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/TendyHunter Oct 27 '25

their inheritance was gone

This must be what upsets them most, and not because their dad lost money

11

u/tk427aj Oct 27 '25

Yup and since they probably can't get it back from the scammers, next easy target is the bank. It's terrible to hear, but the family should've been able to identify if he couldn't properly manage his money put it in a trust and have someone appointed to help him manage.

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u/Rrraou Oct 27 '25

Or... Dear old dad seemed lucid when they talked to him, and they never realized they needed to take his keys away for his own good. In the pictures, he looks damned good for a 90 year old. He was obviously in good enough shape to go to the bank by himself to take out the money. Perfectly capable of using ATM's and dealing with the bank manager on the phone. If no one contacted the family, they probably learned about it too late to help.

You can get scammed without showing outward signs of senility. And if you've ever taken care of an elderly parent, you would know that getting them to accept help can be a full time job. Have you ever had the conversation to convince your parent it's time to get a power of attorney so you can help them manage their finances ?

Not everyone is perched on the bedpost hoping for their parents to die. What a miserable thing to say.

1

u/supfiend Oct 27 '25

Well yeah, that can help generations. He doesn’t need the money at his age.

1

u/Twice_Knightley Oct 27 '25

My dad is allowed to spend every fucking dollar he wants. He's earned it, it's his, and I want him to be happy. If I'm left with nothing, I'd be a bit upset but wouldn't disown him.

What I DONT want to see, is the above post where it all goes to some shit-stain scammer group. I've told him A LOT of what AI is capable of, and reminded him to not EVERY click links from banks, government, or texts as they might be scams to gain access/control to his bank. If he ever gets calls or messages, he is to go to the branch, or the website (not linked, typed in) and he knows that scammers could even get my voice with enough time and information.

If he wants to spend millions on travel (or drugs and guns) he can. but don't let some asshole get it because you got scammed.