Losses still climbingUpdated 17 October 2026
Trend summary
- Reported fraud losses in Canada have risen every year since the pandemic, and investment scams now take about half the money.
- The Canadian Anti-Fraud Centre received over 112,000 reports and $704 million in losses in 2025, up from about $165 million in 2020.
- Investment fraud cost $351 million, followed by spear phishing, romance scams and job scams.
- The centre estimates that only 5-10% of frauds are reported, so the real figure is far higher.
$704M+reported fraud losses, 2025
$351Mlost to investment fraud, 2025
5-10%share of frauds that get reported
+61%police-reported fraud rate, 2025 vs 2015
What the numbers show
The Canadian Anti-Fraud Centre counted more than 112,000 reports and over $704 million in losses in 2025, against $638 million in 2024 and, in its annual reports, about $165 million in 2020, $379 million in 2021 and $530 million in 2022. Investment fraud was the costliest type and identity fraud the most reported. Losses reported since 2022 add up to more than $2.4 billion.
Police data tell a slightly different story. Statistics Canada reports that police-reported fraud fell 4% in 2025 to 492 incidents per 100,000 people, but that rate is still 61% higher than in 2015. Extortion was more than three times its 2015 rate.
What is driving it
Scams have gone digital and industrial. The CAFC says fraudsters use AI, automation and deepfake videos of trusted public figures. Crypto and instant payments make money hard to recover: securities regulators took down more than 7,586 fake investment and crypto websites between June 2025 and February 2026. Much of the fraud is run from abroad; in 2025 victims’ payments went to 3,019 bank accounts in 46 countries. In 2024, 26% of police-reported fraud was cybercrime (Statistics Canada).
Recent cases
- 6 May 2026: Finance Canada highlights a new Financial Crimes Agency ($352.7 million over five years) and a proposed ban on crypto ATMs (Finance Canada).
- 11 December 2025: Canadian securities regulators report removing 3,961 fraudulent investment and crypto websites in six months (CSA).
- 7 July 2025: the RCMP arrest the alleged ringleader of a Montreal “grandparent scam” call centre that targeted US seniors (CTV News).
Press releases and official reports, 2023–2026
Five key releases a year for the last four years, newest first. Most come from federal departments and agencies, the Transportation Safety Board, Statistics Canada and provincial governments; a few news and trade reports are included where they are the clearest public record of an event. Releases from 2007–2022 are in the expandable list after 2023.
2026
- 22 Jul 2026Statistics CanadaPolice-reported crime statistics in Canada, 2025
- 6 May 2026Finance CanadaMinister Champagne highlights Spring Economic Update measures to fight financial crimes
- 30 Mar 2026Finance CanadaGovernment of Canada launches consultations on first ever National Anti-Fraud Strategy
- 6 Mar 2026Competition BureauFraud Prevention Month to bring hidden crime into the spotlight
- 3 Mar 2026CSACanadian securities regulators’ release updated numbers on disarming more than 7,500 fraudulent investment websites
2025
- 11 Dec 2025CSACanadian securities regulators’ new capability disarms more than 3,900 fraudulent investment websites
- 14 Oct 2025CAFCCAFC 2024 Annual Statistical Report
- 22 Jul 2025Statistics CanadaPolice-reported crime statistics in Canada, 2024
- 28 Feb 2025Competition BureauFraud Prevention Month to focus on impersonation fraud, one of the fastest growing forms of fraud
- 26 Feb 2025CAFCFraud Prevention Month 2025
2024
- 21 Oct 2024Statistics CanadaImpact of cybercrime on Canadian businesses, 2023
- 25 Jul 2024Statistics CanadaPolice-reported crime statistics in Canada, 2023
- 19 Apr 2024CAFCCAFC 2022 Annual Report
- 4 Mar 2024Competition BureauThe rise of AI: Fraud in the digital age
