How to Spot Financial Elder Abuse

Elder financial abuse is one of the most underreported and devastating crimes facing older Americans today. Unlike fraud schemes run by strangers, this type of abuse is often carried out by people the victim knows and trusts — family members, caregivers, or even a “new friend.”

The crime is defined as the illegal or improper use of an older person’s funds, property, or assets for personal gain. Because the abuse exploits personal relationships, it can be particularly damaging and difficult for victims to recognize or report. Many cases go unreported until significant financial harm has already occurred.

Warning Signs of Elder Financial Abuse

Financial exploitation can take many forms. Here are some of the most common red flags families should watch for:

  • Unusual bank activity: Large or unexplained withdrawals, excessive ATM use by someone who hasn’t used one before, or sudden new joint accounts.
  • Unpaid bills despite available funds: If utilities, rent, or other routine bills go unpaid even though money is available, it may indicate funds are being misused.
  • Uncharacteristic transfers: Be cautious of large wire transfers or property transfers that don’t fit the elder’s financial history.
  • Changes in legal documents: Wills, trusts, or powers of attorney changed abruptly and without clear explanation.
  • Suspicious signatures: Forged or inconsistent signatures on checks or financial paperwork.
  • Missing valuables: The sudden disappearance of jewelry, collectibles, or cash from the home.

Behavioral Red Flags

  • Isolation from loved ones, often encouraged by the abuser to make the victim more dependent and easier to control.
  • Sudden fear, anxiety, or confusion when finances are discussed.
  • A “new best friend” who quickly becomes overly involved in the elder’s personal and financial life, sometimes even accompanying them to the bank.

Why So Many Cases Go Unreported

Despite the seriousness of this crime, elder financial abuse frequently goes unreported. Victims may feel ashamed or embarrassed, or they may fear retaliation from the abuser, particularly if it is a close relative. Some victims simply don’t recognize that the exploitation is happening until it is too late.

What You Can Do if You Suspect Abuse

  • Talk to your loved one and gently raise your concerns.
  • Report suspicions to Adult Protective Services or law enforcement.
  • Notify the elder’s bank or credit union, which may be able to monitor accounts or flag suspicious activity.
  • Document everything, including dates, names, and details of any questionable transactions.

Protecting Your Loved Ones

Educating yourself and others is the first step in preventing financial elder abuse. By staying alert to the warning signs and being willing to speak up, you can help protect vulnerable seniors from losing their life savings to exploitation.

If you or a loved one have been the victim of elder financial abuse, contact ChapmanAlbin today. Our firm represents individuals and families who have been harmed by financial misconduct, and we may be able to help you recover what was lost.

Take the next steps to find out if you have a claim:

Step 1.

Talk to an Experienced Attorney Today

Call and speak to one of our attorneys* for a no-cost consultation to discuss your situation, answer your questions, and help you determine the next steps. This call usually takes about 15 minutes, but we are happy to talk to you as long as you would like!

Step 2.

Quick Review of Your Paperwork

If we think you might have a case, we will need to review a few basic documents. If we determine you have a case, then you will have the option to hire us as your attorneys to pursue it.

Step 3.

Signed Attorney/Client Agreement

If you decide to hire us to pursue your case, we will have you sign an attorney-client agreement so we can begin the process of trying to recover your losses.*

*In the vast majority of cases, our agreement is contingent – meaning you won’t owe us any money unless we recover money for you.


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