Published March 4, 2025 • 8 Min Read
One of the best ways to protect yourself from fraud is to be aware of the most common scams that fraudsters are leaning into right now. Learn some of the top scams that are emerging in 2025 and how to protect yourself against them.
Bank Impersonation scams
A bank impersonation scam may start with a phone call, text or email from what looks to be your bank. In many cases, the communication will claim there is an urgent issue with your account – such as a security breach, an unauthorized transaction or some other suspicious activity that has taken place.
Posing as a legitimate representative, the fraudster may ask for your online banking password, your PIN or a one-time code you may have received from your bank. They claim these codes will verify your identity but in reality, they act as the key that gets them access to your account.
Download this printable sheet that covers the red flags of bank impersonation scams and reviews the key ways you can protect yourself.
Crypto scams
Cryptocurrency prices soared after the 2024 U.S. presidential election, buoyed by expectations of an easier regulatory environment. Cryptocurrency scams, which were already gaining momentum, have followed suit. Recent data shows that in 2024, crypto scams likely hit a new record, with revenue increasing nearly 40% compared to the year before.
While the sector’s popularity plays a role, Artificial Intelligence is perhaps the biggest driver. Generative AI has made it easier and cheaper for scammers to expand crypto fraud, with deepfake technology enabling fraudsters to create fake celebrity endorsements for their crypto schemes, boosting their success rate. Even Netflix released a true-crime documentary last year, about three fraudsters who conned millions from investors.
Other crypto scams that have been particularly lucrative for fraudsters include crypto drainers, where fraudsters pretend to be legitimate blockchain projects or crypto services, tricking victims into connecting their cryptocurrency wallets to malicious platforms. Once permission is granted, the scammers drain all the funds from the wallet.
More traditional investment scams also remain popular in 2025 – high-yield investment scams, which promise unrealistically high returns (and operate as Ponzi schemes), remain prevalent.
Learn more about investment and crypto scams and how to protect your savings.
Romance scams
Romance scams are typically carried out online through dating sites, apps or other social media channels. They start when a cybercriminal creates a fake profile and contacts an individual looking for a romantic connection. The scammer will then start to build a relationship and aim to gain trust very quickly. Once that’s done, they will ask for money, typically for the purposes of airfare (to come visit) or to get themselves or a loved one out of trouble.
Victims of romance scams come from all walks of life, income levels, education, age, gender and profession. The reason they are so successful is that scammers put a lot of time and effort into establishing a connection that feels real and meaningful – and once the victim has fallen in love, it’s easy to miss the warning signs of the scam.
Romance scams and crypto scams have become intertwined, as would-be romantic partners convince their victims to make investments in crypto as part of their scam. Victims often don’t realize until it’s too late that both their romantic interest and their money have disappeared.
Learn 5 ways to spot a romance scam.
Employment scams
With challenging economies worldwide and many people finding it difficult to secure meaningful employment, job scams are on the rise. From unsolicited email offers to fake hiring managers promoting work on social media, these scams lure job seekers with promises of work, advancement, great pay and benefits.
There are a number of employment schemes running at the moment. Here are some of the most common:
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Fake job listings – these listings normally ask candidates to pay a fee to complete their application or get started
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Fake hiring firms – scammers will pose as an agency, institution or hiring firm and request a screening fee
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Email offers – fake job offers (often about jobs you never applied for) may ask for sensitive information such as ID and bank account numbers to get you onboarded
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Online interviews – may ask you to input sensitive information in order to gain access to the interview
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Work-from-home jobs – where you may be required to send money to get equipment, like a computer and monitor
To protect yourself from job scams, be sure to do your research before applying for a position. Visit the company’s website and compare what you see against what’s in the job listing. Also beware of offers that seem too good to be true, and don’t engage in requests to transfer funds – no legitimate employer will ask you to write cheques, send gift cards or send wire transfers to “get started” on a job.
Travel scams
Travels scams continue to be widespread in 2025 as fraudsters use both traditional tactics and new methods to deceive travellers. Notable scams include:
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Fake vacation rentals: Scammers create professional-looking websites for properties that either don’t exist or are very different from their descriptions
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Fake travel agencies: Fraudsters offer vacation packages at low prices. When it comes time to travel, vacationers find their reservations aren’t valid
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Too-good-to-be-true offers: Unsolicited offers claiming free vacations or discounted trips trick would-be travelers out of vacation funds
Learn how to stay cyber safe before, during and after vacation
AI scams
AI-powered scams are the ones to watch in 2025, as AI has opened up a wealth of opportunities for scammers. In December 2024, the FBI posted a public service announcement listing some of the ways that criminals use generative AI to trick victims, and global reports show that deepfake-related crime increased by more than 1,500% in the Asia-Pacific region from 2022 to 2023.
Around the world, Generative AI is being used to advance a number of scams, making existing scams more believable. Here are some of the most common so far in 2025:
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Phishing and smishing: Scammers can use AI to write more convincing and natural-sounding phishing emails and text messages.
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AI-generated images: AI makes it easy for scammers to create professional-looking websites, social media ads, fake photos for social media profiles and much more.
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Deepfake videos: Scammers can create AI-generated videos to promote fake products, charities or investments. They can also trick people into thinking they are speaking to a real person. In one of the most sensational cases of 2024, a Hong Kong finance worker was duped into transferring more than $30 CAD million to fraudsters who used deepfake technology to disguise themselves as the firm’s chief financial officer and other senior colleagues.
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Fake and cloned voices: Scammers can use AI-generated or altered voices for phone-based scams, such as the grandparent scam.
Learn more about AI-powered scams and how to protect yourself against them.
Phishing scams
Phishing has long been one of the most common and popular types of scams. This is where victims might receive a message impersonating an individual or organization (i.e., a delivery company, financial institution, or government agency) claiming that there’s an issue and immediate action is required in order to fix it. Alternatively, the message may say that you’re owed a refund or that you qualify for a special prize, which you need to claim right away.
The goal of a phishing message is to either get you to click on a link that takes you to a fake website, or to share personal or financial information. Often urgent in nature and unsolicited, phishing messages are increasingly convincing and put pressure on their victims, not giving them time to think through their actions.
Grandparent scams
The grandparent scam is a highly pervasive and successful scam that preys on the emotions of family members. In this scam, a grandparent receives a phone call from a fraudster pretending to be their grandchild. The fraudster may use deepfake technology to mimic a grandchild’s voice, making the call all-the-more convincing. Saying they are hurt or in trouble, the fraudster will convince the grandparent that they need money immediately.
Learn how the grandparent scam works and how to protect yourself.
The trending scams of 2025 are a mix of proven techniques and new technology that help fraudsters create convincing scams that trick victims out of their savings and their personal information.
The best way to protect yourself and your loved ones is to stay informed. As scams are changing all the time, visit the RBC Scam Alerts page to learn the latest scams today.
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