While there are many upsides to the idea of robotic companions for the elderly, there are quite a few downsides as well. During our research of this topic we encountered a multitude of risks that could arise, which involve the health and well-being of elderly people and how robotic companions could affect them negatively. Many studies showed the different ways this could happen, including ethical issues, deception and privacy loss, and shed some light on multiple unfavourable outcomes regarding a piece of technology which is supposed to be built to aid and help those in need.