Elder Abuse and Financial Exploitation: Signs, Reporting, Recovery

To report elder abuse and financial exploitation, call 911 if the older adult is in immediate danger, then contact Adult Protective Services (APS) in your state or the Eldercare Locator at 1-800-677-1116 to be routed to the right local office. If money is already moving, act in parallel: freeze the elder’s credit, alert their bank or brokerage, and start writing down what you know. Losses from elder financial exploitation are estimated at $28.3 billion a year, and cases caught early are far more likely to end in recovery.¹

Signs That Something Is Wrong

Financial exploitation shows up in the account activity before it shows up anywhere else. Unexplained large withdrawals, frequent transfers between accounts, or the sudden closure of a long-held account all warrant a closer look. So does a new name on a signature card, a deed, or a beneficiary form, especially if the person named is someone the elder met recently. Watch for abrupt changes to a will, trust, or power of attorney that benefit a new acquaintance or one family member over others.

Day-to-day money problems in an older adult who should have enough income are another warning sign. Unpaid utility bills, missed medication refills, or a fridge that’s suddenly bare can point to someone else controlling the money. Valuables going missing from the home, or new credit accounts appearing on a credit report the elder never authorized, both belong on the list.

Behavioral changes often surface first. An elder who becomes anxious, confused, or fearful when finances come up, who won’t speak freely around a particular caregiver or relative, or who withdraws from friends and routines may be under someone’s control. Neighbors and friends frequently notice the shift in mood before the numbers on a statement give the scheme away.

Who Tends to Be Behind It

Most perpetrators are people the elder already trusts: adult children, grandchildren, spouses, and in-home caregivers. Common tactics include pressuring the elder into signing over property, taking cash or credit cards, overcharging for services, and framing outright transfers as “gifts” or “loans.” Long-term care staff have similar access.

Power of attorney abuse is one of the most damaging patterns. An agent with financial authority is legally required to act in the elder’s best interest, but some treat the document as permission to drain accounts or sell property. Revoking a power of attorney has to follow state-specific requirements: the abusive agent needs actual notice of the revocation, and banks, medical providers, and anyone else relying on the old document must be told too.² An elder law attorney can help with the paperwork and timing, particularly if there are safety concerns about how the agent may react.

Strangers use different tools but pick the same targets. The “grandparent scam,” in which a caller impersonates a grandchild in urgent need of money, is widespread, along with fake prize notifications, fraudulent investment pitches, and phishing emails that harvest login credentials. Scammers look specifically for people who are isolated or experiencing cognitive decline.

Where to Report

Immediate Danger: Call 911

If the older adult is being physically harmed, threatened, or is in any immediate risk, call 911 first. Other reports can follow once the person is safe.³

Adult Protective Services

APS is the primary agency for investigating suspected elder abuse, neglect, and financial exploitation. Every state runs its own program. If you don’t know your local number, call the Eldercare Locator at 1-800-677-1116, staffed Monday through Friday, 9 a.m. to 8 p.m. Eastern Time. Operators route you to the right agency.³ Many state and county APS offices also take reports online.

Long-Term Care Ombudsman

When the abuse is happening in a nursing home, assisted living facility, or other residential care setting, contact the Long-Term Care Ombudsman Program. Ombudsmen are independent advocates for residents. They investigate complaints about health, safety, and residents’ rights, and they can intervene with facility management on the resident’s behalf. Every state has a statewide office, and complaints are kept confidential.⁴

Federal Hotlines and Complaint Portals

You can file with more than one federal agency, and often should:

National Elder Fraud Hotline, 833-372-8311. Run by the Department of Justice’s Office for Victims of Crime. Open Monday through Friday, 10 a.m. to 6 p.m. Eastern Time, with services in English, Spanish, and other languages. A case manager stays assigned to you.⁵
FBI Internet Crime Complaint Center, ic3.gov. For fraud that happened online, including phishing, investment scams, and email schemes. Complaints may be referred to federal, state, or local law enforcement.⁶
Federal Trade Commission, ReportFraud.ftc.gov. For scams, telemarketing fraud, and deceptive business practices aimed at older adults.⁷
Consumer Financial Protection Bureau, consumerfinance.gov/complaint. For exploitation involving a bank, credit union, mortgage company, or other financial institution. The CFPB forwards complaints to the company and generally requires a response within 15 days.⁸

Local Police

For a past or ongoing financial crime that isn’t an emergency, call your local police department’s non-emergency line. A police report creates a separate criminal record of the exploitation, which supports both the APS investigation and any later effort to recover stolen assets. Law enforcement runs its investigation independently from APS but the two are often coordinated.

What to Have Ready Before You Call

A detailed report moves faster. Pull together as much of the following as you can:

The victim’s full name, current address, approximate age, and any conditions like dementia or physical disability that increase vulnerability.
The suspected perpetrator’s name, relationship to the victim, address, and whether they are a paid or unpaid caregiver.
A chronological account with specific dates. For financial exploitation, note when a suspicious withdrawal happened, when a new name appeared on an account, or when a caregiver got access to financial documents.
Evidence: copies of bank statements showing unusual transactions, suspicious emails or letters, photos of missing property, and names and contact information for anyone else who witnessed the situation.

Don’t wait for a complete picture. Agencies would rather get a partial report today than a thorough one weeks from now, after more assets have disappeared.

What Happens After You Report

APS screens each report to decide how urgently to respond. Immediate safety threats typically trigger contact within 24 hours; non-emergency reports may take several business days. Across states, the window for initiating contact runs from immediate response to about 10 days depending on the priority level assigned.

