When a loved one with dementia becomes secretive about money, it can be a warning sign of hidden scams or financial exploitation. Dementia affects memory and judgment, making individuals vulnerable to manipulation by strangers or even trusted people like family members or caregivers. Recognizing and uncovering these scams requires careful observation and proactive steps.
One of the first signs to watch for is **unexplained changes in financial behavior**. This might include sudden withdrawals from bank accounts, missing money or valuables, unpaid bills despite having sufficient funds, or unusual charges on credit cards. Another red flag is **unexpected changes to legal documents** such as wills, powers of attorney, or beneficiary designations. These changes may be made under pressure or without the full understanding of the person with dementia[1][4][6].
Secretiveness itself is a concern. If your loved one suddenly avoids discussing finances, hides bank statements, or refuses help managing money, it could indicate they are being manipulated or coerced. Sometimes, scammers pose as relatives in distress, government officials, or charity representatives, pressuring the person to send money or share personal information over the phone. People with dementia may forget these conversations or feel intimidated, making them easy targets for telephone scams[3].
To uncover hidden scams, start by **monitoring financial accounts regularly**. Look for unusual transactions or withdrawals and keep track of bills and payments. It helps to have joint access to bank accounts or set up trusts with oversight provisions to protect assets. Limiting who has access to important documents and passwords is also essential[3][4].
Pay attention to **changes in behavior or mood** that might suggest stress or fear related to finances. Isolation from family or friends, sudden withdrawal, or reluctance to discuss money matters can be signs of coercive control or abuse. Sometimes, a new “best friend” or caregiver who shows excessive interest in finances may be exploiting the person[4][8].
If you suspect financial exploitation, involve professionals such as elder law attorneys who can review documents and advise on legal protections. Contacting local law enforcement and financial institutions promptly can help freeze accounts and prevent further loss. Early intervention is critical because financial abuse often goes unreported due to shame, confusion, or fear[1][4].
In addition, educating yourself and your loved one about common scams targeting seniors with dementia can reduce risk. Encourage your loved one never to share personal information over the phone and to verify identities by calling back trusted numbers. Installing call blockers or spam filters can also help prevent scam calls[3].
Being vigilant, maintaining open communication, and involving trusted professionals are key steps to uncover and stop hidden scams when a loved one with dementia is secretive about money.
Sources
https://frankkraft.com/resources/frequently-asked-questions/financial-exploitation-of-seniors/
https://www.dispartilaw.com/blog/identify-signs-nursing-home-abuse/
http://www.citizenscrimewatch.org/scams-targeting-alzheimers-patients-and-their-families-how-to-recognize-and-protect-against-exploitation
https://www.greensladecronk.com/blog/2025/11/types-of-nursing-home-abuse/
https://www.pittcountync.gov/901/Elder-Abuse-Prevention
https://www.compass.info/featured-topics/coercive-control/understanding-coercive-control-as-elder-abuse/
