May 22, 2022

The Queens County Citizen

Complete Canadian News World

Fraud: $ 269 million record extortion

Fraud: $ 269 million record extortion

Fraudsters, among other things, were busy last year with a record harvest of $ 269 million nationwide, including $ 30 million in Quebec, betting on love scams to keep their pockets lined up.

Also read: The marketplace was hit by a wave of scams

Also read: Valentine’s Day, beware of love scams!

According to the data provided Newspaper Through the Canadian Anti-Fraud Center (CAFC), the amount stolen in 2021 will more than double the amount announced in 2020. The invoice was then $ 102.9 million on Canadian soil.

However, this amount does not include fraud reported by foreigners who have been scammed in Canada. The loot then reached $ 379 million.

The second most lucrative theft is dating schemes that led to $ 4.5 million in financial losses in Quebec.

This is an increase of 8%, but the number of victims has reached 196. It must be said that due to the epidemic, most people are mostly alone at home and in front of their computer.

“Fraudsters use sophisticated methods to appear legitimate and deceive the public,” the CAFC warned on its website. In Canada, $ 50.19 million was lost in fake online virtual relationships.

Yesterday, on Valentine’s Day, Autorité des marchés Financiers also issued a warning about friendly or romantic fraud on the web.

“Scammers prey on people of all ages and populations. No one is immune,” said Luis Morissette, CEO of AMF.

CAFC states that in 2021, there will be an increase in the number of cryptocurrency investment claims for this type of fraud.

Questionable investments at the top

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Investment fraud tops the list of the most expensive scams. Quebec suffered a loss of $ 113.46 million, including $ 13.17 million, with 319 cases reported.

“Investors who are victims of this fraud will lose all or most of their money,” the CAFC said

According to a recent NOVIPRO / Léger survey, more than half of ransomware victims in 2021 agreed to pay for hackers’ demands. Extortion scams have reached $ 1.4 million in the province.

According to a survey conducted by accounting firm MNP, 54% of companies affected by financial frauds have had to respond to more than one attack.


Third in the list of scams, we find items related to, for example, fake show tickets. More than $ 3.6 million was stolen in Quebec in 2021 compared to $ 2.21 million in 2020.

In Canada, fishing ranks third.

In 2021, the CAFC processed nearly 73,450 fraud-related reports nationwide, including 10,479 in Quebec, involving foreign companies or citizens.

In recent months, the company has also conducted a number of identity theft reports, most of which came from Quebec or 9,986 cases, compared to 5,403 the previous year.

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