Seniors and Fraud

• Seniors are particularly vulnerable targets of scam artists and fraudsters. They tend to have more savings, assets, and disposable income compared with the general population. However, they have less time and fewer resources to recover their losses.

How IIROC can help

• IIROC has a number of resources to assist seniors in making informed and suitable investment decisions. We offer several brochures that address the types of information your advisor is required to request from clients, how to make a complaint about your advisor or investment dealer and how IIROC regulation bolsters investor protection. The Investors section of the IIROC website explains options on how to get your money back. Seniors can also use IIROC’s AdvisorReport service to review the services their advisors are registered to provide, as well as check their educational and disciplinary records.

More Resources from the Canadian Securities Administrators and provincial securities commissions

• Scam artists pursue people over 50
• Protect your money: Avoiding frauds and scams
• Who to contact for assistance
• Fraud Awareness quiz
• Seniors and people with disabilities (BCSC)
• The Alberta Securities Commission (ASC) has produced a series of videos on protecting yourself from investment frauds and scams, several of which involve seniors and retirement. Visit their YouTube page to watch the videos.