Canadians lost $16.9M to romance scams in 2015, fraud specialist says

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Online romance scams are big business in Canada, bilking those looking for love out of almost $17 million according to new numbers from the Canadian Anti-Fraud Centre. Daniel Williams, senior fraud specialist at the CAFC, said in 2015 there were 990 reported romance scam cases involving 672 victims who lost a total of $16.9 million. That is up from almost $14 million in 2014. Williams said the financial cost is much higher than other mass-marketing scams. “It’s being done on an industrial scale by people who know what they are doing and are doing it very well,” he said. “They are learning from their mistakes. They are repeating what works and checking out what doesn’t work.”

Read the full article at Global News.