TL;DR: On August 25, 2026, the Canadian Anti-Fraud Centre (CAFC) reported roughly C$351 million in fraud losses for the first six months of 2026. Investment fraud led at about C$139.6 million. The CAFC also estimates that only 5% to 10% of fraud is reported, so real losses are likely much higher.
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What the CAFC reported
The Canadian Anti-Fraud Centre: fraud trends, first six months of 2026 page lists about C$351 million in reported losses between January and June 2026. The centre stresses that this counts only what people reported: it estimates just 5% to 10% of fraud is reported.
Put simply, the figures show that the largest losses come from schemes built on trust and urgency rather than technical hacking. A convincing call, email or investment pitch is usually the starting point, which is why the centre's advice centres on slowing down and checking independently.
Top loss categories
- Investment fraud: about C$139.6 million
- Spear phishing: about C$57.7 million
- Bank investigator fraud: about C$28.6 million
- Extortion: about C$25.5 million
- Recovery fraud: about C$13.7 million
Recovery fraud is worth noting: it targets people who have already lost money, by promising to get it back for a fee. Our explainer on bank impersonation scams in Canada covers the bank-investigator pattern in more detail, and a fake bank investigator scam in Guelph shows what one such case looked like.
CAFC protection advice
- Verify unexpected requests using contact details you look up yourself.
- Never move money to a 'safe account' on a caller's instructions.
- Never pay upfront to recover money lost to fraud.
- Do not share passwords, verification codes or remote access to your devices.
- Talk to a trusted person before sending money under pressure.
If you have been targeted
Contact your financial institution immediately, report to your local police, and file a report with the Canadian Anti-Fraud Centre. Reporting also helps the numbers above become more accurate. Step-by-step help is in how to report fraud to the Canadian Anti-Fraud Centre, and what to do after a scam, wherever you live applies wherever you live.
Frequently Asked Questions
How much did Canadians lose to fraud in early 2026?
The CAFC reported approximately C$351 million in fraud losses for the first six months of 2026, in a report dated August 25, 2026.
Which fraud type cost the most?
Investment fraud, at about C$139.6 million, followed by spear phishing at about C$57.7 million.
Is the real total higher?
Very likely. The CAFC estimates only 5% to 10% of fraud is reported.
Should I pay a company to recover money I lost?
No. The CAFC advises never paying upfront to recover funds lost to fraud, because recovery fraud is itself a scam category.
Sources
- Canadian Anti-Fraud Centre: Fraud trends for the first 6 months of 2026 (Aug 25, 2026)
- Canadian Anti-Fraud Centre
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- Canada Scam News: October 2026 Roundup and Warnings
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