Fraud is rapidly becoming one of the most prevalent crimes in Canada, often going unnoticed and unreported. In 2025 alone, Canadians lost over $704 million to various fraud schemes, with total reported losses since 2022 exceeding $2.4 billion. Alarmingly, only 5% to 10% of fraud incidents are reported, indicating that the actual impact is likely much greater.

This March marks the 22nd edition of Fraud Prevention Month (FPM), a collaborative effort by the Competition Bureau, the Canadian Anti-Fraud Centre (CAFC), and the Royal Canadian Mounted Police (RCMP). The initiative aims to equip Canadians with the necessary tools to recognize, reject, and report fraudulent activities.

The Fraud Prevention Forum, comprising various partners, focuses on different types of fraud, including investment scams, identity theft, and romance scams. By working together, these organizations aim to enhance public awareness and encourage more individuals to report fraud incidents.

In 2025, the most reported types of fraud included identity fraud, investment fraud, and service fraud, all designed to extract sensitive information from victims. The financial impact of these frauds is significant, with investment fraud, romance fraud, and job fraud being the most damaging.

Canadians are encouraged to report any fraud experiences to local authorities and to utilize resources like the Report Cybercrime and Fraud website. Reporting is crucial not only for individual protection but also for identifying patterns and preventing further fraud.