Have you ever been hit by fraudsters?
It's no secret that senior citizens are often the targets of fraud and financial crimes.
Among the reasons: Some older people have built substantial assets (including their own home/cottage and large savings accounts), they're easy to find at home, and they can often be swayed by fears of losing their financial independence.
Estimates from MetLife's Mature Market Institute suggest that this group loses approximately $2.6 billion per year due to financial abuse -- fraud, as well as theft by family members and acquaintances.
But it seems that seniors aren't the only group getting fleeced.
With a generally low level of investment knowledge, Canadians of all ages remain popular targets for fraudsters, according to the The Canadian Securities Administrators (CSA) which just released the third edition of its survey of investment knowledge, investor behaviour and incidence of investment fraud.
Almost 30% of Canadians believe they've been approached with an investment fraud at some point in their life, more often than not through email.
Yet, just 29% of those potential fraud victims said they reported the most recent occurrence to the authorities –- police or the RCMP being the most popular when asked to indicate where they would go to report.
What’s worse though, “don’t know where to report” had the next largest proportion of respondents.
Are you among that 30%? Were you scammed? Did you report it? Any redress?
By Gordon Powers, MSN Money