Canadian Bankers Association enhances its Fraud Prevention Toolkit for Older Adults with guidance on AI-driven scams and scam reporting

The Canadian Bankers Association (CBA) has updated and expanded its Fraud Prevention Toolkit for Older Adults as part of Seniors Month, aiming to help older Canadians better identify and respond to financial scams, fraud and financial abuse. The revised materials focus on practical prevention steps and encourage prompt reporting of suspected fraud. Updates include new guidance, developed with Get Cyber Safe, on spotting AI-enabled impersonation and other increasingly convincing scam techniques, alongside advice on protecting personal information to reduce risks such as financial loss and identity theft. The toolkit also adds a step-by-step reporting guide, highlighting the role of local police investigations and information-sharing via the Canadian Anti-Fraud Centre, and flags common scam channels including text messages, phishing emails, phone scams and fraudulent websites. In addition, the CBA is promoting resources on financial abuse ahead of World Elder Abuse Awareness Day on June 15, including tip sheets on powers of attorney and joint accounts, and reiterates that member banks support the Code of Conduct for the Delivery of Banking Services to Seniors, including staff training to help seniors avoid abuse, fraud and scams. Separately, the CBA continues to offer “Your Money Seniors”, a free, non-commercial seminar program delivered in partnership with the Financial Consumer Agency of Canada, which senior groups can request to cover topics such as scam awareness, joint account risks and retirement preparation.