(NORFOLK COUNTY, ON) – A community member lost $40,000 after being deceived by a cryptocurrency investment scam.
At approximately 11:44 a.m. on Friday, March 29, 2024, the Ontario Provincial Police (OPP) Norfolk County Detachment investigated a fraud at an address in Norfolk County.
It was determined that the victim responded to an online advertisement on a website for an investment opportunity that promised significant returns on the funds initially invested.
Between January and March of 2024, the victim invested approximately $40,000. When they tried to access their funds, they were told they needed to pay more money to get their original investment back. Realizing this was a scam, the victim contacted the police.
Frauds and scams are attempted daily through online platforms, phone calls, letters, or faxes. Fraud is a multi-million-dollar enterprise that will only cease when the perpetrators stop profiting.
To avoid falling victim to similar investment scams, follow these key tips:
- Research and verify the legitimacy of investment opportunities and the entities offering them.
- Exercise caution when confronted with investments promising high returns with little risk. Overly optimistic claims may signal a potential scam.
- Avoid sharing sensitive information with unfamiliar parties.
To learn more about fraud and cybercrime prevention and how to safeguard yourself, contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or visit www.antifraudcentre-centreantifraude.ca.
