The Canadian Anti-Fraud Centre (CAFC) is warning Canadians about the growing threat of investment fraud, as reported financial losses from these scams continue to exceed $1.6 billion since 2021.
November is Financial Literacy Month, and this year’s “Talk Money” campaign is encouraging Canadians to have open conversations about money and the financial decisions that affect their everyday lives.
As part of the campaign, the CAFC is raising awareness about investment fraud and encouraging people to discuss financial opportunities, recognize warning signs and share information to help protect themselves and others.
According to the CAFC, investment fraud continues to account for the highest reported financial losses in Canada. In 2025 alone, Canadians reported $351 million in investment fraud losses.
Cryptocurrency-related investment fraud accounts for the majority of these losses and remains a significant concern.
Fraudsters commonly use social media, online advertisements, fake trading platforms and personal relationships to promote fraudulent investment opportunities. The CAFC says discussing investment experiences with friends, family members and colleagues can help people recognize scams before losing money. These conversations can also reduce the stigma associated with fraud and encourage victims to come forward.
Warning signs
The CAFC is advising Canadians to be cautious of investment opportunities involving:
- Promises of guaranteed, high or risk-free returns.
- Unsolicited investment offers through social media, online advertisements, text messages or dating platforms.
- Individuals who quickly establish trust or personal relationships before introducing investment opportunities.
- Pressure to invest immediately or claims that an opportunity is only available for a limited time.
- Requests to open cryptocurrency accounts, purchase cryptocurrency or transfer funds to unfamiliar digital wallets.
- Investment websites or trading platforms displaying significant profits but preventing users from withdrawing their money.
- Requests for additional fees, taxes or deposits before accessing or withdrawing investment funds.
- Individuals impersonating financial advisors, celebrities or other trusted figures to promote investment opportunities.
How to protect yourself
Canadians are encouraged to research investment opportunities carefully and take precautions before making financial decisions.
The CAFC recommends avoiding opportunities that promise high returns with little or no risk, taking time to investigate investments rather than responding to pressure, and verifying that individuals or companies offering investments are registered with the appropriate securities regulator.
Registration can be checked here.
Other precautions include researching investment companies and trading platforms, being wary of cryptocurrency investment advice from people met through dating apps or social media, and never providing remote access to a computer or mobile device to someone offering investment assistance.
Residents are also advised against sending cryptocurrency to digital wallets or accounts controlled by people they do not know or trust. Speaking with a trusted financial professional before making unfamiliar investments is another recommended precaution.
The CAFC also encourages Canadians to discuss investment fraud with friends and family and share information about suspicious approaches.
Reporting investment fraud
Anyone who has been a victim of investment fraud is encouraged to report the incident to their local police and the Canadian Anti-Fraud Centre. Fraud attempts should also be reported, even when no money has been lost.
Reports help the CAFC identify emerging fraud trends, support law enforcement investigations and develop public awareness campaigns.
Fraud and cybercrime can be reported online or by contacting the CAFC at 1-888-495-8501.
For additional information about current fraud trends and prevention tips, click here.
