As the new year begins, police are warning Ontario residents to remain vigilant as fraudsters continue to use phone calls, online platforms and social media to steal money and personal information.
Authorities say the following three scams are among the most commonly reported across the province in January.
Bank impersonation and cryptocurrency ATM scam
A sophisticated scam is increasingly targeting seniors through pop-up computer alerts, phone calls and fake bank representatives.
Victims are falsely told their bank accounts have been compromised. Scammers posing as financial institution officials then instruct individuals to withdraw money, cash in insurance policies or purchase cryptocurrency, claiming the funds are being secured or used to trace hackers.
In some cases, victims are directed to deposit cash into cryptocurrency ATMs or hand over valuables such as gold at prearranged meetups. Fraudsters reassure victims that the money will be returned once a supposed “bank investigation” is complete — which never occurs.
Police stress that legitimate banks will never ask customers to withdraw cash, deposit money into cryptocurrency machines or transfer valuables as part of an investigation.
Romance scams
Romance scams continue to target people through dating apps and social media platforms.
Fraudsters build trust by forming online relationships before claiming financial hardship or promoting fake investment opportunities. Victims are then persuaded to send money through e-transfers, cryptocurrency ATMs or other digital payment methods.
Police say these scams often involve repeated requests over weeks or months, with fraudsters disappearing once funds are sent. Residents are urged never to send money to someone they have not met in person and to be cautious of online relationships that quickly involve financial demands.
Online investment scams
Online investment scams are frequently promoted through social media advertisements and messaging apps.
Victims are directed to professional-looking websites claiming to offer stock or cryptocurrency investments. Scammers may allow victims to view fake “profits” on online dashboards to build trust before requesting larger deposits.
In some cases, victims are told they must pay additional fees or commissions from their personal bank accounts before being allowed to withdraw profits.
Police advise residents to independently verify investment platforms and avoid sending money to individuals or companies they cannot confirm as legitimate.
Authorities also remind the public to be cautious of unsolicited calls, texts, emails or online messages that demand urgent action.
Anyone who believes they may be a victim of fraud is encouraged to contact local police and report the incident to the Canadian Anti-Fraud Centre at 1-888-495-8501 or through its online reporting system.