Suggestions for seniors

Here are some potential issues and information on how to avoid them.

For a variety of reasons, older people can be at increased risk of being taken advantage of financially by family, friends, or strangers. These factors include:
  • • Isolation and loneliness
  • • Recent losses of loved ones
  • • Physical or mental disabilities
  • • Lack of familiarity with financial matters and modern technology
  • • Having family members who are unemployed and/or have financial, substance abuse, or gambling problems
    • Some examples of this criminal activity, often called elder financial abuse, include:
  • • Stealing an older person’s money or property
  • • Forging an older person’s signature on financial documents such as checks
  • • Tricking, forcing or scaring an older person into signing a legal contract, such as a deed, will, or power of attorney
  • • Using the older person’s credit card, property, or possessions without permission
  • • One individual promising to another lifelong care in exchange for money or property and not following through on the promise
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    Photo of senior citizens
    To avoid elder financial abuse:
  • Recognize the warning signs
  • Know the profile of perpetrators
  • Take steps to reduce risk
    • If you suspect elder financial abuse, contact your financial institution.
    For further information, click on Library.
    You need to protect yourself Security at home and online ATM, debit & credit card security tips Mail security Introduction to fraud Two common examples of fraud Suggestions for seniors Your best defense: Monitor financial activity