What Canadians reported losing to fraud in 2025, and the scams behind it

Every year the Canadian Anti-Fraud Centre (CAFC) publishes what Canadians reported to it. For 2025, it received more than 112,000 fraud reports involving more than $704 million in reported losses. Those are only the cases people reported, so the real figure is higher. The breakdown is more useful than the total, because it shows where the money actually goes.

Where the money went

The top five scams by reported dollar loss in 2025:

Investment fraud alone accounts for roughly half of all reported losses. The cover image for this post is those ten loss figures drawn to scale.

By number of reports, identity fraud was the most common, with 8,403 reports. The CAFC notes that most identity fraud victims aren’t the ones left paying the losses, but it’s the clearest link between data breaches and fraud: someone used another person’s details to open accounts or make purchases.

What these scams have in common

Investment scams promise high, steady returns, often in crypto, and show a dashboard where your “balance” grows. The CAFC and RCMP spent Fraud Prevention Month 2026 warning about AI-generated videos of public figures and officials endorsing investments. In their joint video, the RCMP Commissioner said plainly: “Always assume these videos are fake.”

Spear phishing is targeted. It often looks like an invoice or a payment change from a supplier, colleague or boss, and the losses are large because businesses send large payments.

Fraud investigator scams start with a call from your “bank’s fraud department” or the police, saying your account is compromised and you need to move money to keep it safe.

Recovery pitch scams, $25.9 million in 2025, target people who were already scammed, offering to get their money back for a fee.

The common thread is urgency plus trust. Someone you think you can trust, or a face you recognise, needs you to act now.

The warning signs

• You were contacted first. A bank, the CRA or the police calling or texting you out of the blue should never be the start of a money transfer.
• There’s a rush. Real institutions let you hang up and call back.
• The payment method is odd: crypto, gift cards, wire transfers, or a “safe account.”
• They already know things about you. After breaches, scammers often have your name, address and recent purchases. That’s not proof they’re real.
• The returns are guaranteed. No legitimate investment is.

If it happened to you

Stop sending money, call your bank using the number on your card, and report it to your local police and to the CAFC through the Report Cybercrime and Fraud system, or by phone at 1-888-495-8501. Reporting matters even when the money is gone; these numbers only exist because people reported. And be wary of anyone who contacts you afterwards offering to recover your losses.

How Frame helps

Scammers work from what they can find about you. Frame shows you what’s exposed, from data broker listings to breaches you’ve been part of, so there’s less for them to use.

Sources

• Canadian Anti-Fraud Centre, Top 10 frauds in 2025, February 2026
• Canadian Anti-Fraud Centre, Fraud Prevention Month 2026, including the RCMP and Competition Bureau video transcript
• Government of Canada, CAFC Fraud Reporting System dataset