The Ontario Provincial Police (OPP) is warning residents about increasingly sophisticated fraud schemes in which criminals impersonate financial institution representatives to gain access to victims’ banking and personal information.
The OPP East Region Integrated Fraud Awareness and Response Initiative (IFARI) has reported an increase in complaints from people contacted by fraudsters claiming to represent banks or credit card companies.
In these schemes, callers often tell victims that suspicious or unauthorized transactions have been detected on their credit cards or that money has been stolen from their bank accounts. They use the claims to create a sense of urgency and persuade victims to provide personal or financial information.
In a recent incident, fraudsters posing as representatives of a major financial institution used caller ID spoofing, a fraudulent verification website and other deceptive tactics to gain a victim’s trust.
The suspects subsequently accessed the victim’s financial and electronic accounts without authorization, changed email account settings and carried out fraudulent transactions. The incident resulted in significant financial losses through unauthorized credit card purchases.
According to the Canadian Anti-Fraud Centre (CAFC), Canadians reported losing more than $28 million to bank investigator scams in 2025.
How to protect yourself
The OPP is reminding residents to remain cautious when receiving unexpected calls about their finances.
Police recommend that residents be aware that criminals can use caller ID spoofing to make a call appear to come from a legitimate phone number. Do not assume the number displayed on your phone is genuine, never give someone you do not know or trust remote access to your computer, and if someone calls claiming to represent your financial institution, tell them you will call back. Use the telephone number printed on the back of your bank or credit card rather than a number provided by the caller.
Regional fraud prevention initiative
The IFARI is an OPP East Region pilot program launched in 2025. Led by a detective sergeant and supported by provincial constables from across the region, the initiative helps strengthen frontline fraud investigations.
The team reviews reports involving fraud and cyber-enabled fraud, provides investigative guidance and resources to officers, and connects them with specialized contacts. IFARI members also take on fraud investigations in collaboration with detachment leadership.
Anyone who suspects they have been targeted by fraud or has become a victim is encouraged to report the incident to their local police service and the Canadian Anti-Fraud Centre.
Reports can be submitted through the CAFC’s online Fraud Reporting System or by calling 1-888-495-8501.