- 29 Feb 2024RCMPFraud Prevention Month 2024: Fighting fraud in the digital era
2023
- 27 Jul 2023Statistics CanadaPolice-reported crime statistics in Canada, 2022
- 24 May 2023CSAInvestor Alert: Advisor Impersonation Schemes
- 13 Mar 2023CSACanadian securities regulators provide tips to avoid online investment scams
- 1 Mar 2023Competition BureauQuick easy money? Sometimes it’s a quick easy LIE
- 27 Feb 2023RCMPFraud Prevention Month 2023: Fraud losses in Canada reach another historic level
View 20 years of major Canadian fraud press releases (2007–2026)79 more from 2007–2022, up to five a year, newest first
2022
- 15 Nov 2022CAFCCAFC 2021 Annual Report
- 2 Aug 2022Statistics CanadaA comprehensive portrait of police-reported crime in Canada, 2021
- Jun 2022CSACSA 2021-2022 Enforcement Report highlights Canadian securities regulators' actions to pursue wrongdoing and hold securities law violators accountable
- 2 Mar 2022Competition BureauFive-star fake out
- 14 Feb 2022CSAFriend, Lover or Fraudster? Canadian Securities Administrators warns of online relationships turning into investment scams
2021
- 27 Jul 2021Statistics CanadaAfter five years of increases, police-reported crime in Canada was down in 2020, but incidents of hate crime increased sharply
- 15 Mar 2021Competition BureauTaking care of business
- 1 Mar 2021Competition BureauNon-delivery scams: When nothing comes to those who wait
- 25 Feb 2021Competition BureauFraud Prevention Month 2021: Watch out for Online Scams
- 4 Feb 2021CSACanadian securities regulators warn public about trading scam using fake accreditation
2020
- 29 Oct 2020Statistics CanadaPolice-reported crime increases in 2019
- 6 May 2020Competition BureauCompetition Bureau cracking down on deceptive marketing claims about COVID-19 prevention or treatment
- 24 Apr 2020CSACanadian Securities regulators warn public about entity claiming to regulate derivatives
- 11 Mar 2020Competition BureauSubscription traps: "no-strings attached" trial offers could leave you with your hands tied
- 2 Mar 2020Competition BureauFight fraud this March! The Competition Bureau launches the annual Fraud Prevention Month campaign
2019
- 22 Jul 2019Statistics CanadaPolice-reported crime statistics, 2018
- 28 Mar 2019Statistics CanadaCyber security and cybercrime challenges of Canadian businesses, 2017
- 22 Mar 2019Competition Bureau15 years of fighting fraud in Canada
- 1 Mar 2019Competition BureauFraud Prevention Month—helping Canadians stand up to scammers
- 28 Feb 2019Competition BureauFraud Prevention Month: empowering Canadians with knowledge for 15 years
2018
- 23 Jul 2018Statistics CanadaPolice-reported crime statistics, 2017
- 26 Mar 2018Competition BureauJail sentence ends Bureau case on fraudulent, misleading telemarketing calls
- 13 Mar 2018Competition BureauOnline shopping scams: handle with care
- 1 Mar 2018Competition BureauKicking off Fraud Prevention Month—#FPM2018
- 26 Feb 2018Competition BureauFraud Prevention Month: united front against scammers
2017
- 24 Jul 2017Statistics CanadaPolice-reported crime statistics, 2016
- 31 Mar 2017Competition BureauFraud Prevention is a Year-round Affair
- 28 Mar 2017Competition BureauYou can help by reporting fraud – be a scam-buster!
- 14 Mar 2017Competition BureauDon’t invest in fraud: know how to spot investment scams
- 1 Mar 2017Competition BureauCompetition Bureau joins partners to announce Top 10 Scams
2016
- 20 Jul 2016Statistics CanadaPolice-reported crime statistics, 2015
- 1 Apr 2016Competition BureauDon't Be Fooled! Fraud Prevention is a Year-round Affair
- 31 Mar 2016Competition BureauBeware the Green Gremlin of Investment Fraud
- 30 Mar 2016Competition BureauScammers reaching new lows as they focus their efforts on defrauding immigrants and refugees
- 8 Mar 2016Competition BureauFree Trial Scams: Too Good To Be True!
