Signs of financial exploitation
Financial Exploitation of older citizens is believed to cost an estimated $3 billion dollars in the U.S. annually. The Iowa Department of Aging is asking Iowans to recognize warning signs of financial exploitation including:
• Financial transactions occurring on the older person’s bank account that is abnormal to their normal pattern causing their finances to dwindle away;
• Their caregiver refuses to use the funds for necessary care and treatment;
• Someone is threatening to place to place them in a long-term care setting if they are not allowed to control their finances;
• Being threatened with harm or abandonment if they do not agree to let the caregiver take over their finances.
If financial exploitation is suspected and someone may be in immediate danger, call the local police by dialing 911. For more information on financial exploitation and other forms of elder abuse, go the Iowa Department on Aging’s website at www.iowaaging.gov or call toll-free: (800) 532-3213.