The Strathcona County RCMP Financial Crime Unit is warning Sherwood Park and area residents about a sharp rise in cryptocurrency investment scams that have already cost locals more than $6 million over the past two years.
Police say fraudsters are creating professional-looking websites, promising guaranteed returns with no risk, and pressuring people to transfer funds quickly. In many cases, scammers ask for remote access to a victim’s computer or smartphone, often using software like AnyDesk, supposedly to help with the fake investment.
The advisory, posted on the Strathcona County website, lists five key red flags: promises of guaranteed returns, pressure to act fast, unverified platforms, requests for remote device access, and demands for extra payments to cover fake taxes or errors before any money can be withdrawn.
“These fraudsters are very good at what they do,” said Cpl. Dana Turner, lead investigator with the unit. “They hook you in, they use all their different kinds of tactics to make themselves seem really professional and really believable. They often go as far as even returning some money, so some people think that they’re actually making money on their investment. But the reality is they aren’t.”
County residents lost $3.8 million to cryptocurrency scams in 2024 and another $2.7 million in 2025. The Canadian Anti-Fraud Centre estimates only five to ten per cent of victims report fraud to police, meaning the real losses are likely much higher.
A permanent financial crime unit has been operating in Strathcona County since October 2024. Police are urging residents to use only well-known, regulated cryptocurrency exchanges or to talk to a local financial advisor in person before investing.
Anyone who has been targeted by a cryptocurrency scam can call the Strathcona County RCMP 24-hour non-emergency complaint line at 780-467-7741.
