March is Fraud Prevention Month

Fraud is one of the fastest growing crimes in Canada. In January and February alone, Guelph Police Service has received more than 100 reported incidents of fraud.

The Canadian Anti-Fraud Centre (CAFC) was established in 1993 and is the central repository for data, information and resources related to fraud in Canada. The CAFC’s areas of focus include:

• prevention of fraud through education and awareness
• prevention through disruption of key fraud enablers
• providing operational support to investigations by sharing fraud-related reports
• intelligence with law enforcement and regulatory partners

Fraud Prevention Month helps raise awareness amongst Canadians so they can better protect themselves from fraud. Each week in March, the Canadian Anti-Fraud Centre is highlighting themes to help Canadians learn more about this increasingly sophisticated and complex crime.

This week’s theme is The Rise of Fraud.

While the number and complexity of frauds is growing, these crimes remain significantly under reported. Victims of fraud suffer financial loss, emotional distress and long-term psychological harm.

Based on reported frauds to the Canadian Anti-Fraud Centre (CAFC), the frauds with the most impact on Canadians include:

• Investment Fraud: Fraudulent investment platforms and fake advisors promising high returns. 
• Relationship and Romance Fraud: Fraudsters build trust online and convince victims to send money. 
• Identity Fraud: Fraudsters use stolen personal information to open accounts and/or take over existing ones. 
• Phishing: Fraudulent emails or text messages designed to steal personal and financial information. 
• Recovery Fraud: Fraudsters claim they can recover lost money for a fee but steal even more.

These frauds are carefully designed to look legitimate. Fraudsters use pressure, fear, urgency, and emotion to manipulate their victims.

Anyone who suspects they have been the victim of cybercrime or fraud should report it to the Canadian Anti-Fraud Centre’s online reporting system or by phone at 1-888-495-8501. Even if no financial loss has been sustained, interactions can still be reported to the CAFC.

If you’ve lost money to a scam or you’ve been the victim of identity theft over $25,000, please call Guelph Police Service at 519-824-1212 to report it. Find out how to report losses under $25,000 on thenon-emergency reporting page.