Elder Financial Abuse Resources

Red Flags to Watch Out For

• Plan ahead to protect your assets and to ensure your wishes are followed. You can talk to a Community First representative, an attorney, or a financial advisor about the best options for you.
• Shred receipts, bank statements, and unused credit card offers before throwing them away.
• Be careful and wise about whom you choose to act as your agent in all estate-planning matters.
• Lock up your checkbook, statements, and other sensitive information when others will be in your home.
• Never give out any personal information to anyone over the phone unless you initiated the call, and the other party is trusted.
• Never rush into a financial decision.
• Consult with a financial advisor or attorney before signing any document you don’t understand.
• Get to know your credit union or banker and build a relationship with the people who handle your finances. They can look out for any suspicious activity on your account.
• Don't allow any workers like the housekeeper, care takers, visiting healthcare provider, visitor to your home to have access to information about your finances.
• Pay with checks and credit cards instead of cash to keep a paper trail.
• Don’t be afraid to say “no.” It is your money, after all.

Tips for Family & Friends

• A sudden situation where the account has an insufficient amount of funds or unpaid bills.
• Unusual activity in an older person’s accounts, including large, frequent, or unexplained withdrawals.
• Withdrawals by an older person who rarely or never uses an ATM to conduct transactions.
• Changing from a basic account to one that offers more complicated services they do not fully understand or need.
• Withdrawals from accounts or transfers between accounts they cannot explain.
• New “best friends” accompanying an older person to the bank.
• Closing CDs or accounts without regard to penalties.
• Uncharacteristic attempts to wire large sums of money.
• Suspicious signatures on checks, or actual forgery.
• Confusion, fear or lack of awareness on their part, when questioned about activity or conducting a transaction.
• Refusal to make eye contact, shame, or reluctance to talk about the problem.
• Checks written as “loans” or “gifts.”
• Statements that no longer go to the member's home.
• New powers of attorney the older person does not understand.
• A caretaker, relative, or friend who suddenly begins conducting financial transactions on behalf of an older person without proper documentation.
• Altered wills and trusts.
• Loss of property.