Financial Abuse Prevention & Protection

Protecting Yourself Against Financial Abuse

Financial abuse is when someone tries to take or control your money or property for their own benefit, not yours. 

While financial abuse can happen to anyone, older Canadians are at greater risk as they may find it harder to protect themselves from demands for money or other forms of financial abuse. Financial abuse is the most common form of elder abuse in Canada.

It can be difficult to recognize financial abuse especially as it can happen over a period of time. A warning sign may be when a friend, family member, or caregiver takes an undue interest or involvement in your financial matters. 

  • Pressures you to make changes to your will, Power of Attorney, or other legal documents
  • Takes your money or possessions without your knowledge or approval
  • Fails to repay loans you’ve made to them
  • Forces or tricks you into giving away money, property, or possessions
  • Asks you to sign legal or financial documents that you don’t understand 

Further information

More information about financial abuse and how to best protect yourself against it can be found here:

Government of Canada website

Canadian Bankers Association website