World Elder Abuse Awareness Day – June 15
Each year, June 15th is recognized as World Elder Abuse Awareness Day (WEAAD)—a global opportunity to raise awareness, spark conversations, and share resources to protect older adults from abuse, especially financial exploitation.
Elder financial abuse occurs when someone manipulates, exploits, or misuses an older adult’s money or assets. This can be done by strangers, caregivers, or even trusted family members. Unfortunately, this abuse can be devastating to a senior’s financial security. According to the FBI’s 2025 Internet Crime Report, seniors ages 60 and over made up nearly 20% of all fraud and scam complaints and suffered a whopping 37% of total losses incurred, at over $7.7 billion.
At Hawaii State Federal Credit Union, we are deeply committed to safeguarding our members and their financial well-being. Our team is trained to notice red flags, like unusual recent withdrawals or a new person accompanying an older member while handling finances at the credit union – behaviors that may identify whether a member is vulnerable or currently a victim of financial abuse. If you or your loved one is concerned about the risks of falling victim to elder financial abuse, here are some things to consider:
Secure your important financial documents and personal information.
Protect your personal information – never give your credit card, bank account, Social Security or Medicare information to anyone over the phone, text or email, especially if you did not initiate communication. Store your checkbook in a secure location and protect your debit/ATM card and PIN. Review your bank statements and credit reports regularly and immediately report any suspicious activity.
Stay alert for scams.
Scammers are becoming increasingly sophisticated, with many attempts using emotional manipulation to get you to provide money or account information. Some common scams include:
- Investment Scams: Scammers may pose as financial advisors, friends or online contacts and encourage victims to invest in fake or misleading crypto opportunities by promising high returns with little to no risk. The money “invested” will end up in the scammers’ pockets.
- Tech Support Scams: Scammers pose as legitimate technical or customer support representatives to trick individuals into believing their computer, phone or account has a serious issue such as a virus, security breach, or hacking attempt. The scammers then convince victims to provide sensitive information, such as login credentials or passwords, allowing them access to personal accounts.
- Government Scams: Scammers sometimes pose as the IRS and call to demand money for overdue or unpaid taxes. They often confuse and frighten seniors into complying through intimidation and threats. Remember that the real IRS and government agencies will never call you to demand payment or request personal information.
- Romance Scams: Be suspicious of anyone you meet online who starts asking you for money or account information. Scammers will create false identities on dating sites, socials media or messaging apps and quickly build trust and emotional connection with a victim. Never share your personal information or send money to anyone you’ve just met, even if they professed their love for you.
Be aware of signs of financial abuse.
A normally outgoing, friendly individual suddenly becoming isolated or anxious, unexplained bank withdrawals, and unusual bank activity or new accounts could be signs of a senior being financially abused.
What To Do if You Suspect Financial Abuse
If you believe you’re the victim of a scam or suspect that a loved one has been financially abused, please do the following.
- Contact Your Credit Union
Report the fraud immediately. Request a fraud alert on your account to prevent further unauthorized activity. - Review and Secure Your Accounts
Check for suspicious transactions, change your passwords and PINs, and consider freezing your credit. - File a Report
- Contact your local police department if theft or coercion is involved.
- Report scams to the Federal Trade Commission (FTC) at reportfraud.ftc.gov
If you have questions or need assistance, call Member Service Call Center at (808) 587-2700 on Oahu and U.S. Toll-Free (888) 586-1056 or visit our Fraud Alerts page for the latest news and fraud prevention tips.
