Elder financial abuse is precisely what it sounds like - a crime involving the misuse of an older person's funds or properties for selfish benefits, aiming to rob them of their resources through theft or undue influence. There are several ways to prevent financial elder abuse.

One effective method to prevent financial elder abuse is to avoid leaving essential documents in the open or in easily accessible areas of the house. It is a good idea to carefully store crucial documents in a secure box or a private area. Additionally, consider shredding any sensitive documents that are no longer in use, such as old credit cards.

Another crucial tip for preventing financial elder abuse is to refrain from sharing personal data with strangers. Older individuals should avoid giving sensitive information like Social Security numbers, bank account numbers, or other financial data to fraudsters who often attempt to obtain such information over the phone. It's important to note that reputable financial institutions will not call to request such information over the phone. Moreover, avoid signing any blank checks for any reason, as this is one method unscrupulous individuals use to defraud older adults of their funds.