Adults today live a large part of their lives online. The Canadian Anti-Fraud Centre (CAFC) reports that Canadians lost over $704 million to fraud in 2025, with reported losses since 2022 surpassing $2.4 billion. Because only 5 to 10 percent of fraud is ever reported, the real numbers are estimated to be many times higher. [1]
Working-age adults are increasingly targeted because they hold active credit, employment income, retirement contributions, and often manage financial decisions for older parents and younger children. Romance, investment, identity, and AI-driven impersonation scams in particular have grown sharply in the last two years. [2]
How to spot phishing and the top financial scams targeting Canadian adults.
References
[1] Competition Bureau Canada (Government of Canada), Fraud Prevention Month to bring hidden crime into the spotlight, March 6, 2026. https://www.canada.ca/en/competition-bureau/news/2026/03/fraud-prevention-month-to-bring-hidden-crime-into-the-spotlight.html
[2] Department of Finance Canada and Canadian Anti-Fraud Centre, Government of Canada launches consultations on first ever National Anti-Fraud Strategy, March 30, 2026. https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html
[3] CBC News, Red flags for romance scams that Ontario police want you to know about, February 12, 2025. https://www.cbc.ca/news/canada/toronto/romance-scam-signs-1.7457386
[4] CBC News and Toronto Police Service, Mississauga man, woman arrested for $250K romance scam, February 16, 2026. https://www.cbc.ca/news/canada/toronto/romance-scams-toronto-arrest-9.7090487