Can a bank freeze an elderly customer's account if it suspects a family member is financially abusing them?

Yes, in practice, Ontario banks and other financial institutions can and do restrict or place holds on transactions where they have genuine concerns about financial abuse or exploitation of an older or vulnerable customer, particularly where activity on the account looks unusual, out of character, or inconsistent with instructions the institution can verify came from the account holder. This is generally done under the institution's own internal policies and regulatory guidance around protecting vulnerable customers, rather than a court order compelling them to act.

A bank's ability to act this way isn't unlimited, though — it needs to balance protecting a vulnerable customer against that person's own right to control their own money, especially if the account holder is still capable and simply making choices others disagree with. Freezing an account is usually a short-term, protective step while the institution seeks more information, rather than a permanent solution, and it doesn't replace formal legal tools like a power of attorney review, a capacity assessment, or a guardianship application where longer-term protection is genuinely needed. If you suspect financial abuse, raise it with the institution directly and get legal advice on the more durable options available.