The Globe and Mail published an article over the weekend detailing a new initiative by the federal banking ombudsman to better track cases where people with dementia are being taken advantage of, particularly with regard to their bank accounts. The Ombudsman for Banking Services and Investments (OBSI) wants to create a national registry to track cases where fraud may be a factor in cases where the account holder has diminished capacity.
There is a specific offence in the Canadian Criminal Code for theft involving a power of attorney. As the Globe article notes, over half a million Canadians suffer from dementia; with our aging population, this number is bound to grow. Initiatives such as the one by the OBSI will hopefully help to curb the improper use of powers of attorney by people who are using them for their own benefit, rather than for the benefit of the incapable person.
