The Canadian Association of Retired Persons (CARP) is Canada’s largest advocacy association for older Canadians promoting equitable access to health care, financial security, and freedom from ageism.
There are many local chapters established throughout the country working on issues directly impacting their members. A good example is in Winnipeg where CARP chapter president Carmen Nedohin is proud to state this year that they along with other senior advocacy groups have been successful in getting the provincial government to introduce a bill in the Manitoba Legislature to set up an independent Seniors Advocate.
The focus on this WordPress site is on financial fraud so it is important to link you to three solid advocacy pieces entitled Frauds and Scams, Banking Ombudsman and Investor Protection. They are succinct and well done. Please note with respect to the Banking Ombudsman one, progress has been made this year, with the federal government declaring the Ombudsman for Banking Services and Investments (OBSI) will be the only single ombudsman service available at a national level to file a complaint commencing in November 2024. The next step is obtaining binding arbitration.
It should be noted that CARP is also seeking a higher compensation amount of $500,000 since some of the losses can be substantial for victims of fraud when it comes to being defrauded of their life nest egg.
With respect to Frauds and Scams, it is readily apparent Canada and its provincial and territorial governments have much more work to do to protect seniors and Canadians in general from being defrauded. The extent of the problem is alarming and devastating to thousands of victims. The majority of the scams do not even get reported to the Canadian Anti-Fraud Centre. Current information and prevention tips can be found at this linked site.