An investigator visits the elder, assesses the situation, and determines what services can reduce the risk. That might mean arranging a new caregiver, connecting the elder with legal aid, coordinating with law enforcement, or setting up financial protections. If the elder has the mental capacity to make their own decisions and declines help, APS generally cannot force services on them. That reflects the legal principle that competent adults keep the right to make their own choices, even risky ones.

If a criminal case follows and results in a conviction, the court can order the offender to pay restitution. In federal cases, the U.S. Probation Office gathers financial loss information before sentencing, and the victim can submit a Victim Impact Statement describing the losses. A federal restitution order is enforceable for 20 years plus any period of incarceration.⁹

Steps to Take Right Away to Protect Assets

Reporting starts an investigation. Stopping the financial bleeding is a separate job, and speed matters. The CFPB has found that cases identified and reported quickly are far more likely to result in recovery, because authorities can freeze accounts before the perpetrator spends or hides the money.¹⁰

Place a Credit Freeze

If the exploiter has the elder’s Social Security number or other personal information, freeze credit with all three major bureaus (Equifax, Experian, and TransUnion). A freeze blocks new accounts from being opened in the elder’s name. It’s free, and online or phone requests take effect within one business day. It can be lifted temporarily or permanently later if legitimate credit access is needed.¹¹

Alert Investment and Bank Accounts

Brokerage firms that suspect financial exploitation of an older client can place a temporary hold on disbursements and securities transactions. Under FINRA rules, the initial hold lasts up to 15 business days and can be extended to a total of 55 business days if the firm reports the matter to a state regulator or court.¹² Anyone with an investment account should also designate a trusted contact person. Firms are required to ask, and the trusted contact receives notification if the firm places a hold on the account due to suspected exploitation. The trusted contact cannot make transactions; they’re an extra set of eyes.¹³

Joint bank accounts are a frequent tool of exploitation because either owner can withdraw everything without notice. If a joint account was set up for convenience rather than as a genuine gift, document that intent in writing. A signed statement that the arrangement is for convenience only can stop the other party from later claiming ownership. Some states offer “convenience accounts” or similar structures that give a helper access to pay bills without granting ownership or survivorship rights. An elder law attorney can advise on the best option for the specific situation.

You’re Protected When You Report in Good Faith

Worry about retaliation or a lawsuit keeps a lot of people quiet. The law addresses that directly. In most states, anyone who reports elder abuse in good faith is immune from civil liability arising from the report, and the reporter’s identity is generally kept confidential unless a court proceeding requires disclosure or the reporter consents.

Financial professionals get an added layer under the Senior Safe Act. An employee at a bank, credit union, broker-dealer, or insurance company who has completed the required training cannot be held liable for disclosing suspected exploitation of a senior citizen to a government agency, provided the disclosure was made in good faith and with reasonable care. The immunity extends to the institution itself if it trained staff before the disclosure.¹⁴ Long-term care facilities that retaliate against employees who report elder abuse risk exclusion from federal funding.¹⁵

Many states also designate certain professionals as mandatory reporters, most often law enforcement officers and medical personnel, and in many states social workers, clergy, and financial professionals as well. Penalties for failing to report vary and can include misdemeanor charges, fines, and jail time.

Getting the Money Back

Recovery is hard, but it happens, particularly when the exploitation is caught early. Losses from debit or credit card misuse are often easier to recover because those transactions leave digital trails and financial institutions have established chargeback processes.¹⁰

In federal criminal cases, the court can order the offender to repay what was stolen. Victims who want the order to reflect their full losses should complete a Victim Impact Statement through the Criminal Division’s Victim-Witness Liaison. After the judge enters the order, victims can request an Abstract of Judgment from the court clerk and, when properly recorded under state law, use it to place a lien against the offender’s property to collect on their own.⁹

Civil lawsuits offer another path. An elder or their representative can sue for breach of fiduciary duty, conversion of assets, fraud, or unjust enrichment. Courts can order the return of stolen funds, and many states allow additional damages and attorney’s fees in elder abuse cases. For elders who can no longer manage finances safely, a family member or other interested party can petition the court for guardianship or conservatorship. A court-appointed guardian or conservator reports to the court and is typically required to post a bond or place the elder’s funds in protected accounts that require court approval for withdrawals.

Whether the route is criminal restitution, a civil suit, or both, moving fast matters. Perpetrators who have time to spend, transfer, or hide assets are much harder to collect from later.

1
National Credit Union Administration. Interagency Statement on Elder Financial Exploitation
2
Administration for Community Living. Power of Attorney Revocations 101
3
HHS.gov. How Do I Report Elder Abuse or Abuse of an Older Person or Senior
4
ACL Administration for Community Living. Long-Term Care Ombudsman Program
5
Office for Victims of Crime. National Elder Fraud Hotline
6
Internet Crime Complaint Center. Elder Fraud
7
Federal Trade Commission. ReportFraud.ftc.gov
8
Consumer Financial Protection Bureau. Submit a Complaint
9
Department of Justice: Criminal Division. Restitution Process
10
Consumer Financial Protection Bureau. Recovering From Elder Financial Exploitation – A Framework for Policy and Research
11
USAGov. How to Place or Lift a Security Freeze on Your Credit Report
12
FINRA. Frequently Asked Questions Regarding FINRA Rules Relating to Financial Exploitation of Seniors
13
FINRA. 2023 Report on FINRAs Examination and Risk Monitoring Program – Trusted Contact Persons
14
Office of the Law Revision Counsel. 12 USC 3423 – Immunity From Suit for Disclosure of Financial Exploitation of Senior Citizens
15
Administration for Community Living. The Elder Justice Act