Protecting Seniors from Elder Abuse
When people hear the term elder abuse, they often think of neglect or physical harm. However, financial abuse is one of the most common and costly forms, affecting millions of older Americans each year.
Financial exploitation can take many forms, including scam phone calls, phishing emails, fake charities, investment fraud, forged documents, and theft. Sadly, financial abuse is often committed by someone the victim knows and trusts, such as a caregiver, neighbor, friend, or even a family member.
Seniors may be especially vulnerable due to memory loss, declining cognitive abilities, social isolation, or increased dependence on others. That’s why loved ones play an important role in helping protect them.
Warning Signs to Watch For:
- Shows signs of memory loss or impaired judgment.
- Has unexplained financial transactions or missing funds.
- Recently added someone to a bank account.
- Has developed a relationship with a new person who seems overly influential.
- Is being isolated from family and friends.
- Has valuables missing from their home.
- Is under pressure to change estate or inheritance plans.
How You Can Help
- Start the conversation. Talk openly about scams and financial abuse.
- Monitor finances together. Review bank and credit card statements for suspicious activity.
- Encourage good security habits. Never share passwords or personal information with unfamiliar individuals.
- Stay connected. Regular contact can help reduce isolation and identify concerns early.
- Use legal protections. Discuss options such as powers of attorney or trusts with a qualified attorney.
- Report suspected abuse. Contact local law enforcement, Adult Protective Services, or the National Elder Fraud Hotline at 833-372-8311.
We’re here to help
Have questions about protecting yourself or a loved one from financial fraud? Stop by your local Pennian Bank office or speak with one of our team members. We’re committed to helping our communities stay informed, protected, and financially secure.
