Fraud: recognize it, reject it, report it

Haldimand County residents are no stranger to scams. While we may enjoy the benefits of smalltown living, crime exists everywhere and fraudsters have become increasingly good at doing bad from all across the world.

Cons and scams are attempted daily through online platforms, by phone, by letter mail, and by fax. The reality is that fraud is a multi-million-dollar enterprise that will only end when the con artists stop making money.

Haldimand County OPP reminded residents to continue watching out for cons and scams earlier this year after a resident lost $140,000 to a crypto scam after responding to an online ad from a social media platform for an investment opportunity.

If you are considering an online investment, the Haldimand OPP wants you to be absolutely sure who you are dealing with. Once you send cryptocurrency, it’s gone.

Like any suspicious offer, take the time to really consider what is being offered.

Learn about the cryptocurrency you want to invest in and truly understand it. Some may have suspicious rules like not being allowed to sell for two years (you should be allowed to buy and sell at any time).

Like anything, consider the source of this advice. Can I trust this stranger I’ve never met with my personal information and large sums of money just because they’re saying what I want to hear? If I told someone I trust about this offer, would they believe it’s legitimate?

Don’t fall for the hype! Typically, online advice is speculative and misrepresents the investment returns. No one can guarantee a quick, high return on cryptocurrency with little to no risk. 

Don’t click the bait! Just because you found an ad online does not mean they’re legitimate. Anyone can buy online ads.

Ignore unsolicited investment opportunities offered by strangers through apps and social media. If a stranger is coming to you with an opportunity, they are likely not legit.

If they ask for a wire transfer or for your crypto assets to be sent to another platform or an unknown account, it’s likely a scam.

Never give remote access to your computer and do not download a mobile app that a stranger has directed you to do.

Another rapidly growing con is the ‘grandparent scam’ – aimed at convincing seniors that a loved one is in financial need so they can steal those funds.

In 2022, the OPP responded to 348 incidents involving emergency scams across Ontario – a 222% increase compared to 2021 – with thieves defrauding Ontarians of over $5.4 million in 2022 through these scams.

The typical emergency scam sees the victim receive a frantic phone call from someone claiming to be a loved one or claiming to help their loved one. The caller will say the person’s loved one was involved in an emergency – such as an accident or arrest – and demands the senior provide immediate payment for support, bail, legal fees, fines, or other amounts “owed”. Fraudsters isolate victims by telling them not to discuss the matter with others, perhaps citing a court-imposed gag order. Scammers tell victims to withdraw cash from their financial institution and hand it over to a courier sent to the victim’s home, or they have the victim send the money via courier services.

To avoid becoming a victim, police advise you to first check with a trusted family member or friend to verify the information BEFORE sending money or providing credit card information. 

Always remember: do not give your personal information (name, address, credit card information, government identity documents, etc.) to strangers.

Fraudsters have many ways to appear legitimate. They can create spoofed websites, use spoofed telephone numbers to mimic legitimate numbers, or send out phishing texts pretending to be businesses or governments offering refunds. Being able to recognize these techniques will go a long way in helping to combat cyber enabled frauds.

Anyone interested in more information on fraud can contact the Canadian Anti-Fraud Centre (CAF) at 1-888-495-8501 or check online at antifraudcentre.ca.

It is vitally important that every fraud incident be reported to allow police to investigate and prevent others from becoming victims. If you fall victim to a fraud or know someone who has, contact the Haldimand OPP at 1-888-310-1122 to report the crime and also report it to the CAFC, even if a financial loss did not occur.