Identify Signs of Elder Financial Abuse

by Center for Personal Finance editors / September 23rd, 2020

Financial crimes against the elderly don’t occur in a vacuum. When the elderly are victims of financial exploitation, patterns of suspicious activity should be red flags, according to the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department. By looking for these red flags, employees at credit unions and other financial institutions play a key role in exposing cases of financial exploitation of the elderly. Warning signs can include erratic or unusual banking transactions, or changes in banking patterns, such as:

Some interactions with caregivers also can set off alarms. Suspicious behaviors include:


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