Anti-fraud centre warns of rising trend in romance/investment scams
The public is warned to be cautious with their hearts and wallets amid a surge in romance/investment scams.
The Canadian Anti-Fraud Centre (CAFC) reports that these scams, often called 'pig butchering,' involve fraudsters exploiting individuals through dating apps and social media platforms.
- Download the CTV News app to get local alerts on your device
- Get the latest local updates sent to your email inbox
Scammers manipulate victims into investing funds or cryptocurrency in fake schemes promising high returns and financial success after establishing relationships and gaining trust.
"Fraudsters use fake online trading platforms and convince victims to transfer funds or cryptocurrency into their trading account," the CAFC noted.
RELATED
- Fraudsters clone Chapman's Ice Cream Facebook page in attempt to scam public
- Officers will never attend a residence seeking bail money, OPP says amid rise in scams
- Public warned about 'Broken Phone Scam'
Cryptocurrency scams attempt to steal money, personal and financial information.
"Cryptocurrencies operate independently of a central bank and are currently unregulated in Canada," the CAFC stated, adding, "No government agencies will ever request payment in the form of cryptocurrencies."
The agency says to never rely on a website and phone number included in unsolicited materials, to fact-check, and do your research for possible scam alerts about investment offers.
Complete information on these scams and how to avoid becoming a victim is available on the CAFC website.
CTVNews.ca Top Stories
BREAKING Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
LeBlanc says he plans to run in next election, under Trudeau's leadership
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
U.S. vetoes a widely supported UN resolution backing full membership for Palestine
The United States has vetoed a widely backed UN resolution that would have paved the way for full United Nations membership for the state of Palestine.
Grandparent scam suspects had ties to Italian organized crime, police allege
A group of suspects that allegedly defrauded seniors across Ontario and other parts of Canada using a so-called emergency grandparent scam appear to have ties to 'Italian traditional organized crime,' according to an investigator involved in the OPP-led probe.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn’t over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball’s highest scorer Caitlin Clark’s first news conference as an Indiana Fever player.
Cat found on Toronto Pearson airport runway 3 days after going missing
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.
Trend Line Anger, pessimism towards federal government reach six-year high: Nanos survey
Most Canadians in March reported feeling angry or pessimistic towards the federal government than at any point in the last six years, according to a survey by Nanos Research.
B.C.'s short-term rental regulations include $10K daily penalties for Airbnb, other platforms
Short-term rental platforms that violate B.C.'s pending regulations can face administrative penalties of up to $10,000 per day, officials announced Thursday.