Fraud costs billions

Fraud affects a large number of consumer and businesses, undermines the economy, and robs people of their savings and dignity. The RCMP commercial crime branch estimates fraud in Canada to cost between $10 billion to $30 billion annually.

There is no shortage of fraud schemes trying to get people to part with their money. In today’s economic times, many Albertans are keeping a close eye on their wallets.

While law enforcement, government agencies and other consumer organizations are working diligently to detect and disrupt fraud, individuals should still be aware of the potential risks of becoming a victim of fraud.

The top schemes reported by Canadians, according the Canadian Anti-Fraud Centre are: “service,” “prize” and “emergency.” Some examples include home renovation, sweepstakes, lottery and charity or disaster relief.

Fraud Prevention Month is recognized in 24 countries worldwide.

Throughout March, activities across the province will remind Albertans to take some important steps to protect themselves from becoming a victim of fraud and to ‘Recognize it. Report it. Stop it.’