A utilities-based crypto scam has cost a resident in Huron-Kinloss $215,000.
On Sunday, South Bruce OPP were called to a home in the municipality where the resident reported falling victim to the scam.
Police determined the fraud began when the resident received a bill from a utilities company with a higher than the anticipated amount owing. The resident spoke with a person they believed to be a representative with the utility and was advised that there had been a processing error. They were then instructed to make cryptocurrency transactions to rectify the issues.
The resident lost $215,000 before realizing the whole incident was fraudulent, police said.
The South Bruce OPP crime unit is continuing to investigate the scam. So far, no arrests have been made.
"We urge residents to be cautious when engaging in digital currency transactions and investments," police said in a statement. "Scammers often use fraudulent documents marked with logos and wording that can appear legitimate, which leads the victim down a path of surrendering personal information and banking details under the belief they are conversing with a legitimate source."
Police advise anyone who receives suspicious documentation to contact the company or financial institution in person or through a phone number known to be theirs. Police remind that the phone number or email address provided on the suspicious document could be fraudulent.
Additional resources to protect against fraud can be found at the Canadian Anti-Fraud Centre at 1-888-495-8501 or www.antifraudcentre.ca.
