Financial exploitation of the elderly refers to the illegal or improper use of an elderly person’s funds, property, or assets for someone else’s benefit. This can include scams, theft, fraud, or misuse of power of attorney.

Financial exploitation of the elderly is unfortunately a common problem. It is estimated that billions of dollars are lost each year due to financial abuse of older adults.

Some signs of financial exploitation of the elderly include sudden changes in financial situation, unexplained withdrawals or transfers of funds, missing belongings or valuables, and changes in wills or other legal documents without the elderly person’s knowledge.

To protect the rights and assets of the elderly, it is important to stay informed and educated about financial exploitation, to establish a strong support network for the elderly person, to monitor their financial accounts and transactions regularly, and to report any suspected abuse to the appropriate authorities.