Here is list of red flags that point out possible indicators of senior financial exploitation.
Erratic or unusual banking transactions, or changes in banking patterns.
An inexplicable change in investment objectives or risk tolerance.
Making investments that don’t match the customer's investment objectives or risk tolerance.
Uncharacteristic withdrawals or attempts to wire large sums of money.
Nonpayment for services.
Closing of CDs or accounts without regard to penalties.
A caregiver or other individual showing excessive interest in a seniors’ finances or assets, not allowing them to speak for themselves or seem reluctant to leave their side during conversations.
The financial institution is unable to speak directly with the elders, despite repeated attempts to contact them.
Source: "The Investor Protector" written by Attorney David P. Meyer.
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