Saskatchewan RCMP Warn of Surge in Financial Fraud Affecting Northern Communities
The RCMP reports a significant rise in financial scams aimed at the inhabitants of northern Saskatchewan.
Following an investigation of 57 recent complaints filed by victims in the vicinity, authorities stated that around $5.3 million was taken from individuals in the region during the period from December 2024 to March 2025, according to a Wednesday press statement released by the Saskatchewan RCMP.
Fraudsters mainly reach out to their targets through emails, calls, or social media platforms. They often pretend to offer exclusive “investment opportunities” or pose as attorneys or governmental representatives who claim they can assist individuals in recovering losses from prior frauds they’ve been ensnared in.
During the span from December 2024 to March 2025, officers from the Prince Albert Royal Canadian Mounted Police’s general investigation unit reported that the prevalent types of fraud included investment scams, payment cons, often referred to as “grandparent scams.” In these schemes, criminals pretend to be family members, usually grandchildren, contacting older individuals claiming they’re in urgent trouble and require immediate financial assistance.
The investment fraud schemes frequently entail enticing individuals to transfer funds into bogus websites that the perpetrators assert monitor investments. However, these sites can only be reached through cryptocurrencies outside of the conventional financial framework, according to the RCMP.
Famous personalities and prominent public figures are often mimicked to deceive individuals through social media advertisements. After making a deposit, the funds are never refunded.
In cases involving payment scams, criminals usually pretend to be reputable businesses or governmental organizations. They inform their targets that funds are being held due to administrative or technical issues. Subsequently, they request personal details along with payments via cryptocurrencies or gift cards, promising the release of these funds; however, the promised money never materializes.
How to identify and report scams
The Royal Canadian Mounted Police in Saskatchewan report that a victim in northern Saskatchewan suffered a loss of $350,000 after being duped by what was presented as an investment chance discovered via social media. The fraudster managed to persuade the victim to transfer cryptocurrencies to a fraudulent trading site. When the individual couldn’t withdraw any cash from this platform, another swindler, purporting to represent a recovery service, tricked them into paying additional sums under the guise of recovering their finances.
A different individual suffered losses exceeding $160,000 when duped into participating in a bogus stock market scheme. They were tricked by a fraudster who asked them to transfer funds via e-transfer and supplied fabricated financial documents for several months. The scammer then abruptly claimed that their account was compromised and all the money vanished.
A third person stated they lost $87,000 in a comparable fraudulent business scheme, this instance involving cryptocurrencies. Subsequently, they were also approached by another fraudster pretending to be from a bogus legal practice, demanding additional payment for retrieving their funds.
The RCMP state that numerous warning signs can point towards potential investment scams. Any unsolicited texts or phone calls proposing investment chances, particularly those promising unusually high returns, ought to be instantly regarded as dubious activities.
Messages claiming to come from a reliable entity such as a financial institution or an acquaintance asking you to send funds quickly should also raise your doubts.
Investment companies dealing with cryptocurrencies that lack registration with provincial or national securities regulators, as well as those without valid physical addresses listed in their contact details, should be viewed with significant suspicion.
The police advise that if an individual suspects they have fallen victim to fraud, they ought to promptly inform their banking institution with the aim of halting any pending transactions. Following this step, they should proceed to submit a formal complaint to law enforcement authorities. According to the Royal Canadian Mounted Police’s statement, acting swiftly increases the chances of having transfers frozen or reversed as investigations into the fraudulent activity commence.
Any instances of fraud should additionally be reported to the Canadian Anti-Fraud Centre by calling 1-888-495-8501 or contacting the federal agency.
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