Signs of Elder Financial Exploitation

— Written By Shae King
en Español

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Financial exploitation is defined as the dishonest or otherwise fraudulent, unauthorized, or unethical acts of a caregiver, fiduciary, and or entity in which the resources of an older person are exploited for personal advantage or gain by another; or actions that result in the deprivation of benefits, resources, belongings, or properties to which an older person is entitled. Elder financial exploitation is described the theft of money, property or personal belongings.

To protect yourself and your loved ones, here are the signs and examples to look for in elder financial exploitation.

  • Uncomfortable spending money on needs and wants
  • Being isolated from friends and family
  • Uncomfortable speaking with friends and family
  • Charity Scams
  • Abrupt changes in a will or other financial documents
  • Unexplained disappearance of funds or valuable possessions
  • Grandparent Scams
  • Sudden appearance of previously uninvolved relatives claiming their rights to an older adult’s property or possessions
  • Exploitation by an agent under a power of attorney (POA) or person in another type of fiduciary relationship.
  • Identity Theft
  • Computer and Internet Scams

Source:    Alabama Cooperative Extension System