Key Takeaways
- • Investment and cryptocurrency scams ranked as the #1 riskiest scam type in Canada in 2025, with more than 80% of targeted victims reporting monetary losses, according to the BBB Scam Tracker Canada Risk Report.
- • Crypto investment fraud has surged dramatically, with the Canadian Anti-Fraud Centre reporting that crypto investments represented over 70% of total investment fraud losses in 2024, and crypto-related cases rising 400% between 2017 and 2020 (from 734 to thousands of cases annually).
- • Reported investment fraud losses in Canada reached $308.6 million in 2022, nearly double the $164 million reported in 2021, demonstrating sustained acceleration in this fraud category.
- • Ontario alone saw nearly $23 million in crypto investment fraud losses in the first nine months of 2025, highlighting regional concentration of losses and ongoing victimization patterns despite growing awareness.
- • Overall median loss per scam victim declined to $151 in 2025 from $311 in 2024, but victim susceptibility increased significantly to 64.9% in 2025 from 59.5% in 2024, indicating fraudsters are targeting broader populations with smaller-value schemes.
Summary
Investment and cryptocurrency fraud has consolidated its position as Canada's riskiest scam category, according to the 2025 BBB Scam Tracker Canada Risk Report. The threat landscape reflects both the scale of losses and the breadth of victims affected: more than 80% of individuals targeted by investment and crypto scams reported monetary losses, substantially higher than susceptibility rates for other fraud categories.
The growth trajectory of cryptocurrency fraud in Canada has been particularly steep. Between 2017 and 2020, the RCMP documented a 400% increase in crypto-related fraud cases, rising from 734 documented cases to thousands annually. The Canadian Anti-Fraud Centre's 2024 data underscores the dominance of crypto within the broader investment fraud category, with crypto investments accounting for over 70% of all reported investment fraud losses. In absolute terms, Canadians reported $308.6 million in investment fraud losses in 2022, nearly double the $164 million figure from 2021—a trajectory that continued through 2024 and into 2025.
Regional data illustrates the ongoing concentration of losses. Ontario recorded nearly $23 million in crypto investment fraud losses during the first nine months of 2025 alone, indicating that despite mounting public awareness and regulatory attention, fraudsters continue to extract substantial sums from Canadian investors across key markets.
The 2025 report reveals a shift in scammer tactics toward lower-value individual transactions paired with broader targeting. While the median loss per victim declined to $151 in 2025 from $311 in 2024, victim susceptibility—the percentage of targeted individuals who reported losses—increased meaningfully from 59.5% in 2024 to 64.9% in 2025. This pattern suggests fraudsters are deploying higher-volume, lower-friction schemes targeting wider demographic segments. Employment scams ranked second on the 2025 riskiest scams list, with a median loss of $2,500 per victim, while home improvement scams ranked third.
The growth trajectory of cryptocurrency fraud in Canada has been particularly steep. Between 2017 and 2020, the RCMP documented a 400% increase in crypto-related fraud cases, rising from 734 documented cases to thousands annually. The Canadian Anti-Fraud Centre's 2024 data underscores the dominance of crypto within the broader investment fraud category, with crypto investments accounting for over 70% of all reported investment fraud losses. In absolute terms, Canadians reported $308.6 million in investment fraud losses in 2022, nearly double the $164 million figure from 2021—a trajectory that continued through 2024 and into 2025.
Regional data illustrates the ongoing concentration of losses. Ontario recorded nearly $23 million in crypto investment fraud losses during the first nine months of 2025 alone, indicating that despite mounting public awareness and regulatory attention, fraudsters continue to extract substantial sums from Canadian investors across key markets.
The 2025 report reveals a shift in scammer tactics toward lower-value individual transactions paired with broader targeting. While the median loss per victim declined to $151 in 2025 from $311 in 2024, victim susceptibility—the percentage of targeted individuals who reported losses—increased meaningfully from 59.5% in 2024 to 64.9% in 2025. This pattern suggests fraudsters are deploying higher-volume, lower-friction schemes targeting wider demographic segments. Employment scams ranked second on the 2025 riskiest scams list, with a median loss of $2,500 per victim, while home improvement scams ranked third.
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