Banking

A number of tactics are used by criminals to steal money from vulnerable Seniors and other gullible persons. These include investment scams, purse/wallet snatching, robbing mail boxes, breaking and entering and impersonating financial officers.

Preventative Tips

DIRECT DEPOSIT:

Consider having payments you receive on a regular basis, such as pensions cheques and dividends deposited directly to your account. Not only is this more convenient, as you do not have to make a special trip to the bank, your money starts earning interest immediately. Many criminals, including con artists, are aware that seniors receive their pension cheques at the end of the month and direct deposits are a good crime prevention technique.

SAFETY DEPOSIT BOXES:

Consider storing stocks, bonds, jewelry and other valuables in a safety deposit box. Not only will your valuables be safer but they will also be together in one convenient location so you will always know their exact whereabouts.

MONTHLY BILLS:

Pay monthly bills such as telephone and hydro at a financial institution or by telephone banking.

CHEQUES AND MONEY ORDERS:

Do not carry large amount of cash; if you need to carry large amounts, consider using bank drafts, money orders or cheques.

TRAVELERS CHEQUES:

Use travelers cheques when vacationing. They are usually easily negotiable at hotels, restaurants, and financial institutions and can be replaced within 24 hours if they are lost or stolen.

CREDIT CARDS:

Always sign a new credit card when you receive it. Always destroy old cards. Never provide anyone the credit card number unless you initiate the transaction, i.e., a telephone purchase.