Did you know that one in five Canadians believes they know of a senior who is experiencing some form of abuse? Seniors from all walks of life are vulnerable to elder abuse and it’s happening in communities across Canada. Seniors could be coerced to give away money or purchase items they don’t need from strangers. Another form of elder abuse occurs when family members or friends pressure an elderly loved one to lend them money or change their will. Seniors often ignore these signs because they feel a sense of loyalty towards these people.

On June 15, the world recognized Elder Abuse Awareness Day. In our current environment, where repeated lockdowns and social distancing have caused many to feel isolated, it’s no surprise that virtual connections have increased, even among seniors. Here are some useful insights to help you recognize and prevent common online scams.

Answer our survey and get a FREE gift

A vaccine survey is a new trick used by fraudsters to steal an individual’s personal information. They send out emails or texts asking people to complete a survey about the Pfizer, Moderna or AstraZeneca vaccines and are offered a free reward in exchange.

Tips:

• Be cautious when opening email attachments or clicking links from unknown senders.
• Never give your bank account, credit card or personal information over the phone or email.
• Be wary of unexpected offers that sound "too good to be true".

Estimated shipping cost for puppy x 1 = $500

According to the Better Business Bureau (BBB), online pet scams have dramatically increased during the pandemic. It’s no surprise, as many people are looking for companionship to help ease loneliness, and getting a furry friend appears to be a popular choice. Fake sellers are taking advantage of this need by luring potential buyers to make full payment upfront to purchase the pet online or cover the shipping cost.

Tips:

• Do your research. Ask for detailed information about the pet, price and the owner.
• See the pet in person before you pay and consider doing a reverse image search of any photos provided.
• Be cautious when using e-Transfer to pay. Once you send the money, you can’t get it back.
• Report to the BBB, the Canadian Anti-fraud Centre (CAFC) and your bank/credit card issuer immediately if you become a victim of this scam.

Warning: Virus detected on your computer

The Computer Tech Support Scam occurs when fraudsters use various tactics such as phone calls or pop-up warnings to trick victims into believing there’s a serious problem with their computer. To fix the problem, the victim is manipulated by the fraudsters into paying by gift/credit card or money transfer.

Tips:

• Don’t click on any links or call the phone number that is shown on the pop-up warning and don’t be fooled by convincing looking company logos.
• Hang up if you didn’t expect the call.
• Don’t give anyone control of your computer.

Let’s work together to help protect your information

At CIBC, one of our top priorities is protecting our clients’ information. Visit CIBC.com to find out how we help protect you from fraud, and how you can help protect yourself. The Canadian Bankers Association also offers a free fraud prevention seminar for seniors as part of the Your Money – Seniors financial literacy seminar program. In Canada, you can report financial fraud and scams to the CAFC either through their website or at 1‑888‑495‑8501.

Remember, financial fraud isn’t your fault and you’re not helpless. Local, provincial and national police forces have a wealth of information and resources available on their websites to help you protect yourself and your loved ones.

 

Sources:

https://www.canada.ca/en/employment-social-development/campaigns/elder-abuse/reality.html#b

https://www.consumer.ftc.gov/blog/2021/03/ignore-bogus-covid-vaccine-survey

https://www.bbb.org/article/news-releases/23354-bbb-study-update-puppy-scams-rising-in-2020

https://www.consumer.ftc.gov/articles/how-spot-avoid-and-report-tech-support-scams