Caregiver Scams
Older adults lost over $4.85 billion to fraud in 2024 — a 46% increase — with over 147,000 FBI complaints.
Quick Answer
Caregiver scams are a form of elder financial exploitation where a caregiver illegally or improperly uses a person's funds, property, or assets, contributing to the over $3.4 billion lost by adults over 60 to fraud in 2023. (FBI IC3 2023)
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How It Works
1
A caregiver, who can be a family member or a hired professional, gains the trust of the individual needing care. This relationship provides them with direct access to the person's home, personal information, and financial documents.
2
The caregiver begins to exploit this trust for financial gain. This often starts small, such as stealing cash or valuables, but can escalate to more complex schemes.
3
The exploitation escalates to actions like misusing credit or debit cards, forging checks, or coercing the person to change legal documents like wills or powers of attorney. They may also overcharge for services, bill for hours not worked, or solicit excessive "gifts" or "loans."
4
The caregiver isolates the victim from friends and family to prevent discovery. They might control who the person speaks to, screen their mail, and create a dependency that makes the victim reluctant or unable to report the abuse.
Red Flags
- Sudden, unexplained changes in the person's financial situation, such as unpaid bills or a lack of funds for basic necessities.
- The caregiver shows excessive interest in the person's finances or assets.
- New, unfamiliar names are added to bank accounts, or there are unauthorized withdrawals and transfers.
- The caregiver isolates the individual from family and friends, preventing private conversations or visits.
- Changes are made to a will, power of attorney, or other legal documents without the person's full understanding or consent.
- Valuables, mail, or financial statements suddenly go missing from the home.
- The caregiver is overly controlling, demeaning, or verbally aggressive toward the person in their care.
What to Do If Targeted
- If you suspect immediate danger, call 911. Contact Adult Protective Services (APS) in your state to report the suspected abuse.
- Review bank and financial statements regularly for any unusual activity. Look for strange withdrawals, new credit cards, or unfamiliar signatures on checks.
- Consult with a trusted financial advisor or an elder law attorney to review legal documents and potentially set up safeguards like a daily spending limit on accounts.
- Stay connected with the individual. Visit and call often, and have private conversations to check on their well-being and financial health.
- Secure important documents such as passports, Social Security cards, bank statements, and property deeds in a locked, secure location.
- If hiring a caregiver, use a reputable, bonded agency that conducts thorough background checks on all its employees.
How to Report It
- FTC — File a fraud report with the Federal Trade Commission. This helps federal, state, and local law enforcement.
- FBI IC3 — Report internet-facilitated crime to the FBI's Internet Crime Complaint Center.
- AARP — Call the AARP Fraud Watch Network Helpline for guidance and support.
- FCC — File a complaint about phone scams, robocalls, or unwanted calls with the Federal Communications Commission.
- AARP Fraud Helpline — Call 877-908-3360 for free support from trained fraud specialists. Available to anyone, not just AARP members.
Key Statistics
- Individuals over age 60 lost over $3.4 billion to fraud in 2023, an 11% increase from 2022. — FBI Internet Crime Complaint Center (IC3) 2023 Elder Fraud Report
- The average loss per elder fraud victim in 2023 was $33,915. — FBI Internet Crime Complaint Center (IC3) 2023 Elder Fraud Report
- The FBI IC3 received 101,068 complaints from victims over the age of 60 in 2023. — FBI Internet Crime Complaint Center (IC3) 2023 Elder Fraud Report
- A study of calls to the National Center on Elder Abuse found that family members were the most frequently identified perpetrators of alleged abuse, with financial abuse being the most common type at 61.8% of cases involving a family member. — Keck School of Medicine of USC / National Center on Elder Abuse
- An estimated one in ten older adults experience some form of elder abuse annually, and the crime is considered to be significantly underreported. — U.S. Department of Justice
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Frequently Asked Questions
A caregiver scam is a form of financial exploitation where a caregiver, either a family member or a hired professional, uses their position of trust to illegally access and misuse an individual's money, assets, or property for personal gain. This abuse can range from stealing small items to orchestrating complex changes in legal documents.
Yes, family members are frequently identified as perpetrators of financial abuse. A study by the Keck School of Medicine of USC found that family members were the most commonly alleged perpetrators of financial abuse reported to the National Center on Elder Abuse resource line.
In 2023, the FBI's Internet Crime Complaint Center (IC3) received over 101,000 complaints from victims over age 60, with total reported losses exceeding $3.4 billion. This represents an 11% increase in losses from the previous year, with an average loss of $33,915 per victim.
If you suspect financial abuse by a caregiver, your first step should be to contact your local Adult Protective Services (APS) agency. You should also gather any evidence, such as financial statements, and consider contacting law enforcement. Reporting the incident to the Federal Trade Commission at reportfraud.ftc.gov is also recommended.
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