Blog post

According to the Consumer Financial Protection Bureau, suspicious activity tied to elder financial exploitation typically occurs over an average of four months before it’s detected.

That means what begins as a small request or a simple transaction can gradually grow into something much more serious.

How Financial Exploitation Often Begins

It might start with a phone call designed to create urgency, a request for help from someone familiar, a series of small withdrawals or transfers, or a new person becoming involved in financial decisions.

In many cases, the person behind the activity isn’t a stranger. Data shows that losses are often higher when the older adult knows the person involved— sometimes averaging around $50,000 per case. That’s what makes these situations so difficult: they’re built on trust.

What These Transactions Often Look Like

Most cases involve money transfers. At first glance, these transactions can appear ordinary which makes them difficult to spot. Even when noticed, it often goes unreported. In fact, fewer than one-third of cases are reported to authorities, allowing situations to continue longer than they should.

Pause. Ask. Protect.

Here’s a simple idea that can help prevent fraud:

Pause
Encourage your loved ones to take a moment before acting — especially when something feels urgent.

Ask
If something feels off, talk it through with someone you trust or your credit union. A quick conversation can prevent a costly mistake.

Protect
Financial fraud can often be avoided by slowing the situation down and knowing what warning signs to watch for.

At MembersAlliance, we understand that these situations can be complex and deeply personal. We’re here to help you ask questions, take a closer look, and protect what matters most.

*Source: Consumer Financial Protection Bureau, Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends