Every year on June 15, communities around the world observe World Elder Abuse Awareness Day, a time dedicated to raising awareness about the mistreatment, neglect and financial exploitation of older adults.
Elder abuse can happen to anyone, and unfortunately, it is more common than many people realize. According to the National Council on Aging, millions of older Americans experience some form of abuse each year, often at the hands of someone they know and trust. Many cases go unreported because victims may feel embarrassed, isolated or afraid.
At Chambers Bank, we believe education and awareness are important steps in protecting our loved ones and neighbors.
What Is Elder Abuse?
Elder abuse can take many forms, including:
- Physical abuse
- Emotional or verbal abuse
- Neglect
- Financial exploitation
- Identity theft or scams
Financial abuse is one of the fastest-growing forms of elder abuse. Scammers often target older adults through phone calls, text messages, emails, social media and even fake relationships designed to gain trust and access to money or personal information.
Common Signs of Financial Exploitation
While every situation is different, some warning signs may include:
- Unusual withdrawals or transfers from bank accounts
- Sudden changes to account ownership or beneficiaries
- Unpaid bills despite adequate financial resources
- New “friends” or caregivers showing unusual interest in finances
- Confusion about financial transactions
- Pressure to send money quickly or purchase gift cards
- Increased secrecy about finances
If something feels unusual, it’s important to ask questions and stay involved.
How to Help Protect Older Adults
There are several simple ways families and caregivers can help reduce the risk of financial abuse:
- Stay Connected - Regular communication can help identify unusual behavior or concerns early.
- Encourage Strong Security Habits - Remind loved ones not to share passwords, account information, secure access codes or debit card details over the phone, text or email.
- Monitor Accounts - Review account activity regularly and set up account alerts when available.
- Talk About Scams - Discuss common scams involving fake tech support, government impersonators, romance scams and urgent payment requests.
- Speak Up - If you suspect elder abuse or financial exploitation, don’t ignore it. Reporting concerns could help protect someone from further harm.
We’re Here to Help
Protecting our customers is important to us. If you or a loved one notices suspicious account activity or believes you may have been targeted by a scam, contact your local Chambers Bank branch right away.
World Elder Abuse Awareness Day is a reminder that we all play a role in looking out for older adults in our communities. By staying informed and having open conversations, we can help create a safer environment for everyone.