Despite countless warnings, public awareness campaigns, and an ever-growing library of resources on how to avoid financial scams, the number of victims—particularly seniors in Canada—continues to rise.

It's a troubling paradox—we know more than ever about how scams work, yet more people are losing money to them. Clearly, our current precautions aren’t enough. So, why are these protections failing, and what can Canadians do to truly safeguard themselves and their loved ones?

The changing face of financial scams

Financial scams have evolved. Today’s fraudsters are sophisticated, organized, and relentless. They exploit human psychology, social engineering tactics, and current events to create highly convincing narratives. Whether it’s a fake Canada Revenue Agency call, a phishing email from a bank, or a grandparent scam involving a panicked “grandchild” in trouble, modern scams are designed to create urgency, fear, or excitement—causing people to act before they think.

Technology has played a major role in this evolution. Artificial intelligence now enables scammers to mimic voices, generate lifelike videos, or create convincing messages from........

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