Fraud Prevention Month 2023: Fraud losses in Canada reach another historic level
February 27, 2023 By Blue Line Staff / Royal Canadian Mounted Police
Feb. 27, 2023, Ottawa, Ont. – In the past decade, technology has completely transformed the criminal landscape, making fraud easier to commit, more widespread and more sophisticated than ever before.
In 2022, the Canadian Anti-Fraud Centre (CAFC) received fraud and cybercrime reports totalling $530 million in victim losses. Nearly a 40 per cent increase from the unprecedented $380 million in losses in 2021. Unfortunately, the increase in financial loss isn’t tied to an increase in reporting—the CAFC estimates that only 5 to 10 per cent of people report fraud.
The CAFC, the Royal Canadian Mounted Police, and the Competition Bureau are once again joining forces this March to lead the 19th edition of Fraud Prevention Month. Under the theme “Tricks of the trade: What’s in a fraudster’s toolbox?”, this year’s campaign will expose fraudsters’ tricks, tools and tactics, to help Canadians equip their own toolbox to protect themselves.
While law enforcement agencies and members of the Fraud Prevention Forum are committed to strategically collaborating and dedicating resources to preventing and combatting fraud, Canadian consumers and businesses also have a huge role to play to help stop fraudsters. Education and awareness are the strongest line of defence against scams and fraud.
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