There is no shortage of fraudsters trying to part people from their money, and the BC Lottery Corporation (BCLC) and Surrey police have issued warnings about two sophisticated scams that are currently doing the rounds.
BCLC says that there are scams circulating online that imitate B.C. casinos and deceive individuals into providing their financial details on illegitimate websites. The scams are conducted through fraudulent posts and advertisements on social media platforms such as Facebook and Instagram.
These posts and advertisements are highly deceptive, and exploit the logos, names, and exterior images of local B.C. casinos. They offer players exclusive bonuses and promotions if they register with their website or mobile application, but BCLC says that none of these sites are associated with casinos in B.C. or the lottery corporation.
BCLC and its casino partners are actively working to have the posts removed, but British Columbians need to be cautious when it comes to these predatory and sophisticated scams. BCLC encourages individuals to be on alert when a website or app asks for personal or financial information; BCLC’s verified websites and apps will never ask for your social insurance number (SIN), banking information, or credit card details online to claim a prize from a B.C. casino. Individuals can look out for other red flags, such as the suggestion of fees or taxes to be paid on a prize. In Canada, there are no fees or taxes on prizes won.
Surrey police have also issued a warning about cryptocurrency fraud. In 2023, Surrey RCMP received 229 reports of fraud involving cryptocurrency, with total losses of over $12,000,000 to Surrey residents alone.
The majority of these cryptocurrency frauds were related to investment scams. Victims are introduced to cryptocurrency-related investments via social media, phone calls, online advertisements, and online dating platforms. Using spoofed websites and mobile applications with fake trades and profits, victims are encouraged to invest money on the investing platform. When the victim attempts to withdraw their investments, they are typically asked for more money for taxes and other fees.
Eventually the scammer stops communicating with the victim, who finds they have been defrauded of all the money they believed they were investing.
In the first two months of 2024 alone, Surrey RCMP have received 50 reports of fraud involving cryptocurrency, with losses of over $3,200,000. While this particular scam plays on most people’s ignorance of what cryptocurrencies (such as Bitcoin) are, and how they work, most scams involve a promise of easy money for little or no effort. If something appears too good to be true, it probably is.
Websites, email addresses, and phone numbers are often spoofed. Exercise caution and always take a close look at spelling and for variations of the legitimate business names and websites. If you have provided personal information, such as your driver’s licence, passport, or SIN, monitor your credit report for signs of identity theft, and check for any unauthorized credit checks or applications. If you have provided your credit card number, check your statement for unauthorized transactions.
If you are the victim of a fraud, visit the Canadian Anti-Fraud Centre (CAFC) at https://bit.ly/3seRuSA. In 2023 the centre processed 62,365 reports of fraud involving 41,111 victims and a total of $554 million lost to fraud. Unfortunately, money lost to fraud is seldom recovered; from 2021 to 2023 the CAFC was only able to recover $6,693,830 on behalf of people who had been scammed.