Ontario Provincial Police urge caution after Cayuga resident loses over $100K in online investment scam

The Haldimand County detachment of the Ontario Provincial Police is urging residents to be vigilant after a Cayuga resident was defrauded of over $100,000 by investing in crypto currency with an online crypto currency brokerage.

The alleged fraud happened between January 3 and March 8, 2022.

At this time, the victim is not able to retrieve their money from the investments," Const. Mary Gagliardi wrote in a press release. Due to the large amount of funds missing, the Haldimand crime unit has taken carriage of the investigation."

The OPP have several tips for residents to help them avoid becoming victims of fraud:

Keep a close eye on your bank account and credit card transactions

Never give out any personal information to someone you don't know

Always independently verify all contact information - don't just call a number or use an email address that an unknown person provides you with, even if it seems legitimate; keep in mind that the name on a caller ID display may be fraudulent

If someone calls and identifies themselves as a representative of your bank, hang up and call your local branch to ensure that the call is legitimate

To learn more ways to protect yourself from frauds and scams, the OPP recommends reading the Little Black Book of Scams, available online at https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03074.html

Also, if you receive a suspected fraudulent call, text or email, or if you've been a victim of a fraud, you're encouraged to report the incident to the Canadian Anti-Fraud Centre by calling 1-888-495-8501 or visiting http://www.antifraudcentre-centreantifraude.ca.