Media reports Canada as no.1 target for Ukrainian scammers
Date
3/10/2024 6:17:03 AM
(MENAFN) As Canada grapples with a surge in fraudulent activities, a recent report by state broadcaster CBC/Radio Canada sheds light on the alarming rise of scams originating from Ukraine and Eastern Europe, with Canadians being labeled as "target No.1." The nation's vulnerability is attributed to perceived inaction by authorities, creating an environment that scammers find conducive for their operations.
The report unveils a vast investment scam Network operating online and through phone calls, detailed by a whistleblower known as 'Alex.' According to him, the network comprises "hundreds" of fraudulent call centers, with one center in Kiev alone employing approximately 150 individuals solely dedicated to "stealing the life savings of Canadians."
Statistics provided by the Canadian Anti-Fraud Centre (CAFC) reveal a staggering increase in losses due to investment scams in 2021, surpassing Can$300 million. This amount marks a ninefold rise compared to the previous year, with half of the losses attributed to cryptocurrency fraud.
Alex contends that Canada has become an attractive target for scammers due to the perceived leniency in prosecuting such activities. "I see that Canadians are target No. 1. I think it's because law enforcement has made no real prosecutions of the scammers," he stated in an interview with CBC. The absence of robust legal consequences may create an impression among scammers that Canada is an easy and lucrative target.
The modus operandi of these criminals involves luring victims through social media platforms, including Facebook, with enticing ads promoting risk-free, high-yield cryptocurrency investments. Notably, these advertisements often feature images of prominent Canadian figures, such as Prime Minister Justin Trudeau or opposition leader Pierre Poilievre, purportedly endorsing the fraudulent schemes.
This rising trend of scams originating from Ukraine and Eastern Europe not only highlights the need for increased vigilance among Canadians but also underscores the urgency for authorities to address gaps in enforcement. The article delves into the implications of these scams on Canadian citizens, the challenges faced by law enforcement, and the potential measures required to curb the surge in fraudulent activities targeting the nation.
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