June 25, 2024

Potential warning signs of financial abuse

Anyone of any age can experience financial abuse. However, some people may be at greater risk than others. As people age, they may become bigger targets for financial abuse.

The following can be potential warning signs of elder financial abuse. If you observe an elderly person or a loved one:

• Receiving phone calls or emails asking for payments, saying bills are past due, or urgently wanting to send money.
• Being secretive about moving money or a new friend or acquaintance they met online.
• Suddenly have financial documents or instruments go missing.
• Express worry or confusion about finances

Here are a few was you can help prevent elder financial abuse:

• Proactively keep in touch with your loved ones.
• Discourage loved ones from accepting phone calls from unknown phone numbers or corresponding with people they don’t know online.
• Limit sharing personal information online and make sure social media accounts are private.

If you are worried that you or someone you know is a victim of elder financial abuse, contact your bank immediately for assistance and guidance on how to best protect your accounts and personal information.