Preventing Financial Exploitation

Preventing Financial Exploitation - Highlights PDF

Frequently Asked Questions (FAQ)

  1. How can I protect myself from financial abuse?
  2. How can I protect myself from economic crime?
  3. How can my group or organization get more information about the financial abuse and economic crimes against seniors?
  4. What else can be done to prevent financial exploitation?
  5. How can I get more information about financial exploitation?

1. How can I protect myself from financial abuse?

Knowledge is the best defense. Protecting yourself from financial abuse involves conducting your own personal financial affairs as much as possible and making provisions for assistance such as joint bank accounts, power of attorney and advance health care directives with care.

Conducting Your Financial Affairs

Seniors may be perceived to be an easy target because many believe seniors are unaware and poorly informed. Seniors are increasingly becoming techno-savvy internet users, and are recognizing the need for education and awareness around conducting their financial affairs.

It is important to plan ahead in case you become unable to manage your affairs alone. If you plan ahead while you are able, you and your loved ones can avoid needing to apply for guardianship. Planning ahead allows you to make your wishes known about how you want your personal and financial affairs handled, and it allows you to state your wishes about how decisions are to be made about medical treatment if you become unable to make those decisions yourself.

Many people have questions about misuse of Powers of Attorney. Make sure you have advice from a lawyer if you decide that you want to give someone a power of attorney. The legal term used to refer to the person you name to act for you is “attorney”, but don’t be confused by the use of this word. The person you name to act for you does not have to be a lawyer.

When appointing your attorney, make sure that you talk in depth with the person about their values and ethics, and what they might do in certain circumstances. Make sure that your attorney understands what you want, can understand and respect your values, and that you are confident that your wishes would be respected.

The Legal Information Society of Nova Scotia has some great information on their website about Powers of Attorney.

The Legal Information Society of Nova Scotia also has a number of information resources on how to manage your affairs and how to avoid being the victim of fraud:

Seniors and the Law: This kit provides a wide variety of information about the law that is of interest to seniors and their families. Topics include:

  • Patients' rights
  • The Public Trustee
  • Elder abuse
  • Advance Health Care Directives (including living wills)
  • Making a will
  • Internet fraud
  • Phone fraud
  • Mail fraud
  • When you need help to manage in your home
  • Collection agencies
  • Credit reporting agencies
  • Guardianship
  • Power of attorney
  • Homes for special care.

To purchase a copy ($5), contact the Legal Information Society of Nova Scotia:
Phone: (902) 454-2198
Fax: (902) 455-3105
E-mail: lisns@legalinfo.org

They also have information posted on their website on various topics of interest to seniors: wills and estates; power of attorney; advance health care directive (including living wills) public trustee; criminal law and consumer law.

The book The Law and Older Nova Scotians, developed by Canadian Pensioners Concerned—Nova Scotia, is available from the Seniors’ Secretariat at 1-800-670-0065, or 424-0065. It has lots of information on your rights and many different legal issues.
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2. How can I protect myself from economic crime?

The age of technology has changed the nature of ‘doing business’. While some of the newer practices such as internet banking and purchasing can make life easier, they can also be risky. Conducting business safely requires up to date knowledge about the range of scams and how to protect yourself from them.

Frauds and scams can be carried out through the mail, on the telephone, over the internet and email, and by door-to-door ‘salespersons’. People can lose significant amounts of money to phony sweepstakes, lotteries and charities. They can lose money through home repair scams or through identity theft. People can even be re-victimized by scams that claim they can get back lost money or property! There are many types of scams, and the approach and methods change quickly, making it essential for people to report fraud or suspicious situations. This is the only way police can track trends and alert consumers.

For tips on preventing scams, see the RCMP website.

The Better Business Bureau of the Maritimes has a list of the Top 10 Scams. Visit their website for a description of each scam. You can also call them at 422-6581 if you are suspicious of an offer, a specific business, or to make a complaint.

The Nova Scotia Seniors' Secretariat publication Programs for Seniors has some basic tips on safety and fraud prevention:

  • Never agree to send someone money so that you can win a prize.
  • Be careful about paying for products that you have not seen.
  • Don’t pay someone up front to recover money for you.
  • Don’t give in to pressure from a salesperson. If the deal is legitimate, they will wait.
  • Ask for all offers in writing as well as a call back number and references.
  • Don’t be afraid to ask questions and make sure your questions are answered. If you don’t understand the offer, do not buy anything.
  • Before investing money, get a second opinion from your spouse, a trusted family member or friend, a lawyer or your financial advisor.
  • Don’t give personal information about credit cards or bank accounts unless you initiate the call. Your bank will not ask you to provide personal information over the phone or by email.
  • Take notes of every contact you have with a salesperson—include the date and time.
  • Always take time to read the fine print.
  • If you are purchasing items online make sure the site is secure. Look for “https:” before the url of the company in the section of the website where you are giving personal information such as a credit card number (for example https://www....).

