89-Year-Old Loses $1.7M to Scammers via RBC and CIBC

Ray Anholt, a 90-year-old from Victoria, lost nearly $1.7 million to a sophisticated bank investigator scam, which involved fake bank employees and government letters, while two major banks failed to protect him despite clear red flags. His daughter criticized CIBC and RBC for allowing him to withdraw large sums without intervention, highlighting a systemic issue in protecting seniors from financial fraud in Canada.

Want More Context? 🔎