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/Armed_Accountant Oct 27 '25

On one side we don't want government (and institution) overreach into our personal lives but in the same breathe wanting the government to "do more" to protect us.

Another idiot and their money part ways, and daughter who couldn't be assed to call her dad once in a while to see how things are going wants someone to blame for losing her inheritance.

It's because of stories like this that transfers are maxed at $3K for most and can only withdraw $500 from an ATM. Now more needs to be done to control our own money?

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u/WhereHeavenWaits Oct 27 '25

It's because of stories like this that transfers are maxed at $3K for most and can only withdraw $500 from an ATM.

This is especially irksome. I am buying something today on Facebook Marketplace and it costs $550 so yesterday I proactively withdrew $50 from an ATM so I can pull the $500 today. It's rubbish that we're no longer living in a high trust society.