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As people over 50 years old control 70%+ of the nation’s wealth, fraudsters are using new tactics to try and steal their financial information and money. Senior financial abuse is estimated to have cost victims at least $2.9 billion last year alone.

How can you protect yourself?

  • Protect your assets and ensure your wishes are followed by talking to your credit union, an attorney, or a financial Choose someone you trust as your estate-planning agent.
  • Shred receipts, bank statements and unused credit card offers before discarding.
  • Order copies of your credit report annually and review for accuracy.
  • Never give personal information, including Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.
  • Never click on any links in emails or text messages where you don’t know the sender.
  • Consult with a financial advisor or attorney before signing any document you don’t understand.
  • Get to know your credit union representative as they can help identify suspicious activity related to your
  • Check references before hiring anyone and don’t allow workers access to your financial
  • Pay with your debit or credit card instead of cash to keep a paper

If you suspect elder abuse is taking place to you or someone in your life, talk to someone you trust. This could be a family member, attorney, doctor, or even your financial institution. You can also report it to the Adult Protective Services. Locate a program near you or speak with an information specialist at 1.800.677.1116.