Guelph Police Press Release
GUELPH: The Guelph Police Service is warning the public after a recent increase in reported cases of so-called ‘recovery scams.’
Such scams generally occur after someone has been a victim of a cryptocurrency or other online scam. The victim will then be contacted by someone claiming to be involved in the investigation and offering to track and recover the lost funds.
Fraudsters will tell victims that there is a fee for their services and, in some cases, will ask for remote access to their computer or device. In the end, no funds are returned and more funds are potentially stolen. In most instances this is fraud on top of fraud.
They will attempt to create an air of legitimacy by referencing involved police services or other organizations such as the Canadian Investment Regulatory Organization or will know details of the original scam as they were involved in it.
The Canadian Anti-Fraud Centre notes that recovery scams more than doubled in 2023 to more than $1.6 million in losses. The CAFC estimates that only 5-10% of victims report instances of fraud.
How Canadians can protect themselves:
- If you’ve been a victim of fraud, fraudsters may target you again with a promise to get your money back
- Never be afraid to hang up the phone
- Never allow an unknown person to gain remote access to your computer/device
- Always have your computer/device serviced by a reputable local business
- Never pay an advance fee to obtain a refund
- Search engine optimization refers to the ability to have websites appear in the first results of an online search. Don’t assume that top results mean companies are legitimate
