Financial abuse is a form of abuse that is oftentimes overlooked, but it is a fairly common type of abuse among elderly populations. Also, elderly people are oftentimes targeted for financial abuse because they are vulnerable, they tend to pay less attention to their finances, and they are willing to trust those who befriend them. So, to nip financial abuse in the bud, you should be aware of these examples and warnings signs of this type of abuse.
10 Financial Abuse Examples
- Bank fraud.
- Cashing checks without the permission of the elderly person.
- Coercion into signing a document.
- Credit card fraud.
- Deceit to sign a document.
- Forged signatures.
- Investment fraud.
- Misuse of money or possessions.
- Stealing of money or possessions.
- Stolen identity.
10 Financial Abuse Signs
- Addition of a name to a signature card.
- Unpaid bills.
- Changes to a Will, title, policy, or power of attorney.
- Large withdrawals from accounts.
- Missing cash or possessions.
- Changes in financial condition.
- Unnecessary subscriptions to goods or services.
- Misuse by nursing home of personal account.
- Phony account activity.
Learn more about this type of abuse by contacting an attorney. A lawyer can answer your questions and keep your loved one safe. You can also get more information about financial abuse of the elderly here.