SmartMoney Monday: Elder Financial Abuse - Hawaii News Now - KGMB and KHNL

SmartMoney Monday: Elder Financial Abuse

(Image: Hawaii News Now) (Image: Hawaii News Now)
HONOLULU (HawaiiNewsNow) -

An elderly person can be easy to take advantage of. They may have disabilities that make them more dependent on others, and they may be more easily confused by technology and not know who to trust, which makes them more vulnerable to be scammed or defrauded. It's estimated that thieves stole almost $3 billion from the elderly last year.

How can you help stop elder financial abuse? Theft, fraud, and misuse of a person's credit are just a few of the signs to be on the lookout for. Unusual activity and missing bank statements are also some warning signs that there may be some trouble afoot.

But if you are ever in doubt and if you notice anything strange, talk to your elderly friend or loved one. See if someone new is "helping" them with their money, or using their credit card without permission. If you suspect Elder Financial Abuse, contact Adult Protective Services, your local police and the bank or credit card company right away.

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