How you can help seniors avoid becoming victims of fraud

June 17, 2025

Financial fraud is a growing concern across Canada, affecting millions each year. Sadly, older Canadians are increasingly being targeted by scammers who exploit trust, isolation, and unfamiliarity with technology. At the Black Manitobans Chamber of Commerce, we believe in strengthening and protecting our community especially our seniors, who are too often targeted.

One of the most devastating examples is the “grandparent scam”, where fraudsters impersonate loved ones in distress to extract money quickly. The numbers are alarming:

In 2021, the Canadian Anti-Fraud Centre (CAFC) reported 379 cases involving 115 victims, with over $1.7 million lost to this scam alone.
In just the first half of 2022, that number rose to 674 cases with 273 victims, totaling $2.7 million in losses.

And those are only the cases we know about. The CAFC estimates that fewer than 5% of victims actually report being defrauded, often because of embarrassment or shame.

As scammers evolve, using more sophisticated tools and technology, it’s critical for families and communities to talk openly about fraud. Sharing knowledge is one of the best ways we can protect each other.

Here’s how you can help seniors stay safe:

Talk about common scams.
Make sure your elders are aware of the most frequent types of fraud — romance scams, investment scams, and especially the grandparent scam. Direct them to the Canadian Anti-Fraud Centre for updates on trending scams.
Encourage digital confidence.
Help seniors understand safe banking practices. Encourage them to use secure online or telephone banking to monitor their accounts and consider signing up for text alerts from their financial institution.
Remind them it’s okay to ask questions.
If something feels off, it’s perfectly fine to stop and check with a trusted friend or family member. Scammers rely on urgency — taking a moment can make all the difference.
Build a fraud-resistant community.
Fraud doesn’t discriminate. In 2021, Canadians reported losing $379 million to scams — and again, that’s just what was reported. By July 31, 2022, the CAFC had already received 52,735 reports, totaling over $284 million in losses. This is a national issue — and a local one, too.

Let’s remove the shame that comes with being targeted or tricked. Talking about fraud openly helps keep others safe. No one should feel alone or embarrassed about being deceived — especially not in our community.

At BMCC, we’re committed to economic empowerment, education, and protecting the financial wellness of our community members, especially our seniors. Share this information with someone you care about — it could save them more than just money.