Warning Signs

Experts say elder financial abuse will be the "Crime of the 21st Century" as the growing senior population becomes a target. Regrettably, many seniors are victimized by their own relatives or caregivers—people they generally trust. Elder Financial Protection Network has found that financial exploitation takes many forms. Warning signs include:

Obtaining Unauthorized Access to an Elder's Social Security Checks, Pension Payments, Checking or Savings Account, Credit Card or ATM; Identity Theft
Charging an Elder Excessive Rent or Unreasonable Fees for Basic Care (E.G., Transportation, Food, or Medicine)
Scams (E.G., Bogus Sweepstakes, Lotteries) That Use Deception, Scare Tactics, or Exaggerated Claims to Get Money from Elders
"Conning" by Con Artists Who Make Their Living Preying on Others & "Befriend" Elders
Calls from Telemarketers Selling Worthless, Over Priced, or Nonexistent Products
Unfair or Misleading Home Equity Agreements That Cause Elders to Lose Their Homes

Unscrupulous Home Repair Contractors
Inappropriate Financial Products & Services
Fraudulent Lifelong Care Offers in Exchange for Money or Property
Use an Elder's Property or Possessions without Permission
Forging an Elder's Signature
Coercing an Elder to Sign a Deed, Will, or Power of Attorney
Pressuring an Elder to Give a "Gift"
Claiming to Have Found Money & Offering to Split It with an Elder If He or She First Pays Some Amount as a Sign of Good Faith
Convincing an Elder His or Her Child Has Been Injured or Is in Jail & Needs Money
Withholding Portions of Checks Cashed for an Elder