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Improving Practice through Digital Technologies

AI and Elder Financial Abuse: What we need to know to combat this rising trend

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Paper presentation
Presenter(s):

Laura Tamblyn Watts, CanAge: Canada’s National Seniors’ Advocacy Organization, Canada

Abstract

The rapid advancement of artificial intelligence has significantly amplified the scope and
impact of cybercrime, particularly against older adults. AI-driven scams, such as deepfakes,
voice cloning, and automated phishing attacks, are increasingly being used to exploit this
vulnerable demographic, resulting in overwhelming financial burdens and diminished quality of
life. In the United States, for example, AI-related fraud is a significant contributor to the
estimated $28.3 billion of losses experienced by older adults annually due to financial
exploitation (Gunther, 2023, p.1). Similarly, in Canada, reported fraud cases surged from 79,000
in 2012 to 150,000 in 2022, with AI-driven scams becoming a major contributor to this rise
(Competition Bureau Canada, 2024). This study investigates the effectiveness of efforts by G20
nations to combat AI-related scams targeting older adults, with a particular focus on Canada.
Using a mixed-methods approach, this research combines primary data from governmental
hearings, national legislation, and cybersecurity agencies with secondary data from academic
literature and policy and private sector reports to assess national responses, including digital
literacy programs, public awareness campaigns, and legislative measures. A comparative
framework is employed to evaluate these strategies, identifying strengths and weaknesses in
current protective measures. The findings reveal significant gaps in the global response to
AI-driven cybercrime, particularly in the development of personalized countermeasures and
public education. The study also suggests that while Canada has made strides in combating
digital fraud, it lags behind some G20 nations in terms of comprehensive regulatory frameworks.
The report concludes with recommendations to strengthen Canada’s response, such as expanding
digital literacy initiatives and developing more robust legislation to better protect older adults
from AI-powered scams.
Bio(s):

Laura Tamblyn Watts is the CEO of CanAge, Canada’s National Seniors’ Advocacy Organization. She is a lawyer, seniors’ advocate, professor, media commentator and Bestselling Author. A global expert on aging, she has been a contributor to the development of a UN Convention on the Rights of Older Persons and has presented to the UN and WHO amongst other global institutions. She has provided testimony and expertise to governments in Canada and internationally. Laura is the recipient of a number of national and global awards for her work, including the Global Citizenship Award which is Queen’s University’s highest Humanitarian Awards. She is affiliated faculty at a number of global universities and was called to the BC Bar in 1999. She holds numerous Board appointments and is a technical contributor to developing national standards for long-term care and home care. Laura is also an Assistant Professor (status) at the Factor Inwentash Faculty of Social Work at the University of Toronto.

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