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Understanding Elder Financial Abuse
Elder financial abuse involves the illegal or improper use of an older adult's funds, property, or assets. It can be perpetrated by family members, caregivers, strangers, or even trusted professionals. Warning signs include sudden changes in financial behavior, unexplained withdrawals, missing belongings, or isolation from friends and family.
Recognize the Signs of Financial Abuse
New Friendships - Online or In Person
Bad actors often build trust before exploiting it. Be cautious of new friends-whether online or in person-who recommend investments in things like stocks, cryptocurrency, or real estate. Be especially wary of anyone attempting to access financial information, particularly newer friends, aides, or companions.
Unusual Financial Activity
Red flags include:- Unpaid bills despite adequate resources
- Missing checkbooks or financial documents
- Suspicious signatures
- Missing valuables
- Unexpected, authorized users added to financial accounts
- Unexplained sudden transfer of assets to a family member or someone outside the family
- Unexplained disappearance of funds or valuable possessions
- Sudden changes in bank accounts or banking practices, including an unexplained withdrawal of large sums of money by a person accompanying the older adult
Changes in Ownership and Responsibility
Sudden changes in a person's will, estate plan, or power of attorney may signal financial abuse. If you observe such changes, initiate a conversation about financial safety and offer help in reporting concerns.
Other Types of Elder Abuse
Physical Abuse
Definition: Nonaccidental infliction of bodily harm.Examples: Hitting, slapping, misuse of medications.
Warning Signs: Bruises, broken bones, caregiver refusal of private visits.
Psychological/Emotional Abuse
Definition: Actions causing emotional pain.Examples: Yelling, ignoring, threats.
Warning Signs: Depression, behavioral changes, refusal to eat or take medication.
Abandonment
Definition: Desertion by a responsible caregiver.Examples: Leaving elder without care.
Warning Signs: Elder found alone, lack of contact or support.
Sexual Abuse
Definition: Non-consensual sexual contact.Examples: Unwanted touching, coercion.
Warning Signs: Bruising, STDs, fearfulness.
How to Respond
If you suspect elder financial abuse, report it immediately. Timely reporting can prevent further harm and initiate protective services for the vulnerable adult.
State-Specific Reporting Contacts
California- Form: SOC 342 - Report of Suspected Dependent Adult/Elder Financial Abuse (PDF)
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Contacts:
- Statewide APS Intake Line: (833) 401-0832
- Los Angeles County APS: (877) 477-3646
- California Attorney General Elder Abuse Hotline: (800) 722-0432
- Online Portal: TX Abuse Hotline Website
- Contact: Texas Abuse Hotline: (800) 252-5400
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Contacts:
- APS Helpline: (844) 697-3505
- NY Department of Financial Services (DFS): (800) 342-3736
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Contacts:
- APS County Offices: NJ APS Directory
- MFCU Elder Abuse Tip Line: (609) 292-1272
- Online Reporting: NJ Medicaid Fraud
- Form: DHS 1640 - Vulnerable Adult Abuse Report Form
- Contact: Statewide APS Reporting Line: (808) 832-5115
Helpful Resources for Elder Abuse Support
Eldercare Locator: 800-677-1116NAPSA: 202-370-6292
NCEA: 855-500-3537
National Domestic Violence Hotline: 800-799-7233
U.S. DOJ Elder Justice Initiative: 202-514-2000, TTY: 800-877-8339
National Elder Fraud Hotline: 833-372-8311