What You Can Do To Stop Elder Abuse
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East Wisconsin Savings Bank - Lets Talk Finances

Let's Talk Finances


By Charles Schmalz
President of
East Wisconsin Savings Bank

What You Can Do To Stop Elder Abuse

Elder abuse is a growing issue across Wisconsin and the entire nation. Over the next two decades, Wisconsin's 65 and older population will increase by 72 percent. In 2017, one in nine seniors reported being abused, neglected, or exploited. Law enforcement, advocacy groups, and Wisconsin's bankers are working together to prevent financial exploitation of our state's seniors, and you can help, too! Here's how:

The U.S. Centers for Disease Control (CDC) defines elder financial abuse as "the illegal, unauthorized, or improper use of an older individual's resources by a caregiver or other person in a trusting relationship, for the benefit of someone other than the older individual." Common examples include forgery, misuse or theft of money or possessions, and use of coercion or deception to surrender finances or property. 

Keep a close watch on your elderly family members and friends and look for signs such as unusual spending or withdrawal patterns, frequent purchases of unusual or out-of-character items, unpaid bills and/or utilities being turned off, or the presence of a new "best friend" who is accepting generous "gifts" from the older adult.

Unfortunately, in most cases the abuser is someone the elderly person knows and trusts. Many times the perpetrator is a family member. They may express feeling that the elderly person's belongings are rightfully theirs. The abuser may have financial difficulties such as a tendency to gamble. They may also express fears that the victim will "use up" all of their savings and deprive the perpetrator of an inheritance. Non-relatives may move from community to community in order to avoid detection. They may also try to gain access to elderly persons by masquerading as a counselor or by finding a job as a caretaker. 

Elderly persons who are most at risk are lonely, isolated, unfamiliar with financial matters, and may have lost someone recently or have mental or physical disabilities. 

By using the information above to identify possible elder financial and reporting it to the authorities, you can help stop or prevent this injustice.

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Our mailing address is:
109 W. 2nd St.
Kaukauna, WI 54130