Is it true laser hair removal increases your chances of cancer? are there any other risks?

No evidence: There is no evidence that laser hair removal causes cancer.

Laser hair removal: Cancer is caused by ionizing radiation like x-rays etc. Laser is non-ionizing radiation which does not cause cancer. The common risks are skin color changes and rarely burns.

Not aware of risk: I am not aware of any study that has shown a direct increase in skin cancer other than the indirect loss of sunblock protection offered by the hair. For example, bald individuals are more prone to skin cancer of the scalp due to sun exposure when compared to a hair bearing scalp.