Protecting older adults from fraud and financial exploitation
Losing money or possessions to scams, fraud, and exploitation can be especially devastating to older adults, who may be not be able to earn back what they’ve lost.
Resources for consumers
These consumer advisories are designed to help you make a long-term plan to protect yourself from fraud, with the help of a trusted contact or your bank.
| Title | Action |
|---|---|
Choosing a trusted contact person can help you protect your money |
|
Work with your bank or credit union to protect older adults from financial exploitation |
|
Planning for diminished capacity and illness |
Resources for caregivers and service providers
Practitioners play an important role in providing older Americans and their families with information on how to prevent fraud. These resources are designed to be shared by caregivers and service providers working with families of older Americans.
| Title | Action |
|---|---|
Issue Spotlight: Nursing Home Debt Collection |
|
Preventing elder financial abuse: Guide for nursing homes and assisted living communities |
|
Preventing elder financial abuse: Guide for family and friends of people living in nursing homes and assisted living communities |
Download the guide |
Reporting elder financial abuse: Help for family and friends of people living in nursing homes and assisted living communities |
Read the bifold |
Placemats with consumer protection tips to use with older adults |
|
Support your community’s fight against elder financial exploitation |
Resources for financial institutions
Financial institution staff are critical in the fight against financial exploitation as they may be one of the first to notice suspicious activity. These resources can help bankers, credit union staff, and others serve customers, clients, and members as they age.
| Title | Actions |
|---|---|
Interagency Statement on Elder Financial Exploitation |
|
Financial institutions can help prevent elder financial exploitation with alerts to trusted contacts |
|
Age-friendly promotional toolkit for banks |
|
Age-friendly promotional toolkit for credit unions |
|
Reporting of Suspected Elder Financial Exploitation by Financial Institutions |
|
Suspicious Activity Reports on Elder Financial Exploitation |
|
Advisory and report for financial institutions on preventing and responding to elder financial exploitation |
|
Interagency guidance on privacy laws and reporting financial abuse of older adults |
|
Memorandum on financial institution and law enforcement efforts to combat elder financial exploitation |