AARP Fraud Watch Scam of the Week

Each year, the US draws attention to the pernicious crime of elder abuse in our country. Elder financial exploitation – generally involving a known person who is deceiving and manipulating an older adult to steal from them, is a multi-billion dollar, and often unreported, crime. To connect into World Elder Abuse Awareness Day on June 15, it’s good to remember that there are things we can do to identify and stop elder financial exploitation.  

Encourage your loved one to designate someone they trust to help them with financial decisions. The federal government’s Eldercare Locator can help you find free or low-cost legal assistance. Suggest they add a trusted contact for their financial institutions if they are unreachable or if questionable activity is detected. A trusted contact is not able to make transactions, but the financial institution can disclose some account information to them.   

Also, watch out for someone — even someone you thought you or your loved one could trust — who discourages contact with family and friends, exerts pressure on financial decisions or asks for large sums of money.   

Most importantly, financial exploitation is a crime and should be reported to your local police or Sheriff or to 911 if the target is in danger.  

Be a fraud fighter!  If you can spot a scam, you can stop a scam.

The AARP Fraud Watch Network is a free resource for all. Learn how to proactively spot scams or get guidance if you’ve been targeted. Visit aarp.org/fraudwatchnetwork or call our dedicated helpline to speak to a fraud specialist at 1-877-908-3360.

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