March 25, 2025

Online scams cost Canadians millions - know the warning signs

Social media is a powerful tool for communication, business and information sharing, but it is also being used to commit fraud. Fraudulent accounts, deceptive advertisements and impersonation tactics are being used to steal personal information, access financial accounts and pressure individuals into making payments. These cyber-enabled crimes continue to evolve, costing Canadians millions each year.

How Fraud Occurs on Social Media

Phishing fraud - Fraudulent accounts pose as friends, family members or trusted organizations to trick users into sharing personal information or sending money.

Identity theft and fraud - Personal details and images are taken without consent to create fake profiles, apply for loans or sell counterfeit products under false pretences.

Online shopping fraud - Deceptive sellers advertise products or rental properties that do not exist, leading individuals to send payments for goods or services that never arrive.

Investment fraud - Social media posts promote fake cryptocurrency opportunities that promise high returns. Once funds are transferred, they become nearly impossible to recover.

How to Protect Yourself

• Adjust your privacy settings from public to a more restricted option. Do not overshare sensitive information, including financial details or travel plans.
• Be cautious of friend requests from people you do not know. Beware of profiles with few connections or little activity.
• Ask specific questions and look for inconsistencies in responses. Be wary of individuals who always have an excuse for avoiding in-person meetings.
• Complete a reverse image search to check if a profile photo is being used elsewhere.
• Watch for bot-like accounts that post frequently but rarely engage in conversations.
• Spot fake accounts by looking for high follower counts but low engagement, rapid engagement rates or few original posts.
• Block and report any account that harasses or threatens you.
• Never send money, gift cards or cryptocurrency to someone you have never met.
• Use strong passwords or passphrases and never share your login details.
• Report fraud, abuse or spoofed profiles directly through the social media platform.

For more information on fraud prevention, visit opp.ca and sfo.opp.ca.

If you suspect fraudulent activity or have been a victim of fraud, report it immediately to your local police and the Canadian Anti-Fraud Centre at 1-888-495-8501 or online via the Fraud Reporting System.

 

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