Unfortunately, as we age, we can become targets for financial fraudsters. However, the good news is that you can significantly reduce your risk by being aware and taking a few precautions. This blog post will arm you with the knowledge you need to stay safe and protect your hard-earned money.
Common scams targeting older adults:
- The grandparent scam: A scammer poses as a distressed grandchild urgently needing money for bail, hospital bills, or car repairs. They'll plead with you not to tell their parents.
- The romance scam: Scammers create fake profiles on dating sites or social media to build relationships and then ask for money for emergencies or investments.
- The lottery scam: You receive a notification that you've won a lottery or prize but must pay a fee upfront to claim it.
- The government imposter scam: Someone claiming to be from the CRA, Service Canada, or another government agency demands immediate payment for taxes or fines.
- The tech support scam: You receive a call or pop-up message claiming your computer has a virus and must pay for remote tech support.
Ways to protect yourself:
- Never give out personal information over the phone, email, or online unless you initiate the contact.
- Be suspicious of unsolicited calls, emails, or mail.
- Don't be pressured to make quick decisions. Take your time and consult with someone you trust.
- Verify the identity of anyone who contacts you claiming to be from a government agency, bank, or other organization.
- Don't click on links or attachments in emails from unknown senders.
- Keep your computer and software up to date with security patches.
- Shred documents containing personal information before discarding them.
- Monitor your bank accounts and credit card statements regularly.
What to do if you think you have been scammed:
- Contact your bank or credit card company immediately.
- Report the scam to the Canadian Anti-Fraud Centre (CAFC) at 1-888-495-8501 or online at antifraudcentre-centreantifraude.ca.
- Contact your local police.
Key things to remember:
- You are not alone. Many people fall victim to scams.
- Reporting scams is important, even if you don't lose money. This helps authorities track down scammers and prevent others from being victimized.
- If it sounds too good to be true, it probably is.
You can protect yourself from financial fraud by staying informed and vigilant. Read through our resources below to learn more.
