March is Employment and Social Development Canada’s Fraud Prevention Month. Older adults remain a primary target, and scammers’ methods continue to grow more sophisticated.
It’s worth remembering that fraud can happen to anyone, regardless of age, education, or background. Being informed is one of the best ways to protect yourself and the people around you.
Common Scams & Prevention:
As described by Employment and Social Development Canada
Grandparent scam
Scammers impersonate a grandchild or relative in urgent trouble, claiming an accident, arrest or medical emergency. They pressure victims to send money immediately, while insisting they keep it a secret.
Protect yourself by reaching out directly to the family member using a known phone number, and never send money under pressure.
Investment scam
Scammers promise high returns with little or no risk. They often use fake credentials and high-pressure tactics, presenting themselves with professional‑looking materials to appear legitimate. Once money is sent, scammers disappear! Cryptocurrency scams have become prevalent, where fraudsters boast of successful investments to persuade victims, and use fake online trading platforms to convince individuals to send money or cryptocurrency.
Always do thorough research, verify registrations with provincial securities regulators, and never rush into an investment decision.
Romance scams
Scammers create fake online profiles on dating sites or social media to forge emotional connections with victims, ultimately requesting money for reasons such as travel expenses or medical emergencies. They may even offer to “coach” you on fake crypto investments. They typically avoid in‑person meetings and provide inconsistent personal details.
Protect yourself by being cautious with relationships that move quickly and never send money to someone you haven’t met in person.
Bank investigator scams
Impersonating bank staff, law enforcement or security investigators, scammers claim that your account has been compromised and instruct you to withdraw or transfer funds to a “safe” account that belongs to the scammer. Remember, legitimate banks will never ask you to move your money. Always verify directly with your bank!
Recovery scams
Following a fraud incident, scammers may contact victims, pretending to be from police, government, banks or recovery services. They claim they can help recover lost funds for a fee, preying on the victim’s hope and urgency. Some victims may search online for help, but this can lead them to fake recovery company websites that exploit their vulnerability.
Legitimate organizations will never charge for recovery services. Always verify the authenticity of a recovery service and seek assistance from trusted and established sources.
How to protect yourself and others:
- Watch Employment and Social Development Canada’s short video on common scams targeting older Canadians:
- Learn more about fraud prevention at the Canadian Anti-Fraud Centre: antifraudcentre-centreantifraude.ca
- Stay Informed
- Follow Employment and Social Development Canada’s Seniors in Canada Facebook page.
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signing up to the Secretary of State (Seniors) newsletter
- To report fraud and suspicious contacts to reportcyberandfraud.canada.ca
The best defence against fraud is to recognize it, reject it, and report it. Please share this information with your friends and family
