How Seniors Can Outsmart Scammers

When a Victoria man recently lost $1.7 million to a convincing bank fraud scam, it made headlines across Canada—and for good reason. It’s a reminder that even the savviest among us can fall victim to sophisticated schemes designed to prey on trust.

According to CBC News, “Last year alone, Canadians lost more than $643 million to bank fraud — an increase of nearly 300 per cent since 2020.” As scams become more convincing, experts warn that our financial systems aren’t keeping pace with the criminals who exploit them.

But there’s good news: knowledge is the best defence. Seniors who take the time to educate themselves can dramatically reduce their risk of being defrauded.

Why Scammers Target Seniors

Fraudsters often target older adults because they’re perceived as polite, financially stable, and less likely to hang up on a caller or question an email. Many scams play on emotions—fear, urgency, or compassion—using stories about loved ones in trouble, fake government calls, or threats to bank accounts.

Education Is Empowerment

The best way to avoid becoming a victim is to stay informed. Across British Columbia, organizations are stepping up with free tools and seminars designed to help seniors recognize red flags, protect personal data, and respond safely to suspicious contacts.

Most local senior centres and community organizations regularly host fraud prevention workshops—valuable opportunities to learn in a relaxed setting with peers and experts.

Trusted Resources for Staying Safe

Here are some links to reputable places to learn more and strengthen your defences:

• 📘 RCMP Seniors Guidebook to Safety & Security
• 🗓️ Seniors First BC: Upcoming Fraud Prevention Seminars
• 🔒 Office of the Seniors Advocate BC: Fraud Prevention Resources
• 🏦 Canadian Bankers Association Fraud Prevention Toolkit for Older Adults
• 🚨 Canadian Anti-Fraud Centre: Information and Reporting

How Seniors Can Outsmart Scammers

Protecting yourself from financial fraud doesn’t require advanced tech skills—just awareness and caution.

Here are simple, powerful ways to stay one step ahead:

• Pause before acting. If something feels urgent or threatening, take a breath. Scammers rely on panic.
• Verify independently. Hang up and call your bank, government agency, or family member directly using a trusted number.
• Guard your personal information. Never share your SIN, banking details, or passwords over the phone, via text, or via email.
• Check sender addresses carefully. Fraudulent emails often look legitimate but contain small spelling errors or unusual links.
• Set up two-factor authentication on your online accounts to add an extra layer of protection.
• Avoid clicking unknown links or attachments. Even one click can install malicious software.
• Shred sensitive documents. Old bills, bank statements, and expired ID should never go in the trash intact.
• Stay updated on common scams by visiting the Canadian Anti-Fraud Centre.
• Talk openly about scams. Share warnings and experiences with friends and family—awareness protects everyone.
• Trust your instincts. If something sounds too good to be true, it almost always is.

Empowerment starts with education. By learning how scams work and talking about them openly, seniors across BC can stay safer, stronger, and in control of their finances.