Financial Exploitation
– the illegal taking, misuse, or concealment of funds, property, or assets of a senior for the benefit of someone else.
Signs of Financial Exploitation
- Altered wills or trusts
- Gifts given
- Checks expected but not received
- Changes in banking practices, e.g., unusual withdrawals
- Sudden need to borrow money
- Bills unpaid despite the availability of funds (utility cut-off notice)
- “Lost” or “misplaced” checkbook or credit-debit card
- New or revised power of attorney
- Unexplained disappearance of funds or personal possessions
- Discovery of an elder’s signature being forged for financial transactions
- Inclusion of additional name or names on an elder’s bank signature card
- An elder discloses a suspicion that someone is taking their money or possessions