Finanical Abuse

North Central Health Care Wausau Campus

Recognizing and Preventing Financial Abuse in Older Adults

Financial abuse is one of the fastest-growing forms of elder abuse, and its impact is devastating. In 2023 alone, seniors in Wisconsin lost over $46 million to scams, exploitation, and financial fraud.

During World Elder Abuse Awareness Week, we’re highlighting Financial Abuse—an often invisible threat that robs older adults not only of money but of independence, dignity, and peace of mind.

What Is Financial Abuse?

Financial abuse involves the illegal or improper use of an older adult’s funds, property, or assets. It can include:

  • Theft or unauthorized withdrawal of money

  • Coercing someone to sign financial documents

  • Misuse of power of attorney

  • Fraudulent scams, identity theft, or investment schemes

  • Digital and crypto-based fraud using AI

Common Scam Types (Wisconsin DFI 2025):

  • Fraud (40.2%)

  • Identity Theft (17.5%)

  • Other scams (42.6%), often using technology or impersonation

Local Impact

In Marathon, Lincoln, and Langlade Counties alone, Adult Protective Services has already investigated 38+ financial abuse cases in 2025, with estimated losses exceeding $1.4 million.

Who’s Helping?

The Wisconsin Financial Abuse $pecialist Teams (FA$Ts) are collaborative, multidisciplinary teams made up of law enforcement, prosecutors, financial institutions, elder law experts, Adult Protective Services, and others. Their mission:

To prevent financial abuse and improve systems that support vulnerable adults.

If you suspect financial abuse—or if you’re a caregiver, professional, or financial institution that wants to help—connect with your local FA$T team through your county’s Aging and Disability Resource Center (ADRC) or Adult Protective Services.

How You Can Help:

  • Check in regularly with older family, friends, or clients.

  • Educate loved ones about scams and suspicious behavior.

  • Report concerns to Adult Protective Services or your local law enforcement.

  • Encourage financial transparency and safeguards (e.g., trusted contacts, second signature rules).

Elder financial abuse is often hidden—until it’s too late. Awareness is the first step in prevention.