Got a text about a Loblaws bread settlement recently? Toronto police say it might be a scam

Are you expecting some dough from the Loblaws bread settlement? Be sure to verify the source because scammers have been using the settlement as a new fraud technique.

March is Fraud Prevention Month – and just because it’s the last day of the month, it doesn’t mean fraud won’t keep on coming.

Back in 2024, Loblaws settled a class action lawsuit for $500 million for any packaged bread purchased for personal use between 2001 and 2021. Since then, many Canadians have been waiting for their payout.

While waiting, many people online shared their experience receiving suspicious texts about the Loblaws settlement.

A spokesperson for the Toronto Police Service (TPS) told Now Toronto they couldn’t find any specific reports on Loblaws phishing scams, but warned that text messages about the settlement are fraudulent.

“These text messages regarding the ‘bread price-fixing settlement’ are definitely a scam and should be deleted immediately,” the spokesperson said.

TPS’s Fraud Squad said residents should follow these steps to avoid fraud:

• Be cautious of unsolicited messages about settlements, refunds or compensation.
• Do not click links, provide personal or financial information.
• Verify claims directly through official company websites or trusted sources.
• Watch for urgency or pressure from the sender.
• Never share one-time passcodes or banking details.
• When in doubt, stop, verify and report to the Canadian Anti-Fraud Centre.

Now Toronto reached out to Loblaws, who explained that the “matter is currently with the plaintiffs.”

Now Toronto also reached out to CFM Lawyers, the counsel leading the settlement, but did not receive a response in time for publication.