New Brunswick recorded an increase in reported incidents of fraud in 2022 according to a report from the Canadian Anti-Fraud Centre.
While victims in the province reported losing more than $3.15 million to fraud last year, down from $4.29 million in 2021, there was a 16 per cent increase in New Brunswickers who reported being targeted by a fraud or scam.
For the Financial Consumers Services Commission of New Brunswick, an increase in reports can be caused by several factors.
“The number of reports going up is a bit of a double-edged sword,” said Marissa Sollows, director of communications and public affairs for the FCNB.
“Because we know it’s so underreported, we can either see it as perhaps there are more instances of fraud, or perhaps more New Brunswickers are comfortable with reporting it.”
Atop the list of the province’s most costly frauds last year was investment fraud – typically when a scammer convinces someone to invest in false or misleading investment opportunities.
Other frauds include spear phishing, emergency scams, prize scams and romance scams.
The Better Business Bureau recently released a report of its own, documenting how scams impacted Canadians in 2022.
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“Scammers’ tactics have really become more sophisticated, and they’re paying close attention to what’s happening locally now,” said Kristin Matthews, marketing and communications manager for the Better Business Bureau Atlantic.
According to the report, more women than men submitted scam complaints to the BBB Scam Tracker, though the median dollar reported by men was $453 compared to $249 for women.
While seniors are often targeted by scams, the report found people aged 35 to 44 had the highest median dollar loss.
“The most targeted age group is 35 to 44, but we’ve definitely been noticing an increase in reports from people aged 18 to 24 as well,” said Matthews.
“It doesn’t matter what age group you are, but sometimes they will try to target people when they’re in a more vulnerable position.”
Matthews noted that while losses continue to occur, consumers appear to be more alert to the potential for a scam.
“So I think a lot of people are starting to realize some of the red flags when they are online or maybe looking for a job.”
When asked about tips for trying to avoid scams and frauds, Sollows said when an offer seems too good to be true, it often is.
“So if you’re having an emotional reaction, stop, think critically about the offer being presented to you, and walk away if it seems like it’s too good to be true,” Sollows said.
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