Elder & Community Protection: Standing Guard for the People Who Matter Most
Financial scams don’t always start online. Many begin with a friendly phone call, a polite knock on the door, or a new face offering to “help.” At GBC Bank, we believe looking out for one another is part of being a good neighbor. Here’s how to recognize financial exploitation, support loved ones, and spot common local scams before they cause harm.
1. Understanding Elder Financial Exploitation
Elder Financial Exploitation (EFE) happens when someone misuses or steals money or property from an older adult. Sometimes the culprit is a stranger - but too often, it’s someone the victim knows and trusts. That’s what makes this crime so painful and hard to detect.
Watch for warning signs like:
- Sudden, unexplained withdrawals or wire transfers
- Unpaid bills when funds should be available
- A new “friend,” caregiver, or relative taking sudden control of finances
- Changes to powers of attorney, account ownership, or mailing addresses
If something doesn’t feel right, it probably isn’t. Approach the situation gently and involve a trusted banker, attorney, or family member. The goal is to protect, not accuse.
2. Resources for Caregivers and Families
Knowing where to turn can make all the difference. These national and local resources offer confidential guidance and next steps:
- AARP Fraud Watch Network: A free helpline at 877-908-3360 for anyone who suspects financial exploitation or needs advice on spotting scams.
- Adult Protective Services (APS): Each state and county has an APS office that investigates reports of elder abuse. You can find your local agency through the Eldercare Locator at 800-677-1116.
- GBC Bank team: Our bankers can help review account activity, freeze suspicious transactions, or connect you with law enforcement and support agencies. We handle concerns with compassion and confidentiality.
Even a short conversation can prevent a serious loss. Encourage open dialogue about money and digital safety with older relatives - before a crisis arises.
3. Common Community Scams to Watch For
Fraud isn’t limited to phone calls and emails. It often shows up in our neighborhoods. Here are a few local schemes making the rounds:
Contractor and Home-Repair Scams
A so-called contractor offers a “today-only deal,” requests payment upfront, and then disappears. Legitimate professionals will always provide written estimates, proof of insurance, and required permits. When in doubt, get multiple bids and pay only after work begins.
Door-to-Door Solicitations
Whether it’s a product, charity, or service, don’t feel pressured to decide on the spot. Ask for printed information, verify the organization online, and never share personal details at the door.
Fake Charities and Donation Drives
After storms or during holidays, scammers mimic real charities with similar names or look-alike websites. Before giving, check groups on Charity Navigator, BBB Wise Giving Alliance, or Charity Watch. Real charities won’t demand cash, gift cards, or cryptocurrency.
Together, We Keep Our Community Safe
Protecting vulnerable neighbors takes all of us - families, caregivers, and local institutions working hand-in-hand. At GBC Bank, we monitor fraud trends, support caregivers with resources, and remain a phone call away when something feels off. If you ever suspect financial abuse or encounter a suspicious offer, contact us right away.
Because in a true community, looking out for one another is the best kind of security.
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