e-6663 Consumer protection
Petition to the Government of Canada
Whereas:
There have been alarming reports of an increase in bank-related fraud targeting senior citizens in particular, in which seniors are duped into making large withdrawals from bank accounts and giving the money to criminals;
In 2024, the Canadian Anti-Fraud Centre processed 51,616 fraud reports from 36,199 victims defrauded of more than 648 million dollars; and
Canadian financial institutions apparently do little to stem this tide of illegal activity.
We, the undersigned, citizens and permanent residents of Canada, call upon the Government of Canada to:
1. Enact changes to banking regulations requiring financial institutions to be more diligent in questioning substantial cash withdrawals, especially those by senior citizens with no pattern of such withdrawals; and
2. Require financial institutions to train all employees who deal with the public to be aware of the signs of fraud aimed at seniors and to deal with them appropriately.
Whereas:
There have been alarming reports of an increase in bank-related fraud targeting senior citizens in particular, in which seniors are duped into making large withdrawals from bank accounts and giving the money to criminals;
In 2024, the Canadian Anti-Fraud Centre processed 51,616 fraud reports from 36,199 victims defrauded of more than 648 million dollars; and
Canadian financial institutions apparently do little to stem this tide of illegal activity.
We, the undersigned, citizens and permanent residents of Canada, call upon the Government of Canada to:
1. Enact changes to banking regulations requiring financial institutions to be more diligent in questioning substantial cash withdrawals, especially those by senior citizens with no pattern of such withdrawals; and
2. Require financial institutions to train all employees who deal with the public to be aware of the signs of fraud aimed at seniors and to deal with them appropriately.