Romance scams in Canada have surged, with victims reporting a staggering $58 million in losses in 2024, a significant increase from the $22.5 million recorded in 2018. Law enforcement emphasizes the need for vigilance as these scams often involve individuals pretending to be in crisis, seeking immediate financial help through enticing investment opportunities. The use of advanced AI tools allows scammers to craft believable personas, further complicating detection efforts. As victims span all demographics, the impact of these scams on the financial and emotional wellbeing of individuals cannot be overstated.
In 2024, Canadians reported $58 million in romance scam losses to the Canadian Anti-Fraud Centre, up from $22.5 million in 2018, indicating substantial growth in victims.
Scammers exploit those seeking love, using sophisticated tactics that involve AI and cryptocurrency, making it difficult to recover lost funds after fraudulent transactions.
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