Scams targeting seniors are on the rise. In 2024, older adults in Canada lost 178 million dollars to financial scams, a 300 percent increase from 2020, according to a House of Commons committee report. This is also an underrepresentation, since many people do not report when they’ve been scammed, out of embarrassment.
Radio Waterloo interviewed Cosmin Munteanu, an associate professor at the University of Waterloo, and the Schlegel Research Chair in Technology for Healthy Aging at the Research Institute for Aging, as well as David Parkinson, founder of the John Parkinson Family Foundation to understand why senior-targeted scams on are the rise, the signs of senior financial abuse, the most common types of scams, and how to take proactive action.
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