17 The Business of Prairie Agriculture Better Farming | February 2024 This could be the easiest decision you’ve ever made. Visit AgExpert.ca/gearup to learn how. GEAR UP with Farming is full of tough decisions. AgExpert Field & Accounting software is designed to help Canadian farmers make more informed decisions with the help of their data. Sign up for AgExpert and you could win! Grand Prize 2024 Polaris RANGER 1000 EPS Enter Before March 31, 2024 7948_AGEX_2023_ContestQ4_4-625x7-5_Opt-2.indd 1 2023-12-19 1:52 PM Farms, like every other business, are at risk of being targeted by scammers. The Canadian Anti-Fraud Centre (CAFC) stated that losses from reported frauds increased from $165 million in 2020 to $379 million in 2021. These numbers don’t include losses from the many instances of fraud which weren’t reported. “Fraud is, across the board, generally unreported. It’s estimated that only five to 10 per cent of cases are reported,” explains Jeff Horncastle, Client and Communications outreach officer at CAFC. “It’s a huge problem that is likely into billions of dollars lost.” As prices for equipment and com- modities increase and more money changes hands, there may even be scammers who specifically focus on the agriculture industry. How can farmers protect themselves and their businesses from fraudsters? What’s out there? Over the past few years, the farm com- munity has seen common reports of scams involving equipment, hay, grants, and more. These scams seem to take advantage of those who are looking for a deal or experiencing financial stress. Hay scams seen across the Prairies in 2021 and 2022 have seemingly targeted producers desperate for feed for live- stock after years of drought. “With these challenging times in the economy, I would say most farm- ers are at risk because everyone is trying to save a bit of money. Anyone could be targeted,” explains Horncastle. Joel Bouvier, director of Cyber Security at Farm Credit Canada, says that there are a wide variety of scams that can affect farmers. “It could be anything. We’ve seen fraudulent equipment and supplies sales, some invoice scams, online bid- ding and auction scams suggesting you might receive a discount if you pay direct, grant scams, or government rebate scams,” says Bouvier. Farms that use a lot of technology, such as hog and dairy farms, may also be at high risk. Sometimes the hightech systems can be taken over, disrupting operations. “It’s becoming more pervasive. It used to be targeted at larger organizations, but now we see it happening to small farming operations too,” explains Bouvier. “There are hackers out there that specifically target agriculture. They are just putting stuff out there and hoping someone will take the bait.” Alberta Canola found themselves targeted by scammers in 2022 through a sophisticated phishing attack. “Similar to how many others are deceived, it was by a targeted fake boss email scam,” says Ian Chitwood, vice chair at Alberta Canola. “It came through email, so it looked legitimate, but it wasn’t.” Chitwood says the scam came Avoiding scams
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