WARNING: Scams Targeting Seniors
There are a variety of scams and frauds happening across Canada – with new ones invented daily. ACE has seen an explosion of schemes targeting low-income, vulnerable seniors across Ontario.
Some of the most notable schemes include:
Financeit and VaultPay Loans Class Action
Fighting Back Against Predatory Home Loan Scams
The Advocacy Centre for the Elderly (ACE) is proud to be working with Sotos Class Actions to commence class action lawsuits on behalf of vulnerable homeowners—including many seniors—who allege they were misled into taking out predatory loans through Financeit Canada Inc. and VaultPay, often through door-to-door home services dealers such as Provincial Smart Home Services and JBR Contracting.
Crown Crest Leasing and Peoples Trust Company Class Action Settlement
This class action alleges that Crown Crest Leasing Ltd., Peoples Trust Company, and affiliated companies and individuals engaged in unlawful practices relating to HVAC lease agreements. The case centers on the registration of security interests (liens) on homeowners’ properties without proper disclosure—allegedly in violation of consumer protection laws.
Protect Yourself from Scams Exploiting Government Rebates
Scammers are targeting home-owning seniors with false promises related to Ontario’s new energy efficiency rebate programs. Learn how to identify legitimate offers, avoid
common fraud tactics, and protect yourself and your loved ones. Stay informed—don’t fall victim to these deceptive schemes!
Cross-Ontario Mortgage & Notice Of Security Interest (NOSI) Scheme
Since January 2022, ACE has regularly received calls from older adults who are shocked to discover that a mortgage or lien (called a “notice of security interest” or “NOSI”) has been registered to the title to their home without their knowledge or consent. The scheme targets highly vulnerable home-owning seniors and often starts with exploitative, unfair door-to-door sales contracts financed by high-interest loans that are secured with NOSIs or private mortgages.
Bill 200 Bans and Erases NOSIs Effective Immediately
On June 5, 2024, the Ontario legislature passed Bill 200, the Homeowner Protection Act, 2024 which deems NOSIs in respect of consumer goods to be expired effective immediately, and bans the registration of new NOSIs in respect of consumer goods, with unanimous consent.
Grandparent Scheme
Grandparent scams (also called grandchild scams and/or emergency scams) are common schemes that target older adults. These scams usually involve a phone call or email from someone who pretends to be your grandchild or other loved one. A new variant to the scam has recently emerged, in which the fraudsters contact the grandparent via their social media accounts (i.e. Facebook or Instagram) or by text message instead of a phone call.