Elder Financial Exploitation
Learn how older adults are financially exploited — including the grandparent scam, caregiver theft, and property fraud — and the warning signs to watch for.
Lesson content
Summary
Financial exploitation occurs when someone improperly uses an older adult's money or property. It can come from strangers, caregivers, or even family members.
Examples
- Property title fraud
- Caregiver theft
- Fake investment seminars
- Grandparent scam
- Fake government mail
The Grandparent Scam
Someone pretends to be your grandchild. They claim there is an emergency and ask for immediate money.
Always call your family member directly using a number you already have before sending money.
Warning Signs
- Requests for secrecy
- Wire transfers
- Gift cards as payment
- Pressure to act immediately
Safety Tip
Create a family rule: no real emergency requires secrecy from the whole family. If someone says "do not tell anyone," that is a warning sign.
Step-by-step actions
- Call your family member directly before sending emergency money.
- Never keep financial requests secret — talk to someone you trust.
- Refuse payment by wire transfer, gift cards, or cryptocurrency.
- Review property documents carefully before signing — ask a trusted advisor.
- Monitor bank accounts for unauthorized withdrawals.
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