The Ontario Provincial Police are warning the public about increasingly sophisticated scams in which fraudsters impersonate bank representatives to steal personal information and money.
The OPP’s East Region Integrated Fraud Awareness and Response Initiative says it is seeing an increase in reports from victims contacted by scammers claiming to represent financial institutions.
Fraudsters often tell victims their credit cards have been used for unauthorized purchases or money has been stolen from their bank accounts.
In a recent case, scammers allegedly impersonated fraud representatives from a major financial institution, using caller ID spoofing and a fraudulent verification website to gain a victim’s trust and obtain personal and banking information.
The suspects then allegedly accessed the victim’s financial and electronic accounts, changed email settings and made unauthorized credit card purchases, resulting in significant financial losses.
According to the Canadian Anti-Fraud Centre, Canadians reported losing more than $28 million to bank investigator scams in 2025.
Police are reminding the public that caller ID can be manipulated and should not be trusted as proof of a caller’s identity. They also advise people never to give remote access to their computers to someone they do not know or trust.
Anyone receiving a call from someone claiming to represent their financial institution should hang up and call back using the phone number printed on the back of their bank or credit card.
The IFARI program was launched in 2025 as an OPP East Region pilot initiative. The team reviews fraud and cyber-enabled fraud reports, provides investigative guidance and resources to frontline officers, and conducts investigations in collaboration with local detachments.
Anyone who suspects they have been targeted by fraud or has lost money to a scam is encouraged to report it to local police and the Canadian Anti-Fraud Centre. Reports can be submitted through the centre’s online Fraud Reporting System or by calling 1-888-495-8501.
(Steve Berard)
