Financial exploitation in nursing homes: Protecting our elders

On Behalf of | Jun 13, 2024 | Blog

Financial exploitation is a serious problem in nursing homes. It involves the illegal or improper use of an elderly person’s funds, property, or assets. It is important to understand this issue and take steps to prevent it.

Common forms of financial abuse

Financial abuse is not always as directly visible as physical abuse, so it’s important to know the signs. A common way financial exploitation happens is through the misuse of bank accounts. Caregivers or staff might take money from an elderly person’s account without permission. They might also use the person’s credit cards for their own purchases. In some cases, they might even convince the elderly person to give them money or expensive gifts.

Another form of financial abuse involves property. This can include selling an elderly person’s home without their knowledge or forging documents to transfer ownership. Exploiters might also steal valuable items from the elderly person’s room, such as jewelry or electronics.

The impact of financial exploitation

Financial exploitation is not only illegal but also deeply harmful. It can leave elderly people without the resources they need for their care. It can also cause emotional distress, as they feel betrayed by those they trust.

How to protect elders

To protect elderly residents in nursing homes, it is important to stay vigilant. Family members should regularly check their loved one’s finances for unusual activity. Nursing home staff should receive training to recognize signs of financial abuse. 

Taking action

If you suspect financial exploitation, it is crucial to report it immediately. By working together, people can help ensure that our elderly loved ones are safe and secure in their nursing homes.


FindLaw Network