Financial abuse has been called ‘The crime of the 21st century’ and elder financial abuse in particular is becoming increasingly prevalent. In this episode, our guests are Raeann Rideout, Director of Strategic Partnerships for Elder Abuse Prevention Ontario, and Nicole Daley, Senior Investigator for Central Canada at Scotiabank Corporate Security Investigation Services. They'll explain how elder financial abuse happens, how to spot it, what to do if you’re a victim or suspect someone is and more.
For more resources and information please visit Elder Abuse Prevention Ontario or Scotiabank's Cybersecurity and fraud hub.
For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures
Key moments this episode:
1:40 – Starting with the basics: what is elder financial abuse?
2:41 – A few stats to give a sense of the scale of the issue
4:16 – How does this type of abuse typically start?
4:55 – Who are the typical perpetrators of elder financial abuse?
7:33 – How to spot elder financial abuse
8:33 – Misconceptions around this issue
9:30 – How power of attorney, or POA, factors into elder financial abuse
10:56 – How seniors can balance the benefits of a POA for property while still protecting themselves
12:15 – What should someone do if they are a victim or suspect someone is a victim of elder financial abuse?
14:16 – What Scotiabank is doing to prevent financial abuse of seniors
15:15 – Final takeaways from the discussion
