World Elder Abuse Awareness Day

June 15 marks World Elder Abuse Awareness Day, launched by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations. Organizations around the world are planning to mark the date - from barbecues to workshops and more.  

The Austin Bank offers the following tips for stopping elder financial abuse in its tracks.

• Plan ahead to protect your assets and to ensure your wishes are followed. Talk to someone at your financial institution, an attorney, or financial advisor about the best options for you.
• Carefully choose a trustworthy person to act as your agent in all estate-planning matters.
• Lock up your cheque book, account statements and other sensitive information when others will be in your home.
• Never give personal information, including Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.
• Never pay a fee or taxes to collect sweepstakes or lottery 'winnings'.
• Never rush into a financial decision. Ask for details in writing and get a second opinion.
• Consult with a financial advisor or attorney before signing any document you don't understand.
• Get to know your banker and build a relationship with the people who handle your finances. They can look out for any suspicious activity related to your account.
• Check references and credentials before hiring anyone. Don't allow workers to have access to information about your finances.
• Pay with cheques and credit cards instead of cash to keep a paper trail.
• You have the right not to be threatened or intimidated. If you think someone close to you is trying to take control of your finances, call your local Adult Protective Services [or local police] or tell someone  at your bank.