Fraud is big business in Canada — and it's only getting bigger.
According to figures collected by the Canadian Anti-Fraud Centre, which tracks scams and identity theft across the country, victims lost approximately $165 million in 2020. Three years later, that figure more than tripled to $569 million.
But here's the staggering part: that huge number represents only the small percentage of people who actually admit they've been scammed.
"We estimate that only five to 10 per cent of victims actually report to the Canadian Anti-Fraud Centre," said spokesman Jeff Horncastle, in a recent episode of our Inside the Village podcast. "That [$569 million] can be multiplied by 10 or 20, in reality."
From grandparent scams to romance frauds, phishing has become a daily part of life for any Canadian with a cellphone or email address.
March is Fraud Prevention Month in Canada, an opportunity for law enforcement and other agencies to educate people on how to recognize, avoid and report attempted frauds.
Tonight on 'Closer Look': We revisit our podcast episode with Horncastle, who explained why fraud is skyrocketing, how scammers are using generative AI to their advantage, and what you can do to protect yourself.
You can watch the full interview HERE.
Hosted by Scott Sexsmith and Michael Friscolanti, the Editor-in-Chief of Village Media, Inside the Village is a news and current affairs podcast that provides a weekly window into some of the best local journalism from across our chain of Ontario newsrooms. Produced by Derek Turner, the program also explores bigger-picture issues that impact people across the province.
Every episode is can be found HERE. If you prefer the audio version, it is available wherever you find your favourite podcasts.
Have something to say? You can reach us at itv@villagemedia.ca.
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Sudbury.com
these days you have to be very careful. better to hang up and call your grand children or his parents or even the police. as for the romance one if you just met someone on line and a few weeks later they ask you for money regardless the excuse they give you terminate that relationship asap. these people have more excuses.
SooToday.com
Maybe if Canada would dole out some severe penalties for these crimes, not just fraud, there would be a deterrent instead of the Liberal stance of reformation and rehabilitation!!!
Give me a break!!!
Ford promised in his election campaign in 2018 that he would build jails. Not one jail cell has been built in seven years, not one. In some cells that should hold four, there are seven or eight people. That actually is against the international human rights laws, and that is why so many judges ( unfortunately) have to let so many out on bail. If a case is taken to the international courts, we will pay billions. There are also innocent people that are in jail where bail has been denied.
Go yell at Ford. It’s not quite as profitable for all his developers to build jails.
Seven years. Not one cell built.
Sudbury.com
Krusto, how do you penalize people who are not in Canada. Shows how much you know. Blame the liberals when you're ignorant
SooToday.com
If you want to see a golden standard of reformation you need to look at norweigan jailing systems. They have the best jails that focus on education and life skill building instead of punishments, and why? They care more about treating the individual as a person and giving them opportunities instead of punishing them and putting them in a cyclic system where no one gets better.
SooToday.com
Ed. Rather be ignorant than support a Liberal!!
SooToday.com
Krusto then you're exactly the same as any liberal you complain about. Congrats.
SooToday.com
Krusto, there's no need to descend into an American mindset. Be prepared to defend your beliefs.
GuelphToday.com
Got a text from a different phone number…re I’m delinquent on a charge for hwy 407….thats a new one..
SooToday.com
I got the same one. Also I received 2 saying that someone used my Apple Pay and charged $457.00. I should call if wasn’t me. Not a chance
SooToday.com
Crime has become way more sophisticated
SooToday.com
Wonder why
ElliotLakeToday.com
A call and you don't recognise the number? Don't answer!
If it's really for you they will leave a message. If they don't leave a message block the number!
A text you don't recognise? Immediately block it and never click on a link.
If it says it's a bank or CRA or any other business immediately block the number.
They will send a letter
SooToday.com
A country governed by people that actually cared about making it better, safer, wealthier or more secure would dig in on this. They would pass tough legislation, encourage the courts to be tough on crimes like this. Instead we have the Liberal Party who cares more about identity politics than protecting it’s citizens. They never do the hard work. They are always playing catch up on an issue. Never proactive. Always late to be reactive.
SooToday.com
Hard to punish people from other countries who don't live or scam from Canada.
Best way to help is to have far more education in scams and how they work. Especially for seniors and younger people who are more prone to be scammed.
SooToday.com
How do you jail someone who is calling from Mumbai or Lagos ?
SooToday.com
Crime pays in Canada. Until there is a change in penalties for committing crimes, nothing is going to change.
SooToday.com
Most of these scams are run from other countries. How are we supposed to punish people in other countries? Crime pays when people like seniors and you her people aren't educated on them and are new to technology. Education for seniors who are the biggest number of people scammed by these scams is needed far more than we have it now.
SooToday.com
Blame the soft Liberals that are now headed up by CARBON TAX CARNEY!!!
SooToday.com
Most of these scams are from other countries. Seniors are the number 1 targets and hit the hardest. Seniors need education on scams and how to avoid them. Especially with more and more technology coming out. Free classes would be a great start. Maybe run by a few police officers and technology educators.