Fraud continues to affect people across Canada. According to the Canadian Anti-Fraud Centre (CAFC), Canadians reported approximately $351 million in fraud losses during the first six months of 2026 alone.
And because many incidents go unreported, the true impact is likely much higher.
Fraudsters often impersonate trusted organizations such as banks, government agencies, police, or businesses, and they use urgency and pressure to convince people to send money or share personal information.
Common Fraud Trends
The CAFC reports that investment fraud, spear phishing, bank investigator fraud, extortion, and recovery fraud are among the most active scams in 2026.
Investment scams continue to cause the highest financial losses, while recovery scams target people who have already lost money by falsely offering to help recover funds for a fee.
Red Flags to Watch Out For
- Unexpected requests for money or personal information
- Pressure to act immediately or keep information secret
- Requests to change banking or payment information
- Investment opportunities promising guaranteed returns
- Requests for passwords, verification codes, or remote access to your device
Protect Yourself
- Slow down and verify unexpected requests.
- Contact organizations using trusted contact information you find yourself.
- Never send money to a “safe account” or pay upfront fees to recover lost funds.
- Talk to a trusted person if you feel pressured to act quickly.
Report Fraud
If you believe you have been targeted by fraud, contact your financial institution and local police, and report the incident to the Canadian Anti-Fraud Centre.
Phone: 1-888-495-8501
Website: https://antifraudcentre-centreantifraude.ca
Online Reporting: https://antifraudcentre-centreantifraude.ca/report-signalez-eng.htm
Learn More About Frauds and Scams
Seniors First BC and BC CRN offer free Frauds and Scams presentations, both virtually and in person.
These presentations provide practical tips to help people recognize scams, protect themselves, and know where to report fraud.
To book a presentation, visit https://bccrns.ca/programs/program-request or email programs@bccrns.ca.
