Northumberland OPP is warning residents to stay vigilant as fraud-related financial losses in Canada continue to rise, with the Canadian Anti-Fraud Centre (CAFC) reporting $638 million lost in 2024.
This marks a steady increase from $577 million in 2023 and $531 million in 2022, and police say the real numbers may be much higher, as only 5 to 10 per cent of fraud cases are reported.
Investment fraud was the leading cause of financial losses in 2024, accounting for $310 million nationwide, including nearly $103 million lost in Ontario alone. Other major fraud types included spear phishing scams ($67 million) and romance scams ($58 million). Identity fraud and service fraud were among the most commonly reported scams.
Police urge residents to recognize fraud red flags, including unsolicited investment offers, urgent payment requests, and emails from unknown senders requesting sensitive information. Identity thieves often steal personal data through phishing, mail theft, or online scams.
To protect yourself, never share personal information with unknown sources, research investment opportunities before committing, and verify financial transactions directly with institutions. If you suspect fraud, report it immediately to your local police and the CAFC at 1-888-495-8501 or online at antifraudcentre-centreantifraude.ca.
By staying informed and taking precautions, residents in Northumberland and across Ontario can help prevent fraud and reduce financial losses.
(Written by: Joseph Goden)