AARP Pennsylvania Highlights Financial Exploitation as a Form of Elder Abuse

Harrisburg, PA – As World Elder Abuse Awareness Day approaches on June 15, AARP Pennsylvania is drawing attention to one of the most prevalent yet underreported forms of abuse: financial exploitation. This type of elder abuse can lead to significant loss of one’s savings, independence, and security—and it often goes unnoticed and unreported until it’s too late.

“Financial exploitation is a silent threat that can devastate lives,” said Mary Bach, AARP Pennsylvania Volunteer and Chair of its Consumer Issues Task Force. “It’s not just about stolen money—it’s about stolen trust, dignity, and peace of mind. We all have a role to play in protecting those we care about.”

Financial exploitation involves the unauthorized or improper use of an older adult’s assets—whether it’s through misuse of power of attorney, coercion to sign financial documents, or outright theft. In many cases, the abuser is a trusted person, such as a family member, caregiver, or friend. Scams by strangers also contribute to financial loss but are distinct from abuse that occurs within a relationship of trust.

“Too often, financial exploitation is discovered only after significant damage has been done,” said Bach. “That’s why education and early detection are so critical. We want Pennsylvanians to know what to look for and where to turn for help.”

AARP Pennsylvania urges individuals to be alert to the warning signs of elder financial abuse, including:

• Sudden changes in bank accounts, banking practices, or spending habits
• Missing belongings or valuables
• Unexplained changes to wills, deeds, or power of attorney
• A caregiver or relative preventing access to financial information
• An older adult reporting financial exploitation

Inquire about large withdrawals and unpaid bills and make sure there are no questionable credit card charges. Stop any bank transfers or recurring transactions the account holder does not recall making. It’s not uncommon for older individuals to forget things from time to time, but major financial dealings they have no memory of requesting or authorizing, or that they have difficulty explaining, should set off alarm bells.

Report financial exploitation to local law enforcement. For help from AARP, call 1-877-908-3360 or visit the AARP Pennsylvania Fraud Resource Page at aarp.org/pafraud.