According to the Canadian Department of Justice, approximately 10% of Canadian seniors are
victims of consumer fraud each year. Seniors continue to be a
rapidly increasing segment of the population targeted by con
artists. In fact, financial scams targeting seniors have become so
prevalent, that they are now considered to be “the crime of
the 21st century.”
Common scams targeting seniors
1. Telemarketing/phone Scams
With no paper trail or face-to-face interaction, these scams are
incredibly difficult to trace.
a. CRA (Canada Revenue Agency) Scam –
Claiming to be with the CRA, the caller requests personal
information such as a social insurance number OR makes threats of
jail time for unpaid taxes often offering payment solutions with
gift cards.