2015
- 20 Oct 2015CSAInvestor Alert: Canadian Securities Regulators issue warning about messaging applications being used to entice investors
- 6 Oct 2015CSACanadian securities regulators encourage checking registration before investing
- 22 Jul 2015Statistics CanadaPolice-reported crime statistics, 2014
- 2 Mar 2015CSABe an informed investor: Check before you invest
- 19 Feb 2015CSACooperation key in Canadian securities regulators’ fight against wrong-doing
2014
- 25 Sep 2014Statistics CanadaPolice-reported cybercrime in Canada, 2012
- 23 Jul 2014Statistics CanadaPolice-reported crime statistics, 2013
- 16 Jun 2014CSACSA Investor Alert: Caution urged for those looking to invest in medical marijuana stocks
- 4 Mar 2014CSACanadian securities regulators encourage Canadians to be proactive in preventing investment fraud
- 27 Feb 2014FCACFCAC activities for Fraud Prevention Month
2013
- 8 Oct 2013CSACSA encourages all Canadians to take time to "Check Before You Invest"
- 25 Jul 2013Statistics CanadaPolice-reported crime statistics, 2012
- 22 Mar 2013CSACanadian Securities Administrators announce March 26 as Check Registration Day
- 4 Mar 2013CSACanadian Securities Regulators Stress being Proactive is Key in Preventing Investor Fraud
- 21 Feb 2013CSACanadian Securities Regulators’ Enforcement Report Highlights Fraud
2012
- 16 Oct 2012CSACanadian securities regulators release 2012 Investor Index
- 24 Jul 2012Statistics CanadaPolice-reported crime statistics, 2011 (correction)
- 28 Mar 2012CSACSA Investor Watch – FOREIGN CURRENCY EXCHANGE (Forex/FX) Trading
- 6 Mar 2012CSAOnline fraud awareness campaign confirms investors’ vulnerability
- 22 Feb 2012CSACanadian Securities Regulators’ 2011 Enforcement Report Highlights Proactive Measures to Protect Investors
2011
- 31 Oct 2011CSACanadian securities regulators announce launch of online investment fraud awareness campaign
- 24 Oct 2011CSATop investment scams in Canada
- 15 Sep 2011Statistics CanadaSelf-reported Internet victimization in Canada
- 3 Mar 2011CSACanadian Securities Regulators caution against online investment fraud
- 22 Feb 2011CSACanadian Securities Regulators’ 2010 Enforcement Report Indicates More Violators Facing Jail Time for Breaching Securities Laws
2010
- 20 Jul 2010Statistics CanadaPolice-reported crime statistics, 2009
- 15 Jun 2010CSASecurities regulators urge Canadians to help prevent financial abuse of seniors(2)
- 25 Feb 2010CSACSA urges Canadians to "take the next step" to protect themselves from investment fraud
- 29 Jan 2010CSACanadian Securities Regulators 2009 Enforcement Report Outlines Efforts to Protect Canadian Investors and Markets
2009
- 25 Nov 2009RCMPMajor Joint Police Operation against a Forgery and Fraud Network
- 21 Jul 2009Statistics CanadaPolice-reported crime statistics
- 9 Jul 2009RCMPMontréal Business Man Charged with Fraud over $ 10 million
- 10 Mar 2009CSACSA Offers New Fraud Prevention Resources for Investors
- 3 Mar 2009RCMPUpdate: Accused Investment Fraud Suspect awaiting extradition to Canada
2008
- 24 Sep 2008RCMPPolice Warn Public as Reports of the "Emergency" Cash Phone Scam Double
- 30 Jul 2008Competition BureauCanadian Scammers Extradited to the U.S. Receive Lengthy Prison Sentences
- 19 Jun 2008RCMPCriminal Charges Laid Against Former Top Executives of Nortel Networks Corporation (NORTEL)
- 3 Mar 2008Competition BureauCompetition Bureau Announces Launch of Fifth Annual Fraud Prevention Month
- 3 Mar 2008CRAProtect yourself against identity theft
2007
- 21 Nov 2007Justice CanadaGovernment of Canada introduces legislation to tackle identity theft
- 2 Oct 2007Competition BureauCompetition Bureau and Toronto Strategic Partnership Move Quickly to Shut Down Bogus Directories Scam
- 12 Jun 2007Competition BureauMontreal-Based Scam Allegedly Bilks Organizations of $10-Million
- 23 Mar 2007Competition BureauCompetition Bureau Flags Latest Scam to Hit Canadian Businesses – FRAUD: Recognize It. Report It. Stop It
- 1 Feb 2007RCMPTelemarketing Fraud Ring Dismantled in Ontario and Quebec
Some early years list fewer than five items. Many Canadian government releases from that period are no longer online at their original addresses, and we only list items we could open and check. Where a page shows no date, the date comes from the release address or the publisher’s own index.
Photo list
How this page is built. Figures come from the official statistical releases linked above; where agencies publish provisional numbers we say so, because they are revised. Canadian statistics are often collected by provinces and territories, and some national series run several years behind, so we say which area and year each figure covers. Photos are public-domain or Creative Commons images credited in each caption; file photos are illustrative and are not from the events described unless the caption says so. This page tracks trends and is not personal safety, medical, legal or financial advice.