Protecting Seniors

Help protect yourself from financial fraud

Financial abuse is the most common type of abuse suffered by older Manitobans, affecting 4–10% of this group. Financial abuse occurs when money is taken from you without your permission or is misused by another. This type of abuse may include, among other things,

• Theft of money, bank cards or credit cards
• Using an older or vulnerable person’s money for purposes other than what the person intended
• The pressure to lend money without any intention of paying it back

In most cases, you will be victimized by a family member or close friend. Rarely is it a perfect stranger.

What are the risk factors?

Look for these signs that may put you, a family member or someone in your social circle at risk:

• Social isolation or withdrawal
• Inability to perform activities of daily living
• Being affected by physical or mental illness
• Dependency on alcohol, drugs or prescription medications
• Reliance on others for assistance with financial matters

How do I protect myself and others?

• Stay social – participate in community activities.
• Keep track of your finances by reviewing all your financial statements and related documents.
• Make sure you have a will, power of attorney and health care directive.
• Check into banking options that will make managing your finances easier, such as direct deposit and pre-authorized bill payments.

These guides will help you recognize and avoid financial abuse:

• Identifying and Preventing Financial Abuse: A Guide for Older Manitobans
• Financial Concerns Checklist

These guides will help you recognize and avoid investment frauds and scams:

• Protect Your Money: Avoiding Frauds and Scams
• Scam Artists Pursue Adults over 50