Fraudsters are using increasingly sophisticated tactics to convince victims that their bank accounts or credit cards have been compromised.
The Ontario Provincial Police (OPP) East Region Integrated Fraud Awareness and Response Initiative (IFARI) is seeing more reports from victims contacted by fraudsters claiming to represent financial institutions. They often claim there have been suspicious or unauthorized charges on a victim’s credit card or that funds have been stolen from their bank accounts.
OPP Sgt. John Armit said there are a few reasons why criminals are using technology to change their tactics.
“We conducted Project Sharp where we arrested a bunch of individuals involved in emergency grandparents scams and we did a great job of putting information out to the public. We’ve seen a transition from that fraud type to this fraud type.”
He added the technology being used is putting the confidence people have in the banking system at risk.
“People are pretending to be bank employees and I think that’s triggering for a lot of people when their bank calls with a suspicious transaction and they want to jump on it. That’s the reason we are seeing so many more of these.”
While police are seeing victims from a mix of demographics, but people over the age of 56 continue to be the prime targets.
“We do know seniors tend to lose between 33 and 38 per cent more than the average victim. They certainly do target people through phone registries such as Canada 411 where they can get people on landlines. We are also seeing text messages, so it’s hitting anyone and everyone.”
Armit said one specific crime has the culprits directing victims to download remote entry software on their computer and then bring up their online banking where money is removed.
“Another crime has people talked into putting bank cards in an envelope on their front porch and leave their PIN number. They are told their bank cards would be replaced and off the crooks go to the bank machine to withdraw money.”
Many fraudulent call centres are located across the globe in countries like India and Nigeria, but Armit explained they can be anywhere these days.
“Especially with the advancement of technology. It depends on what fraud type we have that we can determine whether we can determine if they are within Canada or outside.”
According to the Canadian Anti-Fraud Centre (CAFC), Canadians reported losing more than $28 million to bank investigator scams in 2025.
The Integrated Fraud Awareness and Response Initiative (IFARI) is an OPP East Region pilot program launched in 2025. The team enhances frontline fraud investigations by reviewing fraud and cyber-enabled fraud reports and providing investigative guidance, resources, and expert contacts to officers.
If you suspect fraud or have been a victim of fraud, police say it is important to report it to your local police service and the Canadian Anti-Fraud Centre online through the Fraud Reporting System or by calling 1-888-495-8501.
