| Financial abuse and material exploitation of the elderly | | | | be taken as decisive proof. However, a pattern of |
| may not cause physical injuries or leave scars, but | | | | multiple warning signs may suggest that a problem is |
| they can have devastating effects and ruin the lives | | | | present. |
| of victims. An elder’s entire life savings can | | | | The following are warning signs of financial elder |
| disappear, leaving the victim unable to provide for his | | | | abuse: |
| or her own needs and causing harmful stress and | | | | - Unusual bank account activity, such as ATM |
| agitation. | | | | withdrawals at a bank the elder cannot travel to |
| Financial elder abuse and material exploitation occur | | | | - Signatures on checks and documents that do not |
| when an abuser uses an elder’s money or assets | | | | match the elder’s signature |
| in a manner contrary to elder’s wishes, needs, or | | | | - Checks or documents signed despite the fact elder |
| best interests, or for the abuser’s personal gain. | | | | cannot write or understand what he/she is signing |
| Oftentimes, elderly victims are exploited because of | | | | - Unexplained change in spending patterns or unusual |
| vulnerabilities associated with advanced age, such as | | | | out of character purchases |
| impaired mental capacity. Abusers can be caregivers | | | | - Unusual medical charges or nursing home charges |
| in nursing homes or assisted living facilities, | | | | - Generous gifts to a person the elder has only met |
| professionals hired by the elder (such as | | | | recently |
| accountants), strangers, or family members. | | | | - Change in lawyer or bank for unknown reason |
| Financial elder abuse can take many forms. The | | | | - Change in who has power of attorney for unknown |
| abuser may steal money or items from the | | | | reason |
| elder’s bank account or home, sell or transfer | | | | - Stranger who initiates close relationship with elder |
| property against the elder’s wishes, use the | | | | and offers to manage finances and assets |
| elder’s credit cards for unauthorized purchases, | | | | Factors which make elders susceptible to financial |
| use the elder’s name to open new credit | | | | abuse include isolation, loneliness, physical and/or |
| accounts, and create or alter a living trust or will for | | | | mental disabilities, and lack of familiarity with financial |
| the abuser’s benefit. Financial elder abuse also | | | | issues. Elder financial exploitation often goes |
| can take the form of telemarketing fraud, identity | | | | unreported. The senior may be unaware that |
| theft, predatory lending, home improvement scams, | | | | exploitation is taking place or remain silent due to |
| and estate planning scams. | | | | intimidation by the abuser. The elder victim may also |
| Unexplained behavioral changes, such as sudden | | | | be embarrassed about the situation or worried that |
| secrecy or reluctance to speak freely, may be | | | | making accusations will cause him or her to be labeled |
| warning signs of financial elder abuse. If an elder | | | | senile or too demanding. |
| appears withdrawn, helpless, frightened, or angry, this | | | | Reporting financial elder abuse can save the assets, |
| may also indicate that abuse is taking place. Some of | | | | dignity, and health of an elder. If you suspect abuse, |
| the warning signs of financial elder abuse can be | | | | it is better to err on the side of caution in order to |
| explained by other causes, and no single indicator can | | | | protect an senior from victimization. |