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: