14 Red Flags for Elder Financial Abuse

Unusual activity in an older person’s bank accounts, including large, frequent or unexplained withdrawals
Changing from a basic account to one that offers more complicated services the customer does not fully understand or need
Withdrawals from bank accounts or transfers between accounts the customer cannot explain
A new “best friend” accompanying an older person to the bank
Sudden non-sufficient fund activity or unpaid bills
Closing CDs or accounts without regard to penalties
Uncharacteristic attempts to wire large sums of money
Suspicious signatures on checks, or outright forgery
Confusion, fear or lack of awareness on the part of an older customer
Checks written as “loans” or “gifts”
Bank statements that no longer go to the customer’s home
New powers of attorney the older person does not understand
A caretaker, relative or friend who suddenly begins conducting financial transactions on behalf of an older person without proper documentation
Altered wills and trusts