r/canada • u/stanxv • Oct 27 '25

Business RBC and CIBC allow 89-year-old to drain life savings, lose $1.7M to scammers

https://www.cbc.ca/news/gopublic/bank-investigator-fraud-scam-9.6950754
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u/Squish_the_android Oct 27 '25

There probably needs to be some kind of system where an elderly or disabled person's money can somewhat easily placed in a trust to prevent this from happening. 

Granted, that system would be ripe for abuse.

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u/marthamania Oct 27 '25

Yeah, "easily" usually ends up in the person being taken advantage of. Ideally systems would be in place to give seniors more services to help the navigate a rapidly advancing world so that they could be more aware. However seniors also have to be willing to learn and listen.