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.
Fraud is on the rise and can be especially devastating to older adults
Older adults lose about $28.3 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
Computer virus
Scammers may pose as technical support representatives to gain access to the target's computer. If successful, they may request payment, install harmful software, change settings or steal their financial information.
TIP: Never give anyone remote access to your computer unless you can 100% verify who 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.
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.
See the Financial Caregiving Guide
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
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 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/Enable multi-factor authentication where available
- 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
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.
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.
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.
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.
National Elder Hotline
Call 1-833-FRAUD-11 (1-833-372-8311), a free resource created by the U.S. Department of Justice (DOJ).
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 tools and resources for both banks and consumers.
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.
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.