Behavioral Red Flags
An elderly member repeatedly looks to a companion before answering questions.
What is a possible sign of undue influence or coaching?
A member who normally maintains a $500 balance suddenly wires $15,000 overseas.
What is unusual activity requiring further review?
A caller claims to be a grandchild who was arrested and needs money immediately.
What is a grandparent scam?
An elderly member cannot explain a $25,000 wire, a caregiver is answering all questions, and the transaction is highly unusual. What should happen immediately?
What is immediate escalation
True or False: Elder financial exploitation always involves a stranger.
False. Many cases involve family members, caregivers, or trusted individuals.
A member becomes reluctant to discuss a transaction once a companion approaches the teller line and begins listening to the conversation.
What is possible intimidation or undue influence?
Payments to unfamiliar or unrelated parties.
What is account activity that may indicate exploitation when recurring bill payments are replaced with large checks payable to unfamiliar individuals.
In this scam, a caller claims the member's bank account has been compromised and instructs them to move funds to a "safe account."
What is a bank impersonation scam?
You have concerns but no proof of exploitation.
What is "escalate anyway"?
We are not expected to prove exploitation. We are expected to identify concerns and escalate.
True or False: If a member appears intimidated or pressured, staff should document their observations and escalate concerns.
True.
A member appears confused about why they are withdrawing $8,000.
What is a red flag requiring additional questioning?
This is Tom's favorite meal, a "death row" meal if you will.
What is - One of everything please! The limit does not exist.
Someone online says they love the member and needs money for an emergency.
What is a romance scam?
This should occur even if the member insists everything is fine, when staff observe coercion, intimidation, or suspicious account activity.
What is escalation of concerns for further review?
True or False: A transaction cannot be suspicious if the member authorized it.
False. Exploitation often involves coercion, manipulation, or undue influence.
This red flag occurs when a member who has historically handled their finances independently suddenly appears unable to answer basic questions about their accounts.
What is a sudden change in financial awareness or independence?
This red flag occurs when funds are withdrawn shortly after a new power of attorney, joint owner, or authorized signer is added to the account.
What is suspicious activity following a change in account authority?
A member is convinced to invest in cryptocurrency after being promised guaranteed returns and little risk.
What is an investment or cryptocurrency scam?
When documenting a suspected exploitation event, staff should record transaction details, observations, and this important information.
What are the member's statements and explanations?
True or False: A sudden change in beneficiaries or account ownership can be an elder financial exploitation red flag.
True.
Staff should be concerned when a member repeatedly states they must complete a transaction today because someone told them there is "no time to wait."
What is a sense of urgency or pressure tactic?
An elderly member purchases $5,000 in gift cards immediately after receiving a phone call.
What is a likely scam indicator?
This scam often begins with an email or text claiming the member has won a prize but must first pay fees or taxes.
What is a lottery or sweepstakes scam?
This is the name of Emily's Cat
William Milo (but we call him Bubba)
"If the member insists on proceeding, staff should never ask additional questions."
False. Staff should ask reasonable questions and escalate concerns when appropriate.