How to Protect Your Loved Ones from Elder Abuse
Help protect older adults from financial abuse with early planning, scam awareness, regular check-ins, and secure financial and tech safeguards.
According to the U.S. Department of Justice, offenders steal about $28.3 billion each year from seniors age 60 and older.¹ Elder financial abuse happens when someone takes or misuses an older adult’s money or property.
But it’s not just about the monetary cost — elder financial abuse can steal independence, confidence, and peace of mind. While this can happen to anyone, taking some of the following steps early is one of the most powerful ways to protect their freedom and preserve the financial progress they’ve spent a lifetime building.
Start the Conversation Early
Planning ahead while your loved one is mentally sharp can make a meaningful difference later. Encourage them to name someone they trust as their power of attorney, giving that person the legal authority to make financial decisions if they become unable to. It can also help to write down financial wishes in advance, reducing confusion and stress during difficult moments down the line.
Talk About Scams
Make sure your loved ones know never to share personal or financial information with someone who reaches out unexpectedly by phone, email, or text. Let them know they can check with you if something doesn’t feel right. A second set of eyes can help prevent costly mistakes and reinforce confidence when handling unfamiliar situations. You may also be able to better assist them in reaching out to verify any communications through official channels.
Stay Connected
Regular check‑ins — whether through phone calls, visits, or emails — do more than maintain connection. They also provide opportunities to notice changes in behavior, mood, or financial habits that may signal a problem. Staying involved can help your loved one feel supported rather than monitored.
Get to Know Their Caregivers
If a caregiver is involved, building a relationship with them can help create a safer, more transparent environment. Staying informed and engaged supports everyone involved and helps ensure your loved one’s needs are being met appropriately. Monitoring caregiver or agency payments can also help confirm that charges are consistent and accurate.
Keep an Eye on Finances
Becoming an authorized user or joint owner on bank or investment accounts can allow you to watch for unusual transactions or spending patterns. Setting up direct deposit for checks may also reduce the risk of lost or intercepted funds, adding another layer of protection.
Be Cautious with Paperwork
Encourage your loved one not to sign documents they don’t fully understand. Requesting financial offers in writing — and reviewing them together — can help prevent misunderstandings and rushed decisions. Taking time to review paperwork helps prevent negative outcomes and provides greater peace of mind.
Protect Their Technology
If your loved one uses a computer, tablet, or smartphone, help ensure their software and security updates are up to date. These updates play an important role in protecting against known cyber threats and vulnerabilities. Identity protection services with credit monitoring and fraud alerts can also provide additional reassurance.
If you suspect that an older adult is experiencing financial abuse, it’s important to act. Contact Adult Protective Services (APS) in your state, local law enforcement, and the individual’s financial institution. Many communities also offer support through senior advocacy groups and hotlines that can help guide next steps. Acting early can help limit financial loss and protect a lifetime of progress.