Published on June 1, 2026 | 4 min read | Webster Bank
June is Elder Abuse Prevention Month — a time to raise awareness about financial scams, cyber threats, and exploitation that increasingly affect older adults and their families.
Financial abuse can happen to anyone, but scammers often target older adults because they may be perceived as more trusting, financially stable, or less familiar with evolving digital threats. The good news is that awareness, communication, and a few practical habits can go a long way toward protecting personal and financial information.
Elder financial abuse occurs when someone improperly uses or takes an older adult’s money, assets, or personal information for their own benefit.
This can include:
In many cases, the abuse begins with a phone call, email, text message, or online interaction that appears legitimate.
Scammers may pretend to be from the IRS, Social Security Administration, Medicare, or law enforcement agencies.
They often:
Remember: legitimate agencies typically do not contact individuals demanding immediate payment by phone, text, or email.
A pop-up message, email, or caller claims there’s a virus or security issue on a computer or device.
Scammers may ask for:
Never allow unknown individuals remote access to your computer or phone.
A scammer pretends to be a grandchild or loved one needing urgent financial help.
They may:
Take a moment to pause and verify the story directly with a trusted family member.
Cybercriminals send messages that appear to come from banks, delivery companies, retailers, or government agencies. These messages may:
Be cautious of unexpected emails or texts, especially those creating urgency.
Financial abuse is not always obvious. Some signs may include:
If something feels unusual, it’s important to ask questions and investigate further.
Review bank and credit card activity frequently and report unfamiliar transactions promptly. Set up account alerts to help notify you of unusual activity.
Avoid sending money through: wire transfers, gift cards, person-to-person (P2P) payment apps to unfamiliar individuals. Using secure payment methods, such as credit cards, may offer additional protections.
Personal information shared on social media — including birth dates, addresses, travel plans, or family details — can be used by scammers to build trust or guess security questions.
Scammers often rely on fear, urgency, or emotional pressure. Taking time to verify requests can help prevent fraud.
Preventing elder financial abuse is a shared effort. Family members, caregivers, and trusted contacts can help by:
Approaching these conversations with respect and support can help preserve both independence and security.
Use this checklist to help reduce the risk of fraud and financial exploitation:
Cybercriminals and scammers continue to evolve their tactics, but staying informed can help reduce risk and protect financial well-being.
This Elder Abuse Prevention Month, take time to review your digital security habits, have conversations with loved ones, and stay alert for signs of fraud.
If you ever notice suspicious activity or receive a request that doesn’t seem right, contact your bank directly using a trusted phone number or website. We’re here to help protect you and your loved ones.
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