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Financial Abuse

SECURITY CENTER

 

Help protect your money as you age

Older adults are especially at risk for fraud and scams. Get the tools you need to plan for your future and help your loved ones do the same.

World Elder Abuse Awareness Day - Building strong support for elders

Fraud is on the rise and can be especially devastating to older adults

Older adults lose about $4.8 billion each year to financial abuse. They are often prime targets and continue to report higher individual dollar losses than younger adults do.

 

Perpetrators can be anyone, including caretakers, lawyers, business associates, new friends and even family members.

 

Learn more to help us protect you or a loved one from fraud and scams and how a financial care plan can help you stay in control of your future.

Watch out for these common scams
targeting older adults

Someone you 'know'

Scammers pretending to be from banks, government agencies or other known companies ask you to send money via gift cards, wire transfers, cryptocurrency or digital payment platforms like Zelle®.  Because the money is sent quickly, you may not be able to get it back.

 

TIP: Be cautious if you're told to take action right away. Think about what they're asking for and verify that they are who they say they are.

 

Be careful using
checks

Scammers are taking checks from the mail and rewriting them for a higher amount with a new payee or using your personal information to create counterfeit checks.

 

Learn to spot a scam

Knowing the techniques scammers use can help you stay one step ahead of them. Explore their tricks and learn how to protect yourself.

 

Get to know the
signs of financial
abuse

 

Older adults are especially at risk for financial abuse, especially by those close to them. You can help prevent this type of abuse by keeping an eye out for a few red flags.

New friendships — online or in person

 

Often, bad actors will first build a trusting relationship with the target and then try to get them to invest money in things like stocks, cryptocurrency and real estate. Be wary of new friends recommending an investment and anyone who attempts to access financial information, especially from newer friends, aides or companions.

 

Unusual financial activity

 

Signs that could point to financial abuse include unpaid bills, missing checkbooks, suspicious signatures, missing valuables and adding unexpected authorized users to financial accounts. For any of these, contact your financial institution right away.

 

Changes in ownership and responsibility

 

Sudden changes in a person’s will, estate plan or power of attorney can sometimes indicate financial abuse. If you notice changes like this, it's important to have the conversation about signs of financial abuse and offer them help if needed to report it.

 

Start protecting your future self today

 

Make a financial care plan to help protect your money from fraud and exploitation, so you can have peace of mind if something unexpected arises.

Prepare important documents

 

Finalize and organize documents like your will, power of attorney, bank statements and insurance so they’re on hand if you’re making a financial plan or if you need help.

Start the conversation

 

Share your financial goals, plans and preparations with family and/or trusted friends to help you stay in control of your money and your future.

Form a team

 

Build a team of family, friends, accountants, lawyers and social workers who can help support your future plans. You can also designate trusted contacts for your investment accounts in case you can't be reached or your financial professional has concerns.

Talk to us

 

At Chase, you have access to J.P. Morgan Wealth Management advisors who can help determine if your plans are on track. We offer a range of services to support you as your financial needs evolve over time.

 

Help us keep your account safe

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Watch out for irregular account activity

Set up alerts to easily monitor account activity. You can customize the alerts you want to receive, and set up an alert that lets you know when there is a purchase or withdrawal from your account over an amount you think is unusual.

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Watch out for irregular account activity

Set up alerts to easily monitor account activity. You can customize the alerts you want to receive, and set up an alert that lets you know when there is a purchase or withdrawal from your account over an amount you think is unusual.

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Protect your personal information

Shred sensitive documents as soon as you are done with them. You can also switch to paperless communications to help avoid becoming a victim of identity theft.

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Protect your personal information

Shred sensitive documents as soon as you are done with them. You can also switch to paperless communications to help avoid becoming a victim of identity theft.

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Use online banking to monitor your account from anywhere

Online banking on chase.com or in the Chase Mobile® app is an easy and secure way to access your accounts and keep an eye out for suspicious activity.

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Use online banking to monitor your account from anywhere

Online banking on chase.com or in the Chase Mobile® app is an easy and secure way to access your accounts and keep an eye out for suspicious activity.

