• By Shae King
• Posted Monday, May 10, 2021

Signs of Elder Financial Exploitation

Financial exploitation is defined as the dishonest or otherwise fraudulent, unauthorized, or unethical acts of a caregiver, fiduciary, and or entity in which the resources of an older person are exploited for personal advantage or gain by another; or actions that result in the deprivation of benefits, resources, belongings, or properties to which an older person is entitled. Elder financial exploitation is described as the theft of money, property or personal belongings.

Examples of the elder financial exploitation include:

• Charity Scams
• Identity Theft
• Computer and Internet Scams
• Grandparent Scams
• Exploitation by an agent under a power of attorney (POA) or person in another type of fiduciary relationship.

To protect yourself and your loved ones, here are the signs to look for in elder financial exploitation:

• Uncomfortable spending money on needs and wants
• Being isolated from friends and family
• Uncomfortable speaking with friends and family
• Abrupt changes in a will or other financial documents
• Unexplained disappearance of funds or valuable possessions
• Sudden appearance of previously uninvolved relatives claiming their rights to an older adult’s property or possessions