Guelph Police getting more reports of recovery scams

The Guelph Police Service is warning the public about a recent rise in recovery scams.

It typically targets victims of other schemes, such as cryptocurrency scams, tech support scams, fund recovery scams or failure to process payment scams.

Police said the victim is contacted by a person claiming to be investigating the theft and offering to help them recover any lost money.

“Fraudsters will tell victims that there is a fee for their services and, in some cases, will ask for remote access to their computer or device,” a media release explained. “In the end, no funds are returned, and more funds are potentially stolen.”

Often, they will impersonate legitimate organizations.

“They will attempt to create an air of legitimacy by referencing involved police services or other organizations such as the Canadian Investment Regulatory Organization or will know details of the original scam as they were involved in it,” police added.

The Canadian Anti-Fraud Centre said recovery schemes were one of the top financial scams reported in 2024 and resulted in a total loss of $9.1 million.

They estimate, however, that only five to 10 per cent of victims actually report these incidents.

Guelph Police did not disclose any details of any recent cases but they did share the following safety tips from CAFC:

• If you’ve been a victim of fraud, fraudsters may target you again with a promise to get your money back
• Never be afraid to hang up the phone
• Never allow an unknown person to gain remote access to your computer/device
• Always have your computer/device serviced by a reputable local business
• Never pay an advance fee to obtain a refund
• Search engine optimization refers to the ability to have websites appear in the first results of an online search. Don’t assume that top results mean companies are legitimate