“With cryptocurrencies, online banking, and the internet readily available on mobile phones, fraudsters have many ways to access potential victims.”
news release
ontario provincial police
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ORILLIA — It’s more important today than it was 20 years ago to be able to recognize and understand how scammers try to steal your funds. Awareness plays a key role in preventing potential victims from losing their hard-earned money. With cryptocurrencies, online banking, and the internet readily available on mobile phones, scammers have many ways to access potential victims.
Here are ways scammers can request money transfers:
Cryptocurrency: Be wary of unsolicited investment opportunities presented on social media, the internet, and dating apps. Scammers may claim that they are successful investors in cryptocurrencies and can help you make money and “get rich” quickly. Scammers trick you into buying cryptocurrencies and transferring money to your wallet. Be sure to research the investments on offer. Also, keep in mind that no government agency will require payment in the form of virtual currency.
prepaid card: Scammers may ask you to pay for the scheme by enticing you to purchase a prepaid or gift card. Legitimate sources do not require these cards as a payment method.
cash: If someone claims to be your loved one (i.e. grandchild) and is asking you to send cash to help them, be sure to verify the story and contact your loved one directly. please. Scammers may call someone or a courier to your home to collect cash.
Electronic funds transfer/Wire transfer: The scammer may ask you to receive an electronic transfer or wire transfer to your bank account. The scammer then instructs another individual to transfer the funds through another payment method, such as Bitcoin. The funds received are from compromised accounts or other fraud victims. The scammer has set you up as a “money mule.” This is a term used when transferring illegally obtained funds on behalf of a fraudster and can be a crime.
check: Scammers may send you a fake check and ask you to cash it and return some of your funds. You may find out later that the check you deposited was fraudulent and you now owe the bank money.
If you or someone you know has been a victim of cybercrime or fraud, contact your local police station or CAFC. Online reporting system, or call 1-888-495-8501. The public is encouraged to report to the CAFC even if no financial loss has occurred.
OPP will post tips and resources online. The public is encouraged to join the conversation on social media to recognize, reject and report scams using the hashtags #FPM2024 and #kNOwfraud.
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