This week’s OSIN showcases the Canadian Anti-Fraud Centre Bulletin 2022

In 2022, the Canadian Anti-Fraud Centre (CAFC) received 90,377 fraud reports involving over CAD 530 million in reported losses. This was a record high for reported fraud losses. The CAFC’s top 10 scams in 2022 included: Identity fraud and phishing. The CAFC also reported that Investment fraud losses totalled CAD 305.4 million in 2022, which was the highest, and the Phishing scam was the highest reported fraud in 2022. The CAFC stated that it continues to believe that only 5% to 10% of fraud is reported and that the increase in reported losses did not result from more reports being filed. The CAFC is a critical component for reducing the impact of fraud on Canadians and recovering funds stolen through fraudulent activity.

CAFC suggests a few tips to protect your accounts from fraud, by creating strong passwords, setting up multi-factor authentication, updating privacy settings, and being familiar with payment methods. Avoid accepting money from third parties and take five minutes to ask questions. Encourage others to take five minutes and share information on fraud. Share knowledge and help protect others by sharing knowledge.