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Financial Exploitation
Financial Exploitation

If someone you know is or has been a victim of financial exploitation, REPORT IT!

Financial exploitation crosses racial, ethnic, and economic lines. One of the worst abuses of an older person occurs when a trusted person, family member, caregiver, professional or smooth talker, steals an elderís money or property, something also referred to as financial exploitation. This money or property is rarely returned, and the loss puts an elderly victimís financial stability and peace of mind at risk.

Sometimes family members, caregivers, bank employees and financial advisers see an elderly person being financially exploited but donít know what to do. For example, the bank teller wonders why Mrs. Smith, an older widow, is withdrawing money more often than usual; or why Mr. Jonesí new girlfriend always accompanies him to the bank; or why Mrs. Brownís eldest daughter, who has power of attorney, wants to transfer her motherís bank accounts to her name. If these elderly adults are being financially exploited, how can they be helped?

Here are three easy steps to reporting financial exploitation. Use our map to find your local resources.

  1. Call Adult Protective Services.
  2. Call the local police and the FBI. Donít worry about the amount of money or property involved.
  3. Call your Attorney Generalís Office.

This website covers different aspects of financial exploitation and includes training videos for families and caregivers, banks and financial institutions, and law enforcement and Frequently Asked Questions (FAQs).

See also, Community Oriented Policing Services (COPS) resources regarding financial crimes against the elderly.