Police (OPP) Anti-Rackets Branch and Serious Fraud Office launched their 2025 campaign, “The Masks of Fraud,” arming Canadians with know-how to spot, dodge, and report rip-offs.
“Fraud’s a moving target, and we’ve got to keep pace,” said OPP Detective Superintendent Mike Bickerton. “Teaming up with police, businesses, and communities, we’re bolstering defenses, aiding victims, and chasing down the culprits. This month’s a chance for everyone to wise up and shield themselves—and each other.”
Here’s the Canadian Anti-Fraud Centre’s rundown of 2024’s top five scams:
1. Investment Rip-Offs
Scammers dangle fake investment deals promising sky-high returns, only to vanish with the cash. Canadians got burned for $310 million nationwide, with Ontarians alone losing over $102.7 million.
2. Spear Phishing Strikes
Posing as trusted contacts, fraudsters spoof emails to trick people and businesses into wiring money. This slick con racked up $67.2 million in losses across Canada, including $39.5 million from Ontario victims.
3. Romance Ruses
Love turns costly when scammers build fake online relationships via emails, social media, or dating sites. They tug heartstrings for cash—think urgent travel or medical pleas—or rope victims into shady crypto schemes. Losses hit $58.4 million nationally, with Ontario coughing up over $19 million.
4. Bogus Job Offers
Fraudsters impersonate real companies, luring victims with freelance gigs. Some deposit “earnings” into crypto wallets that lock tight; others push counterfeit cheques, leaving victims to foot the bill. This scam swiped $47.1 million across Canada, with Ontario down $14.8 million.
5. Extortion Emails
Threats roll in with personal details—names, numbers, addresses—claiming victims hit explicit sites. Pay up in crypto, they demand, or a supposed video goes viral. Losses reached $21 million nationwide, including $6.8 million from Ontario.
Dig deeper at the Canadian Anti-Fraud Centre’s site or opp.ca. Suspect a scam or been hit? Tell your local police and the Anti-Fraud Centre at 1-888-495-8501 or their online Fraud Reporting System.