Elder financial abuse refers to the unauthorized or improper use of an elderly person’s funds, assets, or property. It can involve various forms of exploitation, such as scams, fraud, theft, or manipulation, with the intention of taking advantage of the senior’s financial resources.

Seniors are often targeted for financial abuse due to factors such as diminished cognitive abilities, isolation, and dependence on others for assistance. They may be more vulnerable to scams or may have difficulty managing their finances, making them an easy target for perpetrators.

Common signs of elder financial abuse include sudden changes in financial situations, unexplained withdrawals or transfers, missing valuables or cash, unpaid bills despite having enough funds, and the presence of new individuals claiming control over the senior’s finances.

Seniors can take several steps to safeguard themselves against financial abuse. These include staying informed about common scams and fraud tactics, being cautious when sharing personal information, regularly monitoring financial statements and accounts, having a trusted person involved in financial matters, and seeking legal advice if they suspect any form of financial abuse.

Seniors who have experienced financial abuse can seek assistance from various resources. These may include local law enforcement agencies, adult protective services, senior advocacy organizations, and legal professionals specializing in elder law. These resources can provide guidance, support, and legal remedies to help seniors recover from financial abuse.