With all of the news lately surrounding allegations of financial exploitation involving vulnerable adults, it’s more important than ever to be on the lookout for this type of abuse among our loved ones. Often subtle and difficult to detect, financial exploitation can happen to anyone — but older adults and individuals with cognitive or physical challenges are being targeted at an alarming rate.

Whether it’s a distant relative, an overly helpful “new friend,” a stranger on the internet, or even a trusted caregiver, financial abusers often target those who are isolated, dependent on others, or less familiar with managing finances. As North Dakota’s population continues to age, raising awareness about these warning signs becomes not just a legal concern, but a moral one.

What Is Financial Exploitation?

Financial exploitation occurs when someone misuses or takes the assets of a vulnerable adult for their own benefit. This might include unauthorized use of checks or credit cards, coercing someone into signing financial documents, or outright theft of money or property, in more advanced cases.

Common Warning Signs

Financial exploitation often goes unnoticed until significant damage has been done. Here are some red flags to be aware of:

• Sudden changes in banking behavior: Large withdrawals, new joint accounts, or an unexplained lack of funds.
• Unpaid bills or shut-off notices: Despite adequate income or savings.
• New or unusual relationships: A caregiver, friend, or family member showing excessive interest in the person’s finances.
• Missing possessions or valuables: Jewelry, credit cards, or cash disappearing without explanation.
• Isolation from friends or family: The exploiter may try to limit access to the vulnerable adult.
• Changes in wills, titles, or powers of attorney: Especially if they seem out of character or were made under suspicious circumstances.

Who Is At Risk?

While anyone can fall victim to financial abuse, certain factors increase the likelihood:

• Cognitive decline (e.g., Alzheimer’s or dementia).
• Physical disabilities that require help managing day-to-day activities.
• Social isolation (this can be caused by the alleged exploiter or due to the practical realities of the situation with the vulnerable adult).
• Grief following the loss of a spouse or major life change.
• Lack of financial literacy

Recognizing these risk factors can help families and professionals intervene early.

What You Can Do: Prevention And Protection

Being proactive is key. Here are some steps you can take to help safeguard your loved ones:

• Stay involved: Regular check-ins, both in person and by phone, can deter would-be abusers.
• Encourage transparency: Help manage finances through joint access or oversight (without removing autonomy). Money is a hard thing to discuss with loved ones. But frequent discussions are one of the best ways to catch financial exploitation early. Please note the financial exploitation cases that make the news have likely been going on for years and the vulnerable adult almost never gets all (or sometimes any) of their money back.
• Educate: Talk about common scams and manipulation tactics, especially those targeting older adults.
• Set up safeguards: Use automatic bill pay, monitor accounts, and work with a trusted financial advisor or attorney.
• Keep records: Clear and accessible documentation of financial transactions helps spot irregularities early.

If You Suspect Financial Exploitation

It’s important to trust your instincts. If something feels “off,” take action — even if it’s just starting a conversation. Also, if you think the vulnerable adult is in danger or is under threats of violence, call 911.

In North Dakota, you can report suspected financial exploitation of a vulnerable adult to:

North Dakota Vulnerable Adult Protective Services (VAPS)

• Phone: 1-855-462-5465 (Press 2)
• Online: https://www.nd.gov/dhs/services/adultsaging/vulnerable.html

This statewide program investigates reports and helps protect adults from abuse, neglect, and exploitation.

North Dakota Aging And Disability Resource (ADRL)

• Phone: 1-855-462-5465
• Website: https://carechoice.nd.assistguide.net

ADRL connects North Dakotans with local services, including legal help, financial planning resources, and caregiver support.

North Dakota Guardianships And Conservatorship

Sometimes with suspected financial exploitation, it is important to remedy the situation from multiple fronts. Just as important as remedying the current situation is ensuring that it does not happen again. In the context of scams or multiple financial exploitations of one person, this can mean helping the vulnerable adult to secure any of their remaining property. This can be achieved through a guardianship/conservatorship. A guardian/conservator can help make sure any assets remain safe by ensuring they are appropriately protected by changing accounts, tracking down old payments and having more supervision over the vulnerable adult’s day-to-day finances.

Conclusion

Financial exploitation is a growing issue that affects some of the most trusting and vulnerable among us. By staying informed, involved, and proactive, families and communities can take steps to prevent abuse and protect those who may not be able to protect themselves Whether you’re a caregiver, relative, friend, or concerned neighbor — if you suspect abuse, speak up.

As a guardianship/conservatorship attorney, I am dedicated to advocating for individuals in need of help to ensure their safety and stability. Call me today at SW&L Attorneys if you suspect a loved one is being exploited.