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Narmatha's Thoughts http://narmathasthoughts.blogspot.com
Synopsis
Financial elder abuse warning signs
- Caregivers or family members who isolate the senior or speak for the senior
- Increased withdrawals or credit card charges
- Access to the elder’s account in ways that doesn’t match their abilities, for example a homebound senior making ATM withdrawals
Steps to protect against financial elder abuse:
- Protect your parents’ sensitive financial information from identity theft by securing blank checks, bank and brokerage statements and credit cards if you have service providers in their home.
- Shred incoming credit card applications and other unused financial documents.
- Monitor your parent’s accounts for unusual activity
- Discuss common financial scams with your parent. The police department will have more information about scams that are going on in your local area.
