Preventing Financial Exploitation

Older adults have always been a favorite target of criminals. Exploitation can take various forms, including scams, fraudulent investments, identity theft, coercion, or undue influence and can result in severe financial loss, jeopardizing the financial security and independence of seniors.

The senior healthcare industry is full of examples of nefarious providers taking advantage of their position of trust to coerce, influence, and steal. It’s frightening to think that the staff of a nursing home or a private home caregiver might take advantage of your own parent or grandparent, and at Nursing Referral Service, we’re passionate about protecting our clients.

This checklist from Charles Schwab provides signals that might serve as clues that your parent is being financially exploited. In addition to this advice from Schwab, also be sure every individual who has access to your loved one is thoroughly screened and vetted. A clean criminal background check is a good start, but an extensive portfolio of client references showing years of fidelity is even better.