The problem of financial swindles targeting senior citizens is very real and is getting worse. Research indicates that most often the perpetrators are family members or caregivers, with elderly women more likely to be targeted than men.
If you have someone caring for you or another individual, watch for these signs that financial exploitation or abuse may be going on:
- Large, unexplained withdrawals from accounts, or transfers between accounts that you may not be able to explain
- Suspicious signatures on checks or other documents
- Lifestyle not consistent with income or assets, or significant changes in spending patterns
- Notices to disconnect utilities
- Anxiety about personal finances
- Missed appointments or unpaid bills
- Abrupt changes to a will or power of attorney
- Unusual transfer of assets to others
If you suspect financial exploitation, visit the National Adult Protective Services Association website at napsa-now.org and click on your state to find your local office and report abuse.
Copyright 2013 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.