Stand Against Elder Abuse & Fraud
Raising Awareness, Preventing Fraud, Protecting Our Elders
Every year on June 15, communities across the world observe World Elder Abuse Awareness Day, a time to recognize and prevent the mistreatment and exploitation of older adults.
Elder abuse is often hidden. Often occurring behind closed doors or going unreported, but its impact is profound. 1 out of 6 older adults aged 60+ experience abuse, though experts believe the true number is much higher due to underreporting. [who.int]
Financial exploitation, in particular, is a growing concern. Older adults lose billions of dollars annually to scams and fraud, with criminals increasingly targeting seniors through sophisticated and deceptive tactics. [ncoa.org]
These aren’t just statistics, they represent real people: parents, grandparents, neighbors, and friends who deserve safety, dignity, and respect.
Understanding Elder Fraud
Elder fraud is a form of financial exploitation that often involves deception, manipulation, or impersonation to steal money or personal information. These crimes can have devastating effects, draining life savings, creating emotional distress, and undermining independence.
Fraudsters often target older adults because they are perceived as more trusting, financially stable, or less familiar with evolving technology and scams.
Common Elder Fraud Tactics to Watch For
Being informed is one of the best defenses. Here are some of the most common scams targeting older adults:
Imposter Scams
Criminals pretend to be someone trustworthy, such as a government official, bank representative, tech support agent, or even a family member in distress, to request money or sensitive information.
Tech Support Scams
Scammers claim there is an issue with a computer or device and ask for remote access or payment to “fix” the problem.
Lottery & Prize Scams
Victims are told they’ve won money or prizes but must pay fees or taxes upfront to claim them.
Romance & Confidence Scams
Fraudsters build emotional relationships online and then request money, often exploiting loneliness and trust.
Investment & Financial Scams
Fake investment opportunities promise high returns with little risk, often involving cryptocurrency or unfamiliar ventures.
Medicare & Health Insurance Scams
Scammers pose as healthcare representatives to steal personal or billing information.
How You Can Help Prevent Elder Abuse & Fraud
- Stay connected with older loved ones and check in regularly
- Encourage healthy skepticism of unsolicited calls, emails, or messages
- Never share personal or financial information with unknown contacts
- Report suspicious activity to financial institutions or authorities
- Educate others, awareness is a powerful tool
Wear Purple on June 15
One simple yet meaningful way to show support is by wearing purple on June 15.
Purple symbolizes dignity, respect, and justice for older adults and is the international color of World Elder Abuse Awareness Day.
Bank of Labor is committed to keeping our customers safe and that includes protecting our seniors. Join us in raising awareness and stand in solidarity against elder abuse and fraud.
Together, we can build safer communities where older adults are valued, protected, and empowered.