Elder financial abuse is a growing concern in the United States, with millions of older Americans falling victim to scams, fraud and exploitation each year. While elder financial abuse in California can take many forms, it is a serious problem that can leave victims with financial losses and emotional scars that can last a lifetime.
Educate yourself and your loved ones
The first step in preventing financial elder abuse is to educate yourself and your loved ones about the different types of scams and exploitation that are common in the senior community. This includes scams related to telemarketing, email and internet fraud, health care fraud and other types of exploitation.
Discuss financial matters with loved ones
Talking openly and honestly with loved ones about financial matters can help prevent elder financial abuse. This includes discussing plans for future care, as well as sharing information about bank accounts, investment portfolios and other assets.
Take steps to protect personal information
To prevent elder financial abuse, it is important to protect personal information, such as Social Security numbers, bank account information and credit card numbers. This includes shredding sensitive documents, avoiding phishing scams and being cautious when giving out personal information over the phone or the internet.
Be vigilant about new contacts
Older adults are often targeted by scammers posing as government officials, lawyers or other trusted professionals. It is essential to be vigilant about new contacts and to never give out personal information or money to someone you do not know.
Use technology wisely
Technology can also be used to prevent elder financial abuse. For example, setting up automatic alerts for bank accounts or credit cards can help detect suspicious activity. Using online resources to research potential scams and fraud can help prevent exploitation.
Seeking help
If you suspect that you or a loved one is the victim of elder financial abuse, it is important to seek professional help. This can include contacting law enforcement, the state attorney general’s office or a local elder abuse hotline.
Preventing a worrisome trend
Elder financial abuse is a growing concern in the United States, but some steps can be taken to prevent it. By educating yourself and your loved ones about the different types of scams and exploitation, taking steps to protect personal information and seeking guidance from the authorities when needed, you can help protect your loved ones from financial abuse.