Financial Scams Targeting Seniors in Canada

Financial scams are all over the news — from fake callers claiming to be from the Canada Revenue Agency to banks requesting security information by text message — financial scams are on the rise, particularly those targeting seniors. According to the Government of Canada, “fraud is the number one crime against older Canadians.”The seniors in our lives have built their savings through a lifetime of hard work, but unfortunately with age comes greater vulnerability to abuse and criminal activity. Many seniors in Canada have a sizable nest egg which they are using to fund their retirement and it’s this combination of wealth and vulnerability that makes seniors a popular target for financial fraud.Financial ScamsHow can you help protect the seniors in your life from becoming the next victim of a scam? Know the risk factors and be aware of common scams and how to prevent them:Risk FactorsCriminals and professional scammers


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