Use these tips when you're online

 

DO

  • Use strong and unique passwords especially for financial accounts
  • Use antivirus software to help protect your computer from malware
  • Consider using your fingerprint or facial recognition to unlock devices
  • Update your software regularly (many updates are security upgrades)
  • Sign out of public devices
  • Use the latest browser and only download trusted apps
  • Go to official company URLs directly and look for a lock icon and "https" in your browser to confirm it's secure
  • Report suspicious calls, emails, and text messages to phishing@chase.com and the U.S. Federal Trade Commission.

DON'T

  • Post personal information online
  • Use public Wi-Fi to access financial information
  • Click on unusual links in emails or texts
  • Call back suspicious numbers

 

TIP: Use online banking and mobile banking apps to view statements, check balances, pay bills and more.

 

Explore resources for older adults to
report fraud

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AARP Fraud Watch

Call 1-877-908-3360 to be connected to trained fraud specialists and volunteers, or get more fraud and scam prevention resources at their website.

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AARP Fraud Watch

Call 1-877-908-3360 to be connected to trained fraud specialists and volunteers, or get more fraud and scam prevention resources at their website.

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Eldercare Locator

Get connected to services for older adults and their families (like health, housing, insurance and more) at this government resource. You can also speak with their specialists on the phone at 1-800-677-1116.

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Eldercare Locator

Get connected to services for older adults and their families (like health, housing, insurance and more) at this government resource. You can also speak with their specialists on the phone at 1-800-677-1116.

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National Elder Hotline

Call 1-833-FRAUD-11 (1-833-372-8311), a free resource created by the U.S. Department of Justice (DOJ).

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National Elder Hotline

Call 1-833-FRAUD-11 (1-833-372-8311), a free resource created by the U.S. Department of Justice (DOJ).

 

Other educational resources

Consumer Financial Protection Bureau

 

Get tools like Managing Someone Else's Money at this government agency that protects consumers in the financial marketplace.

 

FINRA

 

Explore essential tools for investors at the Financial Industry Regulatory Authority, a nonprofit organization that works under the supervision of the SEC.

ABA Foundation

 

Find resources like Safe Banking for Seniors at this division of the American Bankers Association, which offers information to banks to improve their communities.

SEC

 

Get the tools to make informed decisions about companies and investment professionals at the Securities and Exchange Commission, a U.S. government oversight agency that helps protect investors and promote fairness in the securities market.

 

National Adult Protective Services Association

 

This resource serves as a forum for sharing information, solving problems and improving the quality of services for victims of elder and vulnerable adult mistreatment.

Federal Trade Commission

 

Find a comprehensive list of financial scams at this government agency that helps protect consumers from deceptive or fraudulent practices.

Equal Justice Initiative

 

Get help with fraud and scam prevention at this branch of the U.S. Department of Justice that's dedicated to combating elder abuse, neglect and financial fraud and scams that target our nation's older adults.

National Center for Elder Abuse

 

Find information on government agencies, laws and other resources for your state.

Thinking Ahead Roadmap

 

Explore a guide for keeping your money safe as you age. The Thinking Ahead Roadmap will help you protect your money from scams, exploitation and costly financial mistakes by choosing someone you trust to be your financial advocate.

 

Contact us to report fraud

If you see an unauthorized charge or believe your account was compromised, let us know right away. Learn what to do and how to contact us.

 

Let's work together to help protect you and those you love

How to spot fraud and scams

 

Scammers spend their days coming up with new ways to trick us. Learn what to watch out for to help keep yourself safe.

Reporting fraud

 

If you see an unauthorized charge or believe your account was compromised, let us know right away. Learn what to do and how to contact us.

How we help protect you

 

We're always working to make your banking safer. See how we're helping to protect you and your accounts.

What you can do to help protect yourself

 

Learn safety practices and the steps you can take to help protect yourself from fraud and scams.

Frequently asked questions

Making a clear plan can help give you and your loved one peace of mind. Start by finding and organizing important documents, like wills, power of attorney, beneficiaries, tax records, insurance and asset information. You can also seek guidance from a tax and legal professional, as well as your Chase banker or J.P. Morgan advisor.

Older adults often have several qualities that scammers look for: They may have less familiarity with cybersecurity, but more willingness to pick up the phone or answer an email from a stranger — and most importantly, they often have money saved up in the bank.

The most effective way to be sure is to hang up and call back using the number on the back of your card or account statement.