In 2020, the CAFC received 101,483 fraud reports involving nearly $160 million in reported losses. Moreover, 67,294 of the reports were from Canadian consumers and businesses, that reported losses totalling more than $104.2 million.

Top 10 frauds affecting Canadians based on number of reports in 2020:

Fraud Type	Reports	Victims	Dollar Loss
Extortion	17,390	6,689	$12.5 M
Identity Fraud	16,970	16,970	N/A
Personal Info	6,649	4,386	N/A
Phishing	3,672	1,167	N/A
Merchandise	3,354	2,728	$8.7 M
Vendor Fraud	2,320	1,478	$4.2 M
Job	2,297	1,035	$2.5 M
Service	2,009	1,241	$8.5 M
Spear Phishing	1,049	525	$14.4 M
Emergency	924	310	$1.0 M

Top 10 frauds affecting Canadians based on dollar loss in 2020:

Fraud Type	Reports	Victims	Dollar Loss
Romance	899	620	$18.5 M
Investments	501	428	$16.5 M
Spear Phishing	1,049	525	$14.4 M
Extortion	17,390	6,689	$12.5 M
Merchandise	3,354	2,728	$8.7 M
Service	2,009	1,241	$8.5 M
Vendor Fraud	2,320	1,478	$4.2 M
Prize	754	240	$3.5 M
Bank Investigator	835	340	$3.0 M
Job	2,297	1,035	$2.6 M

It is estimated that fewer than 5% of victims file a fraud report with the CAFC.

Many frauds today are designed to play on a potential victim’s emotions and get them to respond without thinking. They attempt to illicit responses based on panic, fear, desperation, elation, love which are often escalated by presenting urgent situations requiring immediate action. The slogan for fraud prevention is geared toward getting citizens in Canada to slow down and not react to potential fraud solicitations. We encourage people to recognize that fraudsters are using every means at their disposal to target them; telephone, email, text messaging, social media, internet and mail. We ask that they change how they react to the unsolicited offers or demands.

Rejecting fraud involves protecting your personal information and money. Routine practices to develop include checking credit profiles, monitoring accounts for unauthorized activities, updating operating systems and antivirus software, and not doing business over the phone. We want people to slow down, to think about and assess the situation before reacting. This can involve saying no, doing due diligence, researching and confirming information, and talking to family members and friends. We want to encourage people to take their time, and to scrutinize all offers and demands.

Reporting fraud means speaking up, even when no money was lost. Like other crimes, if fraud is not reported, we don’t know what is happening and can’t warn other people. The information from one fraud occurrence (a bank account, email address, virtual currency address, telephone number, etc) can be investigated and is useful in linking other occurrences. Moreover, reporting provides other opportunities for disruption. By reporting the information to the banks, money service businesses, email providers, telephone companies, dating websites, social media networks; steps can be taking to block or remove these fraudulent accounts and their content.

A few questions to ask yourself every time you are contacted for personal information. If any of the following apply, do not provide your information and seek advice.

• Is the call unsolicited? Was it expected or out of the blue?
• Are they asking you to confirm personal information such as your name, address, or account details?
• Are they looking for a fast or instant response?
• Are they asking you for money?
• Is the caller avoiding using the actual name or the company or financial institution?
• Are they offering you a prize, free gift, or trial?
• Are they claiming to be the police or investigating something?
• Does the email have an odd email address?
• Is the formatting strange or are there spelling mistakes?
• Are you being asked to change your password despite not sending a request to do so?

Fraud is evolving. A fraud can often carry on over an extended period of time and is a crime that is difficult to recognize and report. To make reporting easier the CAFC suggests completing the following six steps:

• Step 1: Gather all information pertaining to the fraud.
• Step 2: Write out a chronological statement of events.
• Step 3: Report the incident to your local law enforcement.
• Step 4: Report the incident to the CAFC through the Fraud Reporting System (FRS) or toll free at 1-888-495-8501.
• Step 5: Report the incident to the Financial Institution or Payment Provider used to send the money.
• Step 6: If the fraud took place online, report the incident directly to the appropriate website.