Elder financial abuse

Older citizens are typically more vulnerable to scams, fraud and other forms of financial abuse. Below is some information to help you understand how to protect yourself from this kind of abuse.

Forms of elder abuse

  • Abusing power of authority
  • Frauds and scams
  • Improper use of funds
  • Theft
  • Failure to provide promised care
  • Emotional blackmail

Identifying the signs of elder financial abuse

  • You permit someone to access your account and unexplained transactions begin to occur.
  • You are missing bank statements or the information in your bank statements doesn't make sense.
  • Someone who does not have the authority over your money accompanies you to the bank to make a withdrawal.
  • Someone completes financial documents on your behalf and without your knowledge.
  • Someone treats you in a way that is threatening or controlling.
  • You have unusual or unknown transactions appear on your account.

Tips for avoiding scams and fraud

  • Hang up on suspicious phone calls, even if the caller claims to be from a reputable company. Call back from a trusted number on the company website.
  • No reputable company or government department will ever ask you to provide your credit card information (PIN, expiry date), or account credentials over the phone.
  • If you receive a suspicious SMS, email, or phone call, do not provide any personal details or click on any links.
  • Do not share your passwords or personal information.
  • Ensure you have up-to-date anti-virus software on your computer.
  • Refrain from sending money or personal information to people from unusual locations.
  • When online shopping, ensure that you only complete your purchase from secured websites. Secure addresses start with 'https' or have a padlock symbol at the front.
  • Refrain from swiping your card when buying something. Inserting or tapping your card is typically more secure.
  • If you are travelling, ensure you tell your bank or provider the dates you are travelling and the dates you will be visiting.

Security Centre

You can find out more important information that will help you stay safe by visiting our Citi Security Centre.

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