Seniors now make up almost 20 percent of New Brunswick’s population and that older demographic often falls victim to financial abuse.
The Financial and Consumer Services Commission is launching consultations across the province to try and find solutions.
CEO Rick Hancox says the Baby Boomers are retiring and many have been saving money during their lifetimes.
Hancox believes there’s a perception that demographic is wealthy which often makes them a target.
He says Baby Boomers were taught to be polite and to listen which can also make them vulnerable to telephone preying or email fraud.
Hancox adds financial abuse is often not reported which makes it difficult to know how big of a problem it really is.
More details on providing feedback by email or in person at upcoming consultation sessions can be found HERE