OTTAWA—June is Seniors Month in Ontario and the 2023 theme is ‘Working for Seniors.’ The Ontario Provincial Police (OPP) would like to raise awareness about frauds that target Ontario seniors who have spent their entire life saving funds for their golden years. The OPP asks that everyone work collectively and to share important fraud prevention tips with seniors in your life.
“Being able to recognize frauds targeting seniors will go a long way in helping to combat cyber enabled frauds. With the public’s help we want to deliver information, tips and strategies for Ontario’s Seniors,” said Detective Constable John Armit, anti-rackets branch (ARB) with the OPP.
In 2022, the Canadian Anti-Fraud Centre (CAFC) received fraud reports totalling a staggering $531 million in victim losses. A devastating $138 million (26 percent) in losses were reported by senior victims. According to CAFC, seniors lose on average 33 percent more than other demographics. It is estimated that only five to 19 percent of victims report scams and frauds to the CAFC or law enforcement.
According to the CAFC, in 2022 the top frauds affecting seniors included: investment frauds which represented $79.1 million in reported losses in 2022. Ontario victims reported losing over $36.5 million; romance frauds represented $19.5 million in reported losses in 2022 with Ontario victims reporting losses over $8.8 million; Service scams represented $8.5 million in reported losses in 2022 with Ontario victims reporting losing over $6 million. Extortion frauds represented $7.7 million in reported losses in 2022 with Ontario victims reporting over $542,000 in losses; Emergency-grandparent scams represented $7.1 million in reported losses in 2022 with Ontario victims reporting losses of over $4.3 million.
The OPP encourages the public to visit the CAFC website to learn more about the frauds mentioned above www.antifraudcentre-centreantifraude.ca.
“Remember, if you fall victim to a fraud or know someone who has, contact your local police service to report the crime and report it to the CAFC at 1-888-495-8501 or online on the Fraud Reporting System (FRS), even if a financial loss did not occur,” the OPP release states.
