Financial Abuse

Financial Abuse

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. (Source: Government of Canada)

The Canadian Anti-Fraud Centre (CAFC) collects information on fraud and identity theft. The CAFC provide information on past and current scams affecting Canadians. Many older adults are more vulnerable to fraud. If you think you’re a victim of fraud, report it! We help citizens and businesses report fraud, learn about different types of fraud, recognize the warning signs of fraud and protect themselves from fraud. We also provide information to law enforcement and governments in Canada and around the world. Our goals include disrupting crime, strengthening partnerships between private and public sectors and maintaining Canada’s economy. Fraud: Recognize, Reject and Report. To learn more about the fraud, explore the CAFC website.


Canadian Anti-Fraud Centre: 12 Scams of the Holidays
Canadian Anti-Fraud Centre: 2021 Fraud Prevention Toolkit for Seniors
Canadian Anti-Fraud Centre: COVID-19 Vaccine Scam
Canadian Anti-Fraud Centre: Extortion Email Featuring a Password
Canadian Anti-Fraud Centre: Grant Scams
Canadian Anti-Fraud Centre: Loan Scams
Canadian Anti-Fraud Centre: Non-Delivery Scams
Canadian Anti-Fraud Centre: Password Protection Scams
Canadian Anti-Fraud Centre: Romance Scams
Canadian Anti-Fraud Centre: SIN Scams
Canadian Anti-Fraud Centre: Social Media – Business Scams
Canadian Anti-Fraud Centre: Tax Credit Scams
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
RCMP: Common Scams
RCMP: Internet Scams
RCMP: Investment Scams
RCMP: Protect yourself from COVID-19 related Phishing scams
RCMP: Ransomware Scams
RCMP: Social Media Scams
RCMP: Text & Phone Scams

Other Helpful Organizations

BC Securities Commission – Elder Financial Abuse

Ombudsman for Banking Services and Investments (OBSI)

Other Web Links