Elder Financial Abuse Protection

LAFCU is committed to protecting our senior members from financial exploitation, more commonly referred to as “Elder Financial Abuse.” According to the U.S. Justice Department, about 10% of adults over age 65 will experience some form of financial abuse in a given year. Here are some ways to detect, prevent, and report it.

What is It?

Elder financial abuse is any theft or embezzlement of money or other property from a person aged 65 and older. It is defined as the action of someone illegally or improperly using an elder’s money or belongings for their own personal use. Due to the sizeable savings that elders have amassed over a lifetime, they have become a desired target for criminals. They will take advantage of mental impairment, loneliness, and isolation of elders to gain access to their finances and other property. A majority of cases involve family members who take advantage of elder relatives by exploiting their family connection.

Some Warning Signs

How to Prevent Becoming a Victim

To Report Abuse

In California, call Adult Protection Services (APS) at (833) 401-0832 and when prompted, enter your 5-digit zip code to be connected to the APS in your county, 7 days a week, 24 hours a day.

Be assured that LAFCU has our members’ safety and financial well-being at heart. Our staff is trained to report suspected elder abuse to the appropriate authorities without violating their privacy.

Helpful Resources

Adult Protective Services (CA Dept of Social Services)

About Elder Abuse (US Dept of Justice)

National Elder Fraud Hotline (Office for Victims of Crime)

Video from the NCUA about Reporting Elder Financial Abuse or Exploitation