Protect your money from fraud

Members of the OPP and the Canadian Anti-Fraud Centre (CAFC) continue to raise awareness about the various scams that Canadians may encounter on the telephone or online.

October is Cyber Security Awareness Month, and this year’s theme is Get Cyber Safe – for future you. Cyber threats are constantly evolving, and so are the tactics fraudsters use to exploit Canadians.

The Canadian Anti-Fraud Centre (CAFC) reminds Canadians that cybersecurity isn’t just about protecting your devices; it’s also about protecting yourself from fraud. By learning how criminals operate and taking simple steps, you can develop strong cyber habits that will safeguard your money, identity, and future.

This week, we are looking at protecting yourself from investment fraud. While investing can be a smart way to plan for the future, criminals exploit Canadians through promises of guaranteed returns, risk-free crypto investment platforms, and by using fake endorsements. About Investment and Crypto Investment Fraud:

• Fraudsters use social media ads, text messages, emails, and fake trading platforms to lure Canadians into sending money.
• They may impersonate politicians, celebrities, financial advisors, or government agencies to gain trust.
• Once money is sent, it’s often transferred overseas and is very difficult to recover.

How to protect yourself from investment fraud:

• Be suspicious of any investment with “guaranteed” or “risk-free” returns.
• Never send money based on pressure or urgency.
• Verify if the investment companies are registered with your Provincial Securities Agency or the National Registration Search Tool.
• Prior to investing, ask for information on the investment. Research the team behind the offering and analyze the feasibility of the project.
• Be wary of individuals met on dating or social media who attempt to educate and convince you to invest in cryptocurrency.
• Beware of fraudsters asking you to open and fund new crypto accounts. They will direct you to send it to wallets they control.

Anyone who suspects they have been the victim of cybercrime or fraud should report it to their local police and to the Canadian Anti-Fraud Centre’s online reporting system or by phone at 1-888-495-8501. If not a victim, you should still report the incident to the CAFC.

You can follow the Canadian Anti Fraud Centre on Twitter  (@canantifraud) and Facebook   (Canadian Anti-Fraud Centre)

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