Scamming is big business and getting worse every day, with AI-generated images making it hard to tell real from fake.
My client wanted to alert its members to common scams and provide helpful advice in an article that appeared in the Fall 2025 issue of their magazine, Renaissance. Here it is.
‘Hi Grandma’ and more ways scammers aim to get your money
When the phone rang, 88-year-old Lorraine* was alone in the condo she shared with her daughter. The caller said, “Hi Grandma,” and launched into a sad tale involving a car accident in a distant city and the need for $2,500 or he would go to jail. It was urgent. He was desperate. He didn’t want his parents to know.
Grandma played into his hands by answering, “Is that you, Kevin?” Assured that it was, Grandma would have fallen for the scam except for one thing: she didn’t have ready access to money. Panicking, she gave the caller her daughter’s number at work. The daughter was suspicious, and didn’t believe Kevin was in a city far from home. Checking his whereabouts, she found out he was safely with his father, and called the police.
The “grandparent scam” was one of the top scams to watch out for in 2025, according to a Royal Bank of Canada “My Money Matters” report. Grandparents lost a combined $3.2 million to scammers in 2024, victims of their desire to protect a loved one in trouble.
Here are some other top scams:
- Bank impersonation: You get a call, text or email claiming a security breach of your account. All the caller needs is your PIN or password to drain your money.
- Phishing: Texts or emails prompt you to click a link to download a file, resolve an “issue” or share bank account details and other information. Or the message says you have debts and they must be paid in gift cards. Or you get a message that a subscription (that you don’t have) will automatically renew unless you click a link to cancel it. A version called “spear phishing” targets business emails, with someone posing as an executive to ask a more junior employee for a rush payment or bank transfer.
- Romance scams (catfishing): Scammers post fake profiles on social media and dating sites. They quickly “fall in love” with you and soon after ask for personal information. Or they want money for airfare to visit you or to get themselves or a family member out of trouble.
- Employment scams: Fake job listings ask you to pay a fee to get started, fake hiring firms have a screening fee, or fake work-from-home jobs demand you send money to get essential start-up equipment.
- Crypto and investment scams: Get-rich-quick schemes have always been popular, and the stunning prices of cryptocurrency like bitcoin have made this a popular scam. A text or email offers you an exciting investment opportunity; you just have to send money to get more money.
- Travel scams: Fake agencies offer free vacations, travel packages at low prices or rentals at properties that don’t exist.
With such a range of lucrative options, scamming is big business.
The Canadian Anti-Fraud Centre (CAFC) reports that 34,621 Canadians lost more than $638 million to cybercriminals in 2024. However, the CAFC believes actual losses are significantly higher. It estimates that 90 per cent of incidents go unreported because victims are embarrassed, feel the money lost was not significant, or don’t think reporting it would make a difference. If so, the losses may be over $12 billion.
They might be one-time hits like “Kevin’s” $2,500. Or they might go much higher, like the $250,000 lost by one senior over a year-long gift card scam by someone met online.
There’s no limit to the scammers’ ingenuity and persistence. But the Vancouver police say many rely on three powerful ways to reel you in:
- Hope: “You’ve won a prize” (but you need to pay a small fee).
- Fear: “You owe taxes” (and you’d better pay now or you’ll be arrested).
- Your natural willingness to help: “Help us catch these crooked bank employees” (just give us your banking details and password).
All are designed to play on your emotions, stop you from thinking rationally and make you take actions you normally would not.
How to protect yourself from being scammed
By nature, you may be generous and trusting, but being alert to potential fraud means being suspicious.
Watch out for telephone calls or messages that require immediate action or secrecy. If a scammer gives you a phone number to verify their statement, don’t use it. Hang up and call a number you already have for your bank, your relative, your local police.
Never click on email links or open attachments you haven’t asked for.
Know that banks and the Canada Revenue Agency will never call and ask for money or your banking details, nor will they ask for Apple, Amazon or other gift cards or cryptocurrency as payment.
Dating? Beware of prospective suitors who are much younger than you, are excessively flattering, want to take conversations offline right away or ask for money. Be aware that many scammers target those whose profiles say they are widowed, so identify yourself as single or divorced instead.
Remember that if something sounds too good to be true, it probably isn’t true.
The government of Canada’s Get Cybersafe campaign also advises you to protect yourself in three areas:
1. Secure your accounts
Protect your information by using strong, unique passwords (not your pet’s name!), and keeping them secure. Do not use the same password on multiple accounts, and never share it. Enable two-step verification whenever possible, so you get a text or email with a code to confirm your identity before logging into an account. Only log in from trusted sources like a company’s home page, not a link in an email.
Be safe on social media. Keep personal information like vacation plans, big purchases or your child’s school events private. Don’t post photos that include revealing details like your home address or license plate. Never share financial information on social media. Don’t respond to direct messages from people you don’t know. If you have the option, keep your lists of friends or followers private.
2. Secure your devices
Guard against malicious software (malware) that gives criminals access to your computer, phone or tablet. Install anti-virus protection and keep software and operating systems updated. Customize security settings wherever possible. Log out of accounts when you’re finished with them, and regularly clear the cache and browsing history, especially after accessing your banking information. Download files from trusted sources only and scan them with your anti-virus software before opening.
3. Secure your connections
Keep your home Wi-Fi network secure. Change the default network name and password on the router and use a strong password. Limit the coverage area by placing the router close to the middle of your home rather than near a window. If you use public Wi-Fi, make sure it’s a network you trust and never use it to do banking or access sensitive information. When out in public, turn Bluetooth off or set it to hidden/undiscoverable so strangers can’t connect to your device. If a device is lost or stolen, delete it from your list of paired devices.
If some of this advice is too technical and you don’t have a friend or relative to help, check out Cyber Seniors. This non-profit organization provides older adults with technical mentors. You can book a one-on-one call, sign up for daily webinars, and download documents to help you out.
If you’ve been scammed, report it quickly
If you’re a victim of cybercrime, don’t be embarrassed — you have lots of company. Whether you lost money or not, report the scam, and quickly.
“Fraud is a crime that affects more than just your finances, and the emotional tolls can linger for victims long after the fraud is uncovered,” says Chris Lynam, director general of the CAFC. “If you’ve been targeted, report it. It’s the best way to help with the fight against fraudsters and could help someone else from becoming a victim.”
Contact the CAFC, online or by phone at 1-888-495-8501. Contact your local police as well. And if you’ve given away your banking or credit card details, use the number on your card, your last statement or the website to call the bank and have your account frozen or card cancelled.
And grandparents, be ready to hang up if you hear from “Kevin” again in a few months! And be especially wary; the newest wrinkle is AI-generated technology that will make your fake grandchild sound and possibly even look like the real person.
*Names have been changed
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