Financial or Material Exploitation


Financial or material exploitation is defined as the illegal or improper use of an elder's funds, property, or assets. Examples include but are not limited to cashing an elderly person's checks without authorization/permission; forging an older person's signature; misusing or stealing an older person's money or possessions; coercing or deceiving an older person into signing any document (e.g., contracts or will); and the improper use of conservatorship, guardianship, or power of attorney.

Signs and symptoms of financial or material exploitation include but are not limited to:

•  sudden changes in bank account or banking practice, including an unexplained withdrawal of large sums of money by a person accompanying the elder;

•  the inclusion of additional names on an elder's bank signature card;

•  unauthorized withdrawal of the elder's funds using the elder's ATM card;

•  abrupt changes in a will or other financial documents;

•  unexplained disappearance of funds or valuable possessions;

•  substandard care being provided or bills unpaid despite the availability of adequate financial resources;

•  discovery of an elder's signature being forged for financial transactions or for the titles of his/her possessions;

•  sudden appearance of previously uninvolved relatives claiming their rights to an elder's affairs and possessions;

•  unexplained sudden transfer of assets to a family member or someone outside the family;

•  the provision of services that are not necessary; and

•  an elder's report of financial exploitation.

  Tips for Avoiding Fraud or Financial Exploitation

It's not always easy to spot con artists. They're smart, extremely persuasive, and aggressive. They invade your home by telephone and mail, advertise in well-known newspapers and magazines, and come to your door.

Most people think they're too smart to fall for a scam. But con artists rob all kinds of people - from investment counselors and doctors to teenagers and elderly widows - of billions of dollars every year.

• Don't give financial information to callers you don't know. This includes credit card or bank numbers, and Social Security number. It is illegal for telemarketers to ask for this to verify prize or gift eligibility.

• Don't be pressured into making an immediate decision.

• Get all information in writing before agreeing to a purchase.

• Beware of fraudulent charities. Ask for a financial report before donating; reputable charity organizations will always send one.

• Don't buy things offering quick or dramatic results.

• Look closely at things that come in the mail. Something that looks official or is on letterhead might be a scam.

• Hang up the phone is something sounds suspicious.

Just remember…if it sounds too good to be true, it probably is. The National Fraud Information Center has many more tips.

What To Do If Someone Rips You Off

• Report con games to the police, your city or state consumer protection office, district attorney's office, or a consumer advocacy group.
• If you suspect fraud, call the National Fraud Information Center at 800-876-7060, 9:00 a.m. to 5:30 p.m. EST. To find out more, visit http://www.fraud.org/.
• Don't feel foolish. Reporting is vital. Very few frauds are reported, which leaves the con artists free to rob other people of their money - and their trust.

Information Provided by the National Crime Prevention Council

Physical and Sexual Abuse 

Emotional or Psychological Abuse

Neglect, Self-Neglect, and Abandonment