1. RBC Fraud Education and Awareness Seniors Client Seminar

2. 2 In Today’s Seminar Why talk about fraud prevention? How does fraud happen? What does fraud look like? How can you prevent it? Schemes & Scams What we are doing for you Questions ?

3. 3 Who Is Vulnerable? Everybody!

4. 4 Why Seniors Face A Greater Risk More leisure time Isolation Financial anxiety Income and assets

5. 5 Motive, Opportunity & Means Motive = financial gain. By gaining access to your financial information, criminals may be able to access your money Handing over or sharing your day to day financial transactions with someone else Ensure that you are comfortable with someone helping you, whether it is family, friends or a caregiver Not disposing of your bills/statements correctly Not securing your mail

6. 6 Fraud Has Many Faces Cheque fraud Debit and credit card fraud Internet fraud Financial abuse Identity theft Schemes & Scams

7. 7 What Is Cheque Fraud ? An item paid against a client’s deposit account that is not authorized by the customer Using a cheque in any way with the intent of obtaining funds to which one is not entitled Anytime a cheque is negotiated without the knowledge of the account holder

8. 8 Protect Your chip and PIN Taking precautions to protect your security is always important. Choose a PIN with numbers you will remember. Make sure your PIN can’t be easily guessed by someone else. For example, don’t use your birthday, phone number or address. Memorize your PIN — don’t write it down or store it electronically. Never disclose your PIN to anyone. Change your PIN from time to time. If you think someone knows your PIN, change it as soon as possible at any RBC Royal Bank branch.

9. 9 Protecting Your Credit and Debit Cards Limit the number you carry and do not leave in an unsecured location Keep your receipts and reconcile your statement---- use on line! Notify your bank of errors both unauthorized charges and missing charges…yes even the missing! When using your card for a transaction, always keep it in your view

10. 10 The Modern Age...Or The Modem Age ! Be smart about electronic banking…it is very safe but you need to be vigilant Online banking  Never share or record your user name or password  Don’t create easily guessed passwords  Don’t use publicly accessible computers for banking  Don’t install free software: screen savers, games, etc.  Install and maintain current antivirus software, anti-spyware and have a personal firewall Telephone banking  Never divulge you user name or Secret Access Code  Use a secure location where you cannot be overheard

11. 11 Financial Abuse Financial abuse is the misuse of a person’s money or property, usually by a person in a position of trust

12. 12 Identity Theft Keep all personal information safe and secure. Shred any financial records….even the pre-approved credit cards, car rental receipts, etc. Protect your mail Pick up mail promptly Lock your mail box or use a mail slot Have your mail box visible Don’t leave out going mail in your mail box Send cheques via registered mail or use an electronic payment Do not respond to unsolicited offers via the mail, internet or phone Do not share your SIN and do not carry the card

13. 13 Schemes & Scams Skimming Bait & Switch Fake Charities Card Switching Telemarketing Schemes “Too Good to be True” Advance Fee Scams Email Fraud - Phishing

14. 14 POWER OF ATTORNEY 3 MAIN TYPES BANK’S POA STANDARD FORMS FREE GOVERNMENT APPROVED POA KITS LAWYER’S POA

15. 15 BANK’S POA STANDARD FORMS For those individuals who do not, or cannot afford a lawyer, and do not have a complex portfolio of assets/investments. ( example Real Estate and/or RRSP’s ) Documents are signed and witnessed in branch and allows the designated Power of Attorney to handle day to day banking transactions. ( example Bill Payments, Deposits, Withdrawals) ** RISK ASSOCIATED ** Client being coaxed in adding POA. Bank staff have to exercise due diligence in completing request, looking for signs of hesitation by the person giving the POA.

16. 16 Free Government Approved POA Kits Created by lawyers in the Government to help disadvantaged clients who cannot afford a lawyer. **** Risk Associated**** Language used by inexperienced individuals may be to vague for complex situations. **** Risk Associated**** Without a proper witness, one cannot be sure that the POA was given in good faith and without coercion.

17. 17 Lawyers' POA Created by the clients lawyer and normally cannot be challenged by anyone because the clients got proper independent legal advice. ( lawyer makes sure the client was mentally capable and they understood the risk involved. Most lawyers are glad to visit a clients residence to facilitate a meeting.

18. 18 Reasons Seniors Should Not Make Accounts Joint Vs POA If the adult child/attorney is made joint on the account and has a car accident or is sued for any other reason, the money in the joint account ( usually the seniors life savings) can be at risk for garnishment /seizure by the judgement creditor. Almost 50% of marriages end in divorce. The adult child/attorney who was made joint on the account with their elderly relative gets divorced, the money in the joint account is a t risk of being deemed the adult child’s marital assets and split with the former spouse.

19. 19 Reasons Seniors Should Not Make Accounts Joint Vs POA When someone is made joint on an account and our client passes away, the other person gets “right of survivorship” meaning the joint account holder will receive all the money in the account and anyone else expecting an inheritance does not. Funds in a joint account can be withdrawn by any account holder, allowing the person who was added the same access as the person (senior) who actually “owns” the funds.

20. 20 Questions