Helpful Information about Preventing Financial Abuse

As an organization interested in helping seniors, you may find useful the information that the Canadian Bankers Association is offering related to preventing financial abuse of seniors.

CBA Website Information: Protecting Yourself from Financial Abuse

The banks recognize that Powers of Attorney and joint deposit accounts have a valuable role to play in assisting seniors who cannot do their own banking, but that in the wrong hands they can facilitate financial abuse.  The CBA has recently posted information online to help Canadians protect themselves from financial abuse when using Powers of Attorney and joint deposit accounts.

The website information is designed to give consumers information about using Powers of Attorney – choosing an appropriate attorney and what banks require when clients and their attorneys provide and use a Power of Attorney. It also sets out some cautions about using joint deposit accounts.

We encourage you to download the information and make it available to anyone that you feel might find it useful.

Coming Soon – Your Money Seniors Seminars

In the fall we will be launching a new financial literacy seminar for seniors – Your Money Seniors – that will be presented by volunteer bankers in the community to interested seniors groups and other community organizations.  The non-commercial seminar will cover issues such as budgeting, cash management, financial abuse, fraud and scams targeting seniors, a financial checklist and other sources of financial information.

If you would be interested in hosting a Your Money Seniors workshop, you can register here to be contacted when the seminars begin.