Educational Disclaimer: Maple Wealth Guide provides general financial education only. We do not offer financial, investment, tax, or legal advice. Nothing on this website should be considered a recommendation. Always consult a licensed professional for personalized guidance.
Why Seniors Are Targeted
Fraudsters target seniors because they often have significant savings, may be more trusting, and sometimes have fewer people to consult before making decisions. But with awareness and simple precautions, you can significantly reduce your risk.
Protecting Your Personal Information
Guard Your SIN
Your Social Insurance Number is the key to your identity. Never share it unless absolutely necessary (banks, employers, government). Legitimate organizations rarely need it.
Secure Your Documents
- Shred financial documents before discarding
- Store important papers in a secure location
- Collect mail promptly
- Review credit reports annually for unauthorized accounts
Online Safety
- Use strong, unique passwords for each account
- Enable two-factor authentication where available
- Be cautious of public WiFi for financial transactions
- Keep your computer and phone software updated
Recognizing Scam Attempts
⚠️ Important: If someone creates urgency, asks for unusual payment methods (gift cards, cryptocurrency, wire transfers), or asks you to keep it secret—it's almost certainly a scam.
Common Red Flags
- Unsolicited calls about investments or prizes
- Pressure to act immediately
- Requests to pay in unusual ways
- Claims from 'government agencies' demanding money
- Romance scams asking for financial help
- Tech support calls you didn't request
Safe Financial Practices
- Never give financial info to someone who calls you—hang up and call back using official numbers
- Wait 24 hours before any major financial decision
- Discuss significant financial moves with a trusted family member or advisor
- Be skeptical of guaranteed returns or risk-free investments
- Use credit cards (not debit) for better fraud protection
What to Do If You Suspect Fraud
- Stop all communication with the suspected scammer
- Contact your bank immediately if money was sent
- Report to the Canadian Anti-Fraud Centre: 1-888-495-8501
- File a report with local police
- Don't be embarrassed—reporting helps prevent future victims
Building a Support System
Have a trusted person you can call before making any significant financial decision. This simple step prevents most fraud losses. Legitimate opportunities can wait for you to consult someone.
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About Maple Wealth Guide
Maple Wealth Guide is an educational publication that explains investment concepts, retirement-related topics, and personal finance information for Canadians aged 50 and over. We are not licensed financial advisors and do not provide personalized recommendations. All content is for educational purposes only.
Non-Affiliation Statement: Maple Wealth Guide is not affiliated with any banks, brokerages, investment platforms, or government agencies.