Here are the top 10 scams in Canada: BBB

Cryptocurrency scams jumped from fourth place in 2020 to the top spot in 2021.

The Better Business Bureau and the Competition Bureau Canada presents its annual list of top 10 scams in Canada. Photo by scyther5 /Getty Images/iStockphoto

The Better Business Bureau, which monitors scams affecting Canadians, released its annual risk report for 2021 on Monday.

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COVID-19 has changed people’s shopping habits, with more people now shopping and browsing online. This has likely contributed to a rise in online-based scams, such as phishing and scams involving counterfeit products.

The BBB and the federal Competition Bureau provides a primer on what scams are popular in Canada and tips on how you can protect yourself:

What is the top scam in the country?

Cryptocurrency scams. These scams jumped from fourth place in 2020 to the top spot in 2021. Although they make up less than five per cent of total scams, they exact the highest monetary loss, with an average median loss of $1,500.

People who fell for the scam told the BBB it had seemed like an easy way to invest and promised attractive returns.

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