Elder Financial Abuse Preventing

Falling victim to financial abuse can be stressful and scary. As the senior population continues to grow in our country, elder abuse will likely grow with it. Sadly, during hard economic times the prevalence of financial exploitation increases. This type of crime is preventable, and FineMark has compiled a list of ways to protect yourself:

• Never give your Social Security number, account numbers or other personal financial information over the phone unless you initiated the call.

• Don’t open e-mails from unknown sources.

• Beware of any notice claiming you have won a lottery.

• Shred receipts, bank statements and unused credit card offers.

• Review your monthly accounts regularly for unauthorized charges.

• Report lost or stolen checks immediately.

• Order copies of your credit report once a year and only use Equifax, Experian, or Transunion to generate these reports.

• Lock up your checkbook, account statements and other sensitive information when others will be in your home.

• Do business with companies you know are reputable.

• If a stranger is sending a payment to you, insist on a check for the exact amount. Never accept a check for more and wire the difference back.

• Never let someone pressure you into agreeing to loan terms before you’ve had a chance to review them in writing with a trusted advisor.

• Report any unusual account inquiries you receive – whether by phone or e-mail – to your bank, who will take measures to protect your account.

• Carefully choose trustworthy people or a professional fiduciary to act as your agent in all estate planning matters.

FineMark provides personal and business banking services, investment services, and trust and fiduciary services. We are located on The Island. Since opening our Shell Point office in 2009, we have come to know many of the residents, and we are honored to serve this great community. As always, call (239) 461-5999, or stop by the FineMark Office on The Island if you have any financial needs, concerns or questions. We are always happy to help.