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Looking Out For An Elderly Friend or Relative

Key factors that increase the risk of elder financial exploitation

Loneliness- Lonely adults can be receptive to the overtures of a financial

predator because they like the company and need the help

Isolation - fewer friends and family around to notice a suspicious situation

or person and intervene

Poor Physical Health - a dependency on others is increased and this

dependency can create an opportunity for exploitation

Cognitive Impairment- First sign of cognitive decline is difficulty managing

finances . The ability to judge if someone is financially exploiting them is


Signs of elder financial exploitation

• Checks written to “cash”

• Unexplained disappearance of cash and valuable objects

• Unexplained withdrawals

• Unpaid bills

• Giving away money or spending money on unnecessary purchases

• Oversight of finances turned over to someone without consent

• Termination of utilities

• New “friends” or “helpers” unknown to the family

How to protect an elderly parent from financial exploitation

• Simplify their finances. Create automatic payment to billers through their


• Get rid of credit cards

• Closely monitor check book

• Put a limit on ATM withdrawals and point of sale purchases

• Allow a trusted individual to have access to your financial activity

• Know WHO is “helping” your parent and pay them directly, do

not allow money exchange between your parent and the


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