Fraud Prevention Month

WOODSTOCK, ON (March 7, 2023) – March is Fraud Prevention Month – know what fraudsters are up to in order to protect your information and assets. Fraudsters continue to evolve their methods of targeting and victimizing people of all ages, particularly when it comes to cybercrime as more people rely on technology every day.

According to the Canadian Anti-Fraud Centre (CAFC), in 2022, the frauds affecting Canadians the most on a daily basis were investment frauds, romance frauds, spear phishing frauds, service frauds, and extortion frauds. Combined these frauds were responsible for the loss of over $464.5 million, over $190 million of that from victims in Ontario.

Fraudsters continue to advance their use of technology, making it difficult to determine what is and is not legitimate. They are spoofing phone numbers, websites and send out phishing text messages and emails with remote entry software to access devices and computers. These tools allow fraudsters to appear as legitimate agencies or businesses to gain the trust of their victims.

Recent reports of fraud to the Woodstock Police Service include the fraudulent use of credit card after a purse was reported stolen and a sextortion incident. In the event of a stolen purse or wallet, report the theft to police immediately and cancel all banking cards. Police caution social media users, especially youth to be wary of sextortion scams where a fraudster will request intimate images/videos then threaten to expose the intimate content online if the victim does not transfer money or more intimate content to the fraudster. 

For more information about fraud trends in Canada and prevention tips, visit www.antifraudcentre-centreantifraude.ca