Revealing ‘The Masks of Fraud’
“The Masks of Fraud is the theme for this Fraud Prevention Month.
The Ontario Provincial Police (OPP) Anti-Rackets Branch and Serious Fraud Office says this year’s campaign reveals the deceptive techniques used to commit fraud in today’s digital age.
Their aim is to equip Canadians with the information, tools and strategies they need to recognize, reject and report fraud.
Last year, the Canadian Anti-Fraud Centre (CAFC), located in North Bay, received fraud reports resulting in $642 million in victim losses, surpassing the previous record, set in 2023, by $64 million.
“Fraud is constantly evolving, and our collective response must evolve with it. By working with partners in law enforcement, industry and the community, we are strengthening fraud prevention, supporting victims and holding those responsible accountable,” says Detective Superintendent Mike Bickerton, OPP. “Fraud Prevention Month is an opportunity for everyone to learn how to recognize the signs of fraud and take action to protect themselves and others.”
While many incidents go unreported, the OPP and CAFC continue to encourage individuals and businesses to report fraud.
They say reporting helps identify crime patterns, support investigations and prevent others from falling victim.
According to the CAFC, the five most common frauds impacting Canadians in 2024 were:
- Investment fraud represented $310 million in reported losses.
- Spear phishing fraud (Business Email Compromise) represented $67.2 million in reported losses.
- Romance fraud represented $58.4 million in reported losses.
- Job scam represented $47.1 million in reported losses.
- Extortion fraud represented $21 million in reported losses.