Warning on Crypto and Romance Scams

The Canadian Anti-Fraud Centre (CAFC) and the Canadian Investment Regulatory Organization (CIRO) are working together to educate Canadians about the growing risk of advanced scams, especially those that rely on prolonged online interaction. These scams frequently lead individuals to invest in various schemes, with a focus on cryptocurrencies. It's crucial for Canadians to be aware of these threats and to be cautious when engaging in online communication, particularly when it comes to investment opportunities. By staying informed and vigilant, individuals can safeguard themselves against falling victim to these sophisticated scams.

The CAFC is warning about a rise in romance/investment scams, also known as "pig butchering". Scammers target victims on dating apps or social media, pretending to be interested in a relationship to build trust. They then claim to have made profits in cryptocurrency and offer to help the victim become wealthy. Using fake trading platforms, they persuade victims to transfer funds or cryptocurrency into their account, leaving the victims unable to retrieve their money. Be cautious and vigilant to avoid falling victim to these deceitful schemes.