According to figures collected by the Canadian Anti-Fraud Centre, which tracks scams and identity theft across the country, victims lost approximately $165 million in 2020. Three years later, that figure more than tripled to $569 million.
But here's the staggering part: that huge number represents only the small percentage of people who actually admit they've been scammed. "We estimate that only five to 10 per cent of victims actually report to the Canadian Anti-Fraud Centre," says spokesman Jeff Horncastle. "That can be multiplied by 10 or 20, in reality."
From grandparent scams to romance frauds, phishing has become a daily part of life for any Canadian with a cellphone or email address. A guest the latest episode of Village Media's Inside the Village podcast, Horncastle explained why this crime is skyrocketing, how fraudsters are using generative AI to their advantage, and what you can do to protect yourself from the seemingly endless onslaught of scammers.
Every episode is can be found HERE. If you prefer the audio version, it is available wherever you find your favourite podcasts.