Police reveal the top 5 types of scams Torontonians are falling for

The Canadian Press

· Posted: Mar 05, 2025 8:49 PM EST | Last Updated: March 6

Toronto constabulary person revealed the 5 astir damaging frauds and scams successful circulation successful an effort to limb radical with knowledge.

They accidental the apical 5 frauds successful the metropolis are relationship takeovers, individuality theft, confidence, cryptocurrency and online investment.

Finance Crimes Det. Dave Coffey said online concern scams are the astir damaging, with much than $71.2 million in losses reported to Toronto constabulary past year.

"Fraud is vastly under-reported. We judge the existent numbers to beryllium 10 to 20 times higher," Coffey said. 

In a quality merchandise connected Wednesday, constabulary said online concern scams often start as romance scams, successful which fraudsters make contact with a unfortunate done substance oregon email, gathering a narration implicit time.

"Once spot is established, they present a lucrative concern opportunity, convincing victims to transportation funds," the merchandise added.

Coffey added successful the release: "While Toronto Police receives an mean of 45 fraud reports per day, we cognize this represents lone a fraction of what's truly happening arsenic it is estimated that lone 5 to 10 per cent of frauds are reported for assorted reasons."

Police said they received much than 16,700 reports of fraud past twelvemonth with losses of much than $368 million but judge that fig is under-reported due to the fact that shame and embarrassment forestall victims from calling them.