Financial Crimes Against Seniors: A Wake-Up Call for Canadians

Subtitle

• New Report Highlights Prevalence and Impact of Financial Abuse on Canada’s Elderly Population

Montreal, QC: A Sobering Revelation

The National Seniors Council of Canada released a report, titled “What We Heard: Financial Crimes and Harms Against Seniors.” This report brings attention to the alarming extent of financial abuses targeting Canada’s elderly population.

Engagement Events: Identifying Challenges

• Representatives from law enforcement, financial services, and senior advocacy groups came together
• Discussed challenges related to financial crimes against seniors
• Primary themes: identity theft, investment fraud, scams, and theft

Emotional, Physical, and Financial Impact

These financial crimes have profound impacts on victims:

• Isolated, ashamed, and vulnerable
• Significant economic toll
  • Millions of dollars lost each year
  • Impact on social programs

Solutions: Raising Awareness and Supporting Victims

The report emphasizes the importance of:

• Offering financial literacy programs for seniors
• Enhancing public education campaigns to identify and avoid scams
• Fostering a culture of openness to discuss financial concerns

Collaboration: A Coordinated Approach

The National Seniors Council urges collaboration between:

• Government agencies
• Community organizations
• Financial institutions

For more information on the report, visit the National Seniors Council’s website.