In honor of World Elder Abuse Awareness Day on June 15, Fleetwood Bank is joining the effort to raise awareness about one of the fastest-growing forms of elder abuse: financial exploitation.

Financial exploitation is the unauthorized or improper use of someone’s money, property, or assets. It can happen through check fraud, unauthorized withdrawals, credit card misuse, online scams, or even theft—often by someone the victim knows and trusts.

Why this matters:
By 2030, more than 27% of Pennsylvanians will be over age 60, according to the Commonwealth of Pennsylvania. Now more than ever, it’s critical to educate, empower, and protect older adults from financial harm.

Know the Warning Signs:

• Sudden changes to wills or financial documents
• Unexplained withdrawals or asset transfers
• A new person making financial decisions on someone’s behalf
• Missing money or valuables
• Suspicious signatures or new accounts

Practical Tips to Help Prevent Elder Financial Abuse from the American Bankers Association:

• Secure important records: Store legal and financial documents in a locked location or safe deposit box.
• Monitor accounts regularly: Stay alert for unusual activity or changes in spending habits.
• Be cautious of unsolicited contact: Never give out personal or account information to unknown callers or emailers.
• Appoint trusted financial caregivers: Set up powers of attorney or authorized contacts through your bank.
• Consult your community banker: Our team is trained to help spot fraud, offer guidance, and protect your financial well-being.

Even well-meaning loved ones can miss red flags. That’s why family and friends should also be aware. Look out for signs of isolation, confusion about finances, or sudden involvement of strangers or new “friends” in financial matters.