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Unfortunately, nobody is immune from the threat of financial exploitation, and older adults not accustomed to modern technology are being targeted more than ever.

Across the country, financial institutions have reported over 180,000 suspicious cases involving elder abuse, totaling more than $6 billion in potential or actual losses.*

What makes this even more concerning is how these situations unfold. Many cases don’t happen all at once. They build over time, sometimes over months, before being detected – and some go completely unreported. In many cases, the person responsible is someone the victim knows and trusts.

If you are even a little bit suspicious of a letter, e-mail or request for information, stop yourself and do the following before you respond:

Pause

If something feels urgent or unusual, take a moment. Pressure is one of the most common tactics used in financial exploitation. Don't rush yourself into a decision you could soon regret.

Ask

If something feels off, talk it through with someone you trust or your credit union. Does this feel right? Am I being taken advantage of? A quick conversation can prevent a costly mistake.

Protect

Never share account details or sensitive data unless you’re completely confident it’s safe. Add businesses to your contact book so you don't have to guess if it's legitimate when they e-mail or call.

At Cinfed, we believe in protecting your financial well-being. We will never contact you to ask for personal information, so don't share it unless YOU initiate the communication. Read the rest of our Fraud Prevention Fundamentals at cinfed.com/fraud.

If something doesn’t feel right, trust that instinct and email [email protected]. We’re here to help you protect what matters most.

_{*Source: Consumer Financial Protection Bureau, Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends}