Financial exploitation of older adults is a type of elder abuse that involves the illegal or improper use of an older person’s funds, property, or assets. This can include theft, fraud, scams, and other forms of financial abuse.

Older adults, especially those who are socially isolated or have cognitive impairments, are at higher risk of financial exploitation. Additionally, those who have significant assets or are dependent on others for financial management may also be at risk.

Some signs of financial exploitation include sudden changes in bank account balances, unexplained withdrawals or transfers of funds, changes in wills or trusts, and unauthorized use of credit cards or ATM cards. Other signs may include unpaid bills, missing property, or sudden changes in behavior or mood.

There are several steps you can take to prevent financial exploitation of an older adult. These include staying involved in their lives and keeping lines of communication open, reviewing financial statements and account balances regularly, being wary of unsolicited offers or requests for money, and seeking legal or financial advice if necessary.

If you suspect financial exploitation of an older adult, it is important to report it immediately. Contact your local Adult Protective Services agency or law enforcement, or call the National Elder Abuse Hotline at 1-800-677-1116 to make a report.