Financial Exploitation and Seniors Posted January 28, 2013 in Our articles
Seniors as Targets for Financial Exploitation
Seniors are at high risk for being scammed by people who prey on vulnerable individuals. Seniors may have difficulty keeping track of their expenditures, bill paying and account management for a variety of reasons including physical or cognitive decline, poor nutrition or social withdrawal. As a family member, community neighbor or friend, be attuned to changes and potential red flags.
Warning signs that a senior may be exploited:
- Monitor suspicious documents or an unlikely signature on a check
- Look for unexplained withdrawals or money transferred between accounts
- Unusual or high priced purchases that may be out of character
- Care not commensurate with previous lifestyle and or the size of the estate
- Household repairs are completed by reputable providers
- Monitor nutrition and personal hygiene
Hints and Reminders:
- Consider hiring a reputable money manager to monitor funds, cards and bank accounts
- Never provide a caller with personal or confidential information
- Look out for offers that are too good to be true; they usually are
- Be aware of personal property; maintaining an inventory is valuable
The PA Office of the Attorney General office has an Elder Abuse Unit that investigates those who threaten or deceive older Pennsylvanians. The Unit also offers outreach and teaching to the public.
For more information, contact the PA Office of the Attorney General.