Fraudsters are increasingly depending on artificial intelligence (AI) to create fake identities and scam us out of our money. Chatbots, deepfakes and fake reviews are often successful in leading unsuspecting victims to financial loss, identity theft, and other serious consequences.
This month, Metro Vancouver Crime Stoppers (MVCS) and the BC Securities Commission (BCSC) are urging British Columbians not to fall victim to AI-generated scams and report information anonymously to either agency.
“Like any crime, anyone with information about a fraud that could help police or agencies like the BCSC catch fraudsters can be submitted to Crime Stoppers ANONYMOUSLY,” said Linda Annis, Executive Director of Metro Vancouver Crime Stoppers. “You can certainly call police but an anonymous call to Crime Stoppers means no one will know who you are. The BCSC can also accept information anonymously through its Whistleblower Program.”
The frauds with the highest level of financial impact are investment fraud, phishing, and romance scams designed to get victims to send money, or give away sensitive information like social insurance numbers, passwords or banking details.
The BC Securities Commission has launched an edgy new fraud prevention ad campaign to help British Columbians avoid becoming a victim to AI investment scams.
The “We’re Not All F**ked” campaign acknowledges the anxiety many feel about AI while encouraging British Columbians to watch out for red flags of any investment scam including claims of guaranteed high returns with no risk, pressure to commit quickly, unanswered questions, or exploitation of family, friendship or social connections to create a sense of trust.
A special BCSC microsite avoidAIscams.ca offers tips and information for investors to protect themselves from AI investment scams.
“AI is a new tool for fraudsters to use to deceive investors, but the warning signs are much the same as other types of investment fraud,” said Pamela McDonald, BCSC’s Director of Communications and Education.
“You are the first line of defense. So, it’s more important than ever that you pause, think critically, and do your own research before investing.”
The Canadian Anti-Fraud Centre (CAFC) says Canadians lost more than $638 million to fraud in 2024, and the problem gets worse every year. Losses reported to the CAFC since 2021 total more than $2 billion, with only an estimated five to 10 per cent of fraud actually being reported.
About Metro Vancouver Crime Stoppers
Metro Vancouver Crime Stoppers is a non-profit society and registered charity that receives anonymous tip information about criminal activity and provides it to investigators. Anonymous tips may be provided through Crime Stoppers’ downloadable “P3” app, calling Crime Stoppers at 1-800-222-8477, online at solvecrime.ca, or by following the link on the Metro Vancouver Crime Stoppers Facebook page.
Metro Vancouver Crime Stoppers accepts tips in 115 different languages and will pay a reward of up to $5,000 for information leading to an arrest, a charge, recovery of stolen property, seizure of illegal drugs or guns, or denial of a fraudulent insurance claim. Find MVCS on X (Twitter): @solvecrime, Instagram: metrovancouvercrimestoppers and You Tube: @metrovancouvercrimestoppers.
