Elder Abuse

How does it work?

Elder abuse is an intentional or negligent act by a person that causes harm or a serious risk of harm to an older adult. Financial Exploitation is included in this definition.

Common Tactics

(1) Elderly may be tricked into signing documents giving others permission to their finances or other assets.
(2) Relative uses elderly’s credit cards for personal benefit and without permission of the elderly.
(3) Caretaker using elderly’s personal funds for own benefit. Caretaker portrays the funds are being used for the elderly’s expenses.

Where’s the Fraud?

Funds are being taken, potentially unknowingly, from the elderly. Elderly are being taken advantage of.

Red Flags

(1) Unaccounted for expenses on bank statement.

(2) Other individuals speaking on behalf of elderly.

(3) Cash withdrawals occurring when elderly does not normally withdrawal cash.

(4) Changes in will or other financial documents.

Next Steps

(1) Talk to a trusted family member/adult to gain control of finances, assets, etc.

(2) Talk to local law enforcement

(3) Talk to your financial institution