Romance scams are on the rise according to the Ontario Provincial Police.
Last year, $59 million was lost to fraudsters due to the romance scam, Ontario accounted for $20 million.
Fraudsters will enter into an online relationship with victims and convince them they are in a real relationship. They will avoid meeting in person or chatting through video chat.
Eventually, after gaining the victims trust, they will ask for money. They will make up an excuse like they have a family emergency, a medical emergency or they need money for travel.
Never give out personal information like your name, address, your birthday, SIN number or banking credentials.
Do not accept friend requests from people you haven’t met. It is especially important to never invest money on platforms provided by someone you don’t know. Never send money to someone you don’t know.
Be careful who you share images with. Fraudsters will often use explicit photos to extort victims into sending more money. Do not respond to text messages and phone calls from unknown numbers.
It’s estimated that only 5-10% of fraud scams are reported to the Canadian Anti-Fraud Centre or law enforcement. In 2022, $530 Million was reported in victim losses. That is a 40% increase from 2021.
If you fall victim to fraud or know someone who has, contact your local police service to report the crime and also report it to the CAFC at 1-888-495-8501 or online on the Fraud Reporting System (FRS), even if a financial loss did not occur.
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