
Fraud
Prevention
Month
Know the signs
Lost to fraud:
$530,000,000
Reports of fraud:
90,137
Victims of fraud:
56,352
Reported fraud to Canadian Anti-Fraud Centre as of Dec. 31, 2022
Every day in Canada people permanently lose money to scammers.
More than a half a billion dollars was reported lost to fraudsters last year. The actual losses are much higher because only about 5 to 10% of frauds are reported.
March is Fraud Prevention Month.
Protect your money and your family.
90-95%
of frauds go unreported.
Have You Been Defrauded?
You’re not alone.
Warning signs of fraud include:
You are promised high returns with little or no risk
You get a hot tip or insider information
You feel pressured to buy
They’re not registered to sell investments
How a fraudster might
approach you
There are many ways someone may try to separate you from your money. Learn more about the ways you could be contacted and tips to protect yourself.


Investor warnings and alerts
At the OSC, we continuously issue investor alerts and warnings about possible harmful or illegal activity in progress. We also maintain a list of companies or individuals performing activities that may pose a risk to investors.
Current Warnings and Alerts
Contact us to report fraud
If you think you may be the victim of investment fraud, you can contact the OSC:
- Phone: 1-877-785-1555
- Email: inquiries@osc.gov.on.ca
- Submit anonymously using our online form
You can also contact your local police or call the Canadian Anti-Fraud Centre at 1-888-495-8501.

Types
of scams
Know the signs
How scam smart are you?
Test your skills and knowledge with our quiz and resources so you know how to protect yourself.
Try our Scam spotter to keep your money safe
Protect yourself from identity theft
Questions to ask before following a finfluencer’s advice

Crypto Fraud
Know the signs
There has been a significant rise in investor complaints about crypto-related scams.
Since 2020, the OSC Contact Centre had a 270% increase in crypto-related complaints.
8 red flags of crypto fraud
- High pressure sales tactics: you keep getting multiple calls from the company telling you to act now or you’ll miss out.
- No trading experience needed: you’re told not to worry about a lack of trading knowledge. They tell you it’s all done automatically for you, so you don’t need to know anything.
- Trojan horse: you’re told to download an app on your computer that actually gives the fraudsters access to your computer (such as AnyDesk).
- Too good to be true: you’re shown online account details with unrealistic, rapid growth, to try and incentivize you to invest even more money.
- Guarantee of high returns: you’re promised unrealistic returns, such as 300% growth.
- Deceptive good looks: just because a website appears slick and professional, doesn’t mean it is legitimate. And just because a celebrity’s photo is on promotional materials, does not mean the famous face actually endorses the company.
- Paying more to get less: you’re told you must provide more money before you can make any withdrawals.
- Disappearing act: you can’t reach anyone when you make a request to withdraw money.

Real people. Real victims.

John
It began with an online ad. John thought he was investing $16,000 in Bitcoin. The senior citizen provided information that was used to create an online bank profile. The fraudsters withdrew money from his bank account. Fortunately, his daughter intervened — but not before he lost a lot of money.

Janelle
A simple click on a Facebook link and a phone number request. Janelle provided her number and was called by someone promising she could double her money in a crypto investment. She sent money but couldn’t reach the person she talked to when she tried to withdraw it. She lost $1.4 million. The money had been set aside for treatment for her terminal illness and for her to leave to her children.

Tannis
Tannis saw an online crypto currency ad with a picture of someone famous. Intrigued, she clicked the link, provided her contact information and invested. When she tried to withdraw her funds, they told her to pay more money for “taxes and margin issues.” She paid but then was unable to reach anyone or access her account.

Warren
Warren is a dentist who was intrigued by online ads offering fantastic profits in crypto. He clicked on one ad and invested a small amount. He was impressed by how much his offshore online account was making. Being careful, he successfully withdrew $500. Warren then invested $25,000, confident his investment was safe. Later he tried to withdraw $3,000, and he was told to pay $1,500 to cover fees. After paying, the company stopped responding to his emails and Warren never recovered any of his money.
Crypto Quiz
Are you considering investing in crypto assets, but aren’t sure whether it’s right for you, legal or just a scam? Test your crypto knowledge and learn how to spot the warning signs of fraud.
Get Smarter About Crypto
I’m the Crypto Chameleon.
I’ll be your guide through the ever-changing world of crypto, to make things a little less…cryptic!

Partners
In the fight against fraud
We’re proud to work with our partners across Canada to help prevent financial fraud, both online and in your communities.
(Reproduced with the permission
of the Ontario Provincial Police)
Ontario Provincial
Police
Peel Regional
Police
Canadian Anti-Fraud
Centre
Royal Canadian
Mounted Police
Durham Regional
Police
York Regional
Police
Financial Consumer
Agency of Canada