Financial abuse occurs when an individual in a position of power extracts funds or other resources to a degree where it negatively impacts the abused person’s financial stability. It can also occur when an older adult is coerced by a loved one to provide funds by exerting fear or shame.
Financial abuse is the most common form of adult abuse in seniors, older adults, and vulnerable adults.
Financial abuse often takes place simultaneously with other forms of abuse, like psychological abuse, and is frequently committed by someone the abused person knows, like a friend, family member, or caregiver. Having a network of support is key both to preventing and identifying financial abuse.
Many older adults are also vulnerable to scams and fraud. The Canadian Anti-Fraud Centre (CAFC) collects information on fraud and identity theft, while assisting the public in recognizing fraud, reporting fraud, and protecting themselves against fraud. The CAFC is committed to disrupting crime, strengthening partnerships between private and public sectors, and maintaining Canada’s economy.
Documents
- Bank of Canada: Be Cash Wise
- Canadian Anti-Fraud Centre: 2022 Fraud Prevention Toolkit for Seniors
- Canadian Anti-Fraud Centre: 12 Scams of the Holidays
- Canadian Anti-Fraud Centre: 2021 Fraud Prevention Toolkit for Seniors
- Canadian Anti-Fraud Centre: ArriveCAN – Fraudulent Third Party Websites Alert
- Canadian Anti-Fraud Centre: Bank Investigator
- Canadian Anti-Fraud Centre: Crypto Investments
- Canadian Anti-Fraud Centre: Cryptocurrency Scams
- Canadian Anti-Fraud Centre: COVID-19 Vaccine Scam
- Canadian Anti-Fraud Centre: Emergency/Grandparents Scam
- Canadian Anti-Fraud Centre: Evolution of the Types of Fraud
- Canadian Anti-Fraud Centre: Extortion Email Featuring a Password
- Canadian Anti-Fraud Centre: Fake Covid Vaccine
- Canadian Anti-Fraud Centre: Grant Scams
- Canadian Anti-Fraud Centre: Identity Fraud
- Canadian Anti-Fraud Centre: Investment Scams – What’s in a Fraudster’s Toolbox?
- Canadian Anti-Fraud Centre: Loan Scams
- Canadian Anti-Fraud Centre: Non-Delivery Scams
- Canadian Anti-Fraud Centre: Password Protection Scams
- Canadian Anti-Fraud Centre: Phishing: What’s in a Fraudster’s Tacklebox?
- Canadian Anti-Fraud Centre: Romance Scams
- Canadian Anti-Fraud Centre: Service Scams: What’s in a Fraudster’s Toolbox?
- Canadian Anti-Fraud Centre: SIN Scams
- Canadian Anti-Fraud Centre: Social Media – Business Scams
- Canadian Anti-Fraud Centre: Solicitation Methods
- Canadian Anti-Fraud Centre: Tax Credit Scams
- Canadian Anti-Fraud Centre: Top 10 Scams in 2022
- Canadian Anti-Fraud Centre: Ukraine Charity Scams
- Canadian Anti-Fraud Centre: What’s in a Fraudster’s Toolbox? vs What’s in yours?
- Grand-Prize Scam in Nanaimo
- Know your money: All Notes
- Know your money: Commemorative $10
- Know your money: Commemorative $20
- Know your money: Desmond Note
- Know your money: US Currency
- Provincial Learning Event – The Fraud Double Feature
- RBC: What is a Trusted Contact Person?
- RCMP: Business Email Compromise
- RCMP: Common Scams
- RCMP: Internet Scams
- RCMP: Investment Scams
- RCMP: Major Malware Threats
- RCMP: Protect Yourself from COVID-19 Related Phishing Scams
- RCMP: Ransomware Bulletin
- RCMP: Ransomware Poster
- RCMP: Ransomware Scams
- RCMP: Social Media Scams
- RCMP: Text & Phone Scams
- RCMP: Top Frauds Affecting Seniors
Other Web Links