November 21, 2025
Elder Financial Exploitation: Keeping Seniors Safe from Scammers
Elder financial exploitation happens when someone takes advantage of an older adult to gain access to money or assets. Sadly, it’s often committed by strangers, but sometimes it’s someone the senior trusts.
Common types of scams targeting seniors include:
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Grandparent Scams: Scammers call pretending to be a grandchild (or another family member) in urgent trouble, asking for money immediately.
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Romance Scams: Fraudsters build relationships online or over the phone, then ask for financial help or personal information.
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Tech Support Scams: Scammers claim there’s a problem with the senior’s computer or device and ask for payment to “fix” it, often stealing money or personal data in the process.
Other red flags include: sudden requests for large sums of money, pressure to act quickly, or unusual withdrawals from accounts.
Ways to protect seniors:
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Keep banking and credit accounts monitored for unusual activity.
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Secure important documents, checks, and personal information.
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Educate seniors on common scams and red flags.
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Always verify urgent requests by calling family members or official sources.
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Report suspicious activity immediately to authorities.
Awareness, education, and vigilance are the best defenses. Helping seniors understand these scams can prevent serious financial harm and give them peace of mind.
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