Protecting Older Adults: How to Recognize and Report Financial Abuse

Financial exploitation is the most common form of elder abuse, yet it often goes unnoticed or unreported. Understanding the warning signs and knowing how to respond can help prevent serious financial and emotional harm to older adults.

Recognizing Financial Exploitation

Elder financial abuse often involves deception or manipulation for personal gain. While some scams are obvious, others are subtle and develop over time. Red flags may include sudden changes in spending or banking behavior, unexplained withdrawals, missing assets, unpaid bills, or unexpected changes to legal documents. In some cases, new caregivers, friends, or relatives may begin controlling finances or inserting themselves into financial decisions.

Taking Action When Something Feels Wrong

If you suspect financial abuse, act promptly but with care. Many older adults feel embarrassed or afraid to speak up. Start by having a calm, supportive conversation. Document anything unusual you observe, including dates, transactions, and individuals involved. Once you have gathered information, report your concerns to the appropriate organization.

Where to Report Concerns

The right place to report depends on the situation. If an elder is in immediate danger, contact local law enforcement or call 911. For non-emergency situations, Adult Protective Services can assess the circumstances and connect individuals with support and protection. If the abuse involves scams targeting seniors, the U.S. Senate Special Committee on Aging and its scam hotline can provide assistance. When you’re unsure where to start, the Elder Care Locator can guide you to local resources.

Responding to Identity Theft

If identity theft is suspected, time matters. Financial institutions should be alerted right away to secure accounts. Credit bureaus can place fraud alerts and provide reports to identify unauthorized activity. Filing a report through IdentityTheft.gov and with local law enforcement helps create a recovery plan and official record.

Moving Forward After Reporting

Reporting abuse is only the first step. Continued monitoring of accounts, regular credit checks, and guidance from financial professionals can help prevent future issues. Emotional support is just as important—financial abuse can be deeply distressing, and counseling may help older adults regain confidence and stability.

Final Thoughts

Early action, careful documentation, and compassionate support make a real difference. By recognizing the signs of elder financial abuse and using available resources, you can help protect the financial security and well-being of someone who may be vulnerable.