Financial exploitation is one of the most common forms of elder abuse. It occurs when someone improperly uses an older adult’s money, property, or assets for personal gain. Families play a critical role in protecting their loved ones. Use this checklist to recognize risks, take preventive action, and respond effectively.

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What Is Financial Exploitation?

Financial exploitation includes any unauthorized or improper use of an elder’s money or property. It can involve:

• Stealing or taking assets without permission

• Coercion or manipulation to gain money or property

• Misuse of legal authority, like powers of attorney

• Scams via phone, email, or in-person contacts

• Actions by family members, caregivers, friends, or strangers

Even well-meaning individuals can unintentionally cause harm if they control finances without consent.

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Common Examples of Exploitation

• Unauthorized withdrawals or transfers from bank accounts

• Forging checks, signatures, or legal documents

• Pressuring the elder to give money or property

• Using gifts, favors, or loans to control the elder

• Charging for services not provided or overbilling

• Misusing powers of attorney or legal authority

• Falling victim to scams via phone, email, or in person

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Warning Signs to Watch For

• Sudden or unexplained loss of money or assets

• Frequent or unusual banking activity

• Missing belongings or valuable items

• Sudden changes in financial documents, wills, or powers of attorney

• Caregivers preventing the elder from managing or reviewing their finances

• Fear or reluctance to talk about money

• Unexplained services, subscriptions, or bills in the elder’s name

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Prevention Checklist

• Encourage elders to manage their own finances as much as possible

• Review accounts together regularly

• Work with trusted financial and legal professionals

• Keep detailed records of transactions, bills, and statements

• Set up safeguards: joint accounts, automatic bill pay, alerts for unusual activity

• Limit financial access to trusted individuals only

• Educate elders about common scams

• Regularly update legal documents (powers of attorney, wills, guardianships) with professional guidance

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Responding to Suspected Exploitation

• Document all observations: dates, times, and details

• Speak privately and calmly with the elder

• Engage trusted family members or friends for support

• Report to local authorities, adult protective services, or financial institutions

• Seek professional guidance from attorneys or financial advisors

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Leveraging NAEAP Resources

NAEAP offers tools and guidance for families to protect elders:

• Digital worksheets to track financial activity

• Guides on legal safeguards and powers of attorney

• Verified local professionals through the NAEAP Partner directory

• Tips on effective communication with caregivers and service providers

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Words of Encouragement

Financial exploitation can feel overwhelming, but awareness is powerful. Most families and caregivers act with good intentions, and early monitoring, education, and use of NAEAP resources can prevent abuse before it occurs. Staying informed and engaged ensures your loved one’s finances remain secure and their rights protected.