How to avoid financial exploitation

There are steps that can be taken to reduce the risk of financial exploitation.

• Have your pension income deposited directly to your financial institution.
• Keep only a small amount of money in the house.
• Be discreet when discussing your projects, property and valuables.
• Make sure you fully understand any document before you sign it.
• Never give the personal identification number (PIN) assigned to your ATM card to anyone.
• Have an IOU made up and signed before a witness before finalizing a loan to a third person.
• Make a will and get the advice of a competent person to ensure it is written correctly.
• Designate a reliable person to make decisions on your behalf in the event you become unable to manage your own affairs with a Mandate in Case of Incapacity.
• Keep abreast of your finances and make the decisions regarding your own affairs.
• Reduce your withdrawal limits and transfer a portion of your assets to a savings account.

Most importantly, be cautious if someone close to you asks you for money or promises to take care of you in return for your house.

If you are a family member or a close friend

• Stay in close contact with the elderly person.
• Don't hesitate to discuss the choice of the person who will be responsible for his or her finances in the event of incapacity.
• Stay vigilant and, if you suspect anything, offer assistance or information about financial exploitation.
• Above all, always act in accordance with the elderly person's wishes and with respect for his or her right to secrecy and privacy.