Following closely on the heels of the introduction of new tools designed to provide safety enhancements to WhatsApp users, Meta has announced that it has taken 6.8 million scam accounts off the platform in the first half of 2025.
CRA has lost about $190 million in payments made to scammers since 2020, with the highlight item being a $40 million tax refunds scam in which the perpetrator simply logged into an account and requested the astounding sum of money using false T4A income reporting slips.
Investment scams that involve grooming a target to invest in fraudulent endeavors took off like a rocket in 2022 and led all cyber crime, racking up $3.3 billion in losses on the year.
Cybercrime outfits are increasingly shifting to highly structured and advanced fraud operations, with "scams-as-a-service" models that reflect the similar offerings for other attack types such as ransomware.
