March is Fraud Prevention Month, and the Alberta RCMP are trying to raise awareness about some common scams that have resulted in millions of dollars being taken from innocent victims.

“Fraud has a devastating impact on individuals, families, businesses, and to the Canadian economy, which is why the RCMP believes that knowledge, awareness, and prevention are the best methods for protection,” says Inspector Allan Lai, Acting Officer in Charge of RCMP K Division Federal Policing for Southern Alberta.

Figures from the Canadian Anti-Fraud Centre say that 11,490 victims fell prey to scammers last year.

The Better Business Bureau has published a list of the top 10 scams in the country, and how much has been lost to each to date.

The Employment Scam is the most-reported scam. It’s basically a cheque-cashing scheme that’s simply too good to be true. It has bilked Canadians out of $5.3 million.

Romance scams are the second-most reported scam; online dating is big business to some scammers. Catfishing is when a fraudster fakes an identity and tricks someone via dating sites into false emotional or romantic relationships for financial gain. “Do not wire money to someone you’ve never met.” Romance scams top the list with $17 million lost.

Identity fraud is third on the list, where scammers steal your identity to apply for credit. Even children are susceptible to identity fraud. “Never carry your Social Insurance number with you, and change your bank and online passwords regularly.” $11 million has been lost to this type of fraud.

Advance Fee Loan is the fourth most common type of fraud reported, with $1.1 million lost. Remember that paying an up-front fee to get a loan is illegal in Canada and the US.

Fraudulent online purchase scams have bilked consumers out of $8.6 million.

To protect yourself, shop from legitimate websites, and use third-party payment portals, like PayPal.

Wire fraud, also called “spearphishing” has cost Canadians $13 million, and is reported as a big problem for the business community.

Millions are lost when scammers pose as companies and demand that money be wired to a fake company email.

“Be vigilant on any incoming emails,” is BBB’s advice.

“Big promises of low risk, high returns, and full refunds entice Canadians to take a chance,” making investment fraud cost $7.5 million. Seek professional investment advice.

Fake lotto winnings have tricked Canadians out of $3 million. Basically, remember, “If you didn’t enter, you didn’t win. Keep in mind, too, you never need to pay to receive lottery winnings.” If it’s too good to be true, it’s probably not.