March marks Fraud Prevention Month in Canada, with authorities and organizations raising awareness about scams and fraud. Toronto Police, in collaboration with agencies like the Competition Bureau and the Canadian Anti-Fraud Centre, highlighted the top five most financially damaging scams in Toronto, which include online investment scams, account takeovers, confidence scams, cryptocurrency scams, and identity theft. These scams collectively resulted in reported losses of $368 million in 2024, with online investment scams alone accounting for $71.2 million. Police noted that actual losses could be 10 to 20 times higher due to underreporting. A new report by the Better Business Bureau revealed that financial grooming, a tactic where scammers build trust over time before asking for money, was a leading cause of financial losses in 2024. This method was particularly prevalent in investment, employment, and romance scams, with seniors and students being the most common victims. Cryptocurrency scams continue to rise globally, with the FBI reporting $5.6 billion lost in 2023. In Canada, a recent case involved an Ontario resident losing $215,000 to a fraudulent utilities bill scam, where the victim was instructed to make cryptocurrency payments. Law enforcement agencies, including the Ontario Provincial Police, are urging caution when dealing with digital currency transactions. Project Atlas, a Canadian initiative, has identified over 2,000 crypto wallet addresses linked to victims and aims to recover stolen funds. The Colorado Attorney General’s Office reported a record number of consumer complaints in 2024, with 17,000 fraud reports and issues ranging from retail sales to real estate services. The state saw a 20% increase in complaints, reflecting growing consumer challenges in navigating scams and fraud.