(These tips have been adapted from brochures printed by Prevention and Awareness of Crime and Theft Committee [P.A.C.T.] and Canadian Securities Administrators [CSA]).
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3. How can my group or organization get more information on economic crimes against seniors?

The following organizations can deliver presentations or provide information on issues such as consumer fraud and identity theft:

  • The ABCs of Fraud Awareness Program: (sponsored by Scotiabank) is a project of the Rotary Club of Halifax who manages the program in Nova Scotia. This program is an educational and interactive mix of presentations, role-playing demonstrations, exercises and discussions to help you recognize potential frauds and learn effective ways to protect yourself. If your organization would like to arrange a free presentation for your group, please contact the ABCs of Fraud Coordinator, Bill VanGorder, at (902) 454-2267 or e-mail bill.vangorder@ns.sympatico.ca
  • Prevention and Awareness of Crime and Theft (PACT): PACT is a partnership between agencies and organizations with an interest in preventing crime and theft. The purpose of the partnership is to reduce the incidence of fraud in Nova Scotia and the Maritimes region, while increasing consumer knowledge and confidence in legitimate commercial activity. They achieve this goal through a program of crime prevention, education and public awareness. PACT focuses on educating seniors about telefraud and thefts. It also suggests ways to report suspected fraudulent activities. PACT partners can present to your group.

    Contact any of the following PACT partners for more information on presentations on crime and theft:
    • Royal Canadian Mounted Police: Timothy Cooke - 426-4202
    • Canada’s Competition Bureau: Paul Berry, 902-426-6858
    • Better Business Bureau of the Maritime Provinces: 1-800-422-5413
    • Service Nova Scotia and Municipal Relations
    • Nova Scotia Seniors’ Secretariat: 1-800-670-0065 or 424-0065
    • Halifax Regional Police
    • ABCs of Fraud Awareness Program: Bill VanGorder - 454-2267

      For a hard copy of PACT’s information brochure, call the Seniors’ Secretariat at 1-800-670-0065 or (902) 424-0065.
  • RCMP Seniors Safety Program: This program invites you to talk to an RCMP representative in your own home, at your convenience, about your safety concerns. It is a way for seniors and the RCMP to work together to help prevent crime and keep communities safe. The program provides information on elder abuse, personal safety and well-being, household security, consumer frauds and scams, Vial of Life, vehicle/driving safety, medication safety and general information about the legal system. Coordinators also provide public presentations and educational workshops for older adults. The program is free of charge. For more information, contact:
    • RCMP “H” Division
      Cpl. Shawn Sweeney, Acting NCO i/c
      RCMP Community Policing Services
      “H” Division
      P.O. Box 2286, 3139 Oxford Street
      Halifax, NS, B3J 3E1
      Phone: (902) 426-2399
      Fax: (902) 426-1902
      Email: shawn.sweeney@rcmp-grc.gc.ca
    • Annapolis County RCMP
      Sharon Elliott, Phone: (902) 665-4481, (902) 825-2000, (902) 638-8825
      Email: sharon.elliott@rcmp-grc.gc.ca
    • Antigonish RCMP
      Kimberly Timmons, Phone: (902) 863-6500
      Email: kimberly.timmons@rcmp-grc.gc.ca
    • Digby RCMP
      Dawn Thomas, Phone: (902) 245-2579
      Email: dawn.thomas@rcmp-grc.gc.ca
    • Halifax District Detachments
      • Tantallon RCMP
        Cst. Debbie Maloney, Phone: (902) 826-3100
        Cst. Shawn Mason, Phone: (902) 826-3100
      • Lower Sackville RCMP
        Cst. Curt Wentzell, Phone: (902) 864-6000
        Cst. June Chaisson, Phone: (902) 864-6000
      • Fall River Community Policing Office
        Nancy MacDonald, Phone: (902) 860-4362, (902) 861-3011
      • Cole Harbour RCMP
        Cst. Tamu Bracken, Phone: (902) 426-8703 direct line
        Email: tamu.bracken@rcmp-grc.gc.ca
        Cst. Peter Marshall, Phone: (902) 426-8130
        Betty Nauffts, Phone: (902) 426-8139, (902) 434-8643
        Email: betty.nauffts@rcmp-grc.gc.ca
      • Musquodoboit Harbour RCMP
        Cst. Dawn Duhart, Phone: (902) 889-3300
      • Sheet Harbour RCMP
        Cpl. Sandi Merrell, Phone: (902) 885-2510
    • Kings County RCMP
      Cst. Les Kakonyi, Phone: (902) 679-5555
      Email:leslie.kakonyi@rcmp-grc.gc.ca
    • Meteghan RCMP
      Hélène Comeau, Phone: (902) 645-2326
      Program available in English and French for this coverage area.
      Email: helene.comeau@rcmp-grc.gc.ca
    • Pictou County Municipalities Crime Prevention Association
      Barbara Dewtie, Phone: (902) 396-3855
      Email: crimeprevention@eastlink.ca
    • Queens County RCMP
      Linda Wentzell, Phone: (902) 350-0231, (902) 354-3691
    Many municipal police agencies also have officers dedicated to community policing. Contact your local police department for information.
  • Legal Information Society of Nova Scotia Speakers Bureau: Clubs, church groups, teachers, community groups and special interest groups can use the service to find speakers willing to volunteer their time to speak on various legal topics The Speakers Bureau includes lawyers, judges and other professionals. To use the service call: (902) 454-2198 or email: lisns@legalinfo.org

