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Elder abuse signs you should never ignore

Blog Post
2 min read
older women with gray hair with her head in her hands

When most people hear the term "elder abuse," they often think of physical neglect or mistreatment. But one of the most common and fastest growing forms of abuse is financial exploitation.

Every day, older adults lose money to scammers, dishonest caregivers, distant relatives, and even people they trust. In many cases, the victim doesn't realize what's happening until significant financial damage has already been done.

Financial abuse can take many forms like:

  • A scammer convincing a victim to send money to claim a prize
  • A fraudster impersonating a government agency, financial institution, or grandchild in need of emergency help.
  • A family member or close friend who gains access to the victim's accounts, pressures them to make financial decisions, or uses their money without permission.

So, how can you spot the warning signs?

Pay attention to sudden changes in financial behavior. Unexplained withdrawals, large purchases that seem out of character, missing checks, unpaid bills despite adequate income, or unusual transfers between accounts can all be red flags. You may also notice a loved one becoming secretive about finances, expressing concern or confusion about recent transactions, or mentioning a new friend who seems unusually interested in their money. 

Scammers often create a sense of urgency, fear, or excitement to pressure their victims into acting quickly. They may claim a loved one is in trouble, threaten legal action, or promise prize or investment opportunities that are simply too good to be true.

The best defense is communication. Take openly with aging parents, grandparents, and other loved ones about common scams and encourage them to pause before sending money or sharing personal information. Remind them that legitimate organizations, including SAFE,  will never pressure them to act immediately or ask for sensitive information through unsolicited call, emails, or text messages. 

At SAFE, we work every day to help protect our members from fraud and financial exploitation. If you notice suspicious account activity, believe a loved one may be the victim of a scam, or simply have questions about protecting yourself or your family, contact us at 800-763-8600 right away. The sooner your concerns are addressed, the better the chances of preventing financial loss.