One of the most vulnerable groups to fall victim to scams are retirees. Scammers often target retirees because they have a significant amount of savings built up over the years and may be more trusting and less vigilant. It is important for retirees to educate themselves on common scams and learn how to protect their hard-earned retirement savings.
One common scam targeting retirees is the “grandparent scam”, where scammers will call pretending to be a grandchild in need of urgent financial help. Another common tactic is the “investment scam” where retirees are promised high returns on their investment, only to be left with empty pockets. To protect yourself, be wary of unsolicited calls, emails or texts asking for personal or financial information. Always do your research and ask for references before investing your money. It is also important to monitor your accounts regularly and report any suspicious activity immediately.
In addition, the government of Canada has resources available to help retirees protect themselves from scams. The Canadian Anti-Fraud Centre offers information on current scams and how to report them, as well as tips on how to avoid becoming a victim. They also have a fraud reporting system where you can report any suspected scams.
By being informed and vigilant, retirees can protect themselves from falling prey to scammers. Remember to never give out personal or financial information to anyone you do
