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Fraud Awareness Month: Some Quick Facts

Monday, March 07, 2022 8:14 PM | Anonymous

Toronto, ON. The ACFE-GTA Chapter is holding their annual Fraud Awareness Month training event on Wednesday March 9, 2022 by Zoom. Interested parties can register for the program here.

The RCMP, in conjunction with the Canadian Anti-Fraud Centre (CAFC), has recently released some "quick facts about fraud" that citizens and fraud examiners alike, might find helpful:

  • The CAFC estimates that only 5% of fraud cases are reported.
  • Based on reports to the CAFC, the scams that resulted in the highest financial loss in 2021 were investment scams, with losses exceeding $113 million. This was a new trend seen by the CAFC, with a noticeable increase in cryptocurrency investment scams.
  • Based on reports to the CAFC, the top five most reported scams and fraud in 2021 were extortion, phishing, merchandise scams, service scams and vendor fraud.
  • By reporting to the CAFC, you are assisting law enforcement by contributing to a national repository of information to assist investigations and support prevention and disruption efforts.

  • For more information, see the full news release here.

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