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4. What else can be done to prevent financial abuse?

Preventing financial abuse is one of the key strategic areas of the Nova Scotia Elder Abuse Strategy: Towards Awareness and Prevention, and although complex, the Seniors’ Secretariat is committed to working with its many partners to work towards preventing the financial abuse of seniors. This will be done through education and awareness and the development of community networks.

Education will give seniors the knowledge and information they need to protect themselves, take control of their lives, better understand their experiences, and help them access services and resources that are available.

Supporting communities will go a long way to ensuring that recognition, response, and support are offered in the most appropriate way to those who experience abuse. A community response recognizes and builds on the strengths of individuals and the collective strengths of communities.

Preventing financial abuse requires many partners, including older adults, family members and friends, community networks, service providers, banks and financial institutions, police, government and the legal system.

(Some of the information below has been taken from the National Clearinghouse on Family Violence publication Financial Abuse of Older Adults.)

Older adults can help themselves by:

  • staying in touch with family, friends, and neighbours, sharing information and making sure no one becomes isolated,
  • learning about financial abuse and knowing the signs,
  • keeping track of property, bank accounts and belongings,
  • keeping money in a bank or financial institution, not at home,
  • having pension checks deposited directly into the bank, writing an agreement with a repayment plan before lending money to a relative,
  • preparing a will with a lawyer’s help, and reviewing it periodically to make sure it is up to date, and changing it only after careful thought,
  • talking to a lawyer about a power of attorney and about what will happen if the senior cannot manage alone,
  • asking a trusted friend or family member to review all papers before signing,
  • taking the time to think over offers made by telemarketers and salespeople before committing to a purchase.

Family members or friends can:

  • stay in touch with the older person,
  • learn about changes that are part of the aging process,
  • talk to an older adult about future plans in case he or she should become unable to manage finances alone,
  • talk with the older person about scams and frauds,
  • listen to the older person’s concerns.

Service providers can:

  • develop policies to spot and investigate financial abuse,
  • set up training programs for staff and volunteers,
  • make sure that older adults know about community services, and
  • develop outreach services.

Banks or financial institutions can:

  • train workers on the aging process, the signs of financial abuse, and the community services available for older adults,
  • tell older customers about good financial practices and ways to prevent financial abuse, and
  • develop ways to protect customers, such as protected accounts and voluntary third-party procedures for bank account holders.

The community can:

  • increase public awareness about financial abuse,
  • promote an interdisciplinary and community approach to respond to and prevent financial abuse,
  • get seniors groups, health and social service agencies, bank and financial institutions, and the police involved in community strategies,
  • develop advocacy programs for older people,
  • set up a telephone hotline for older adults who want to ask questions or get help on financial abuse,
  • promote a positive image of older adults.

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5. How can I get more information about financial exploitation?

Visit the main Links to Resources on Elder Abuse for links to more information on financial and other forms of abuse.