Have you ever wondered what really happens after someone is scammed out of $25,000? Not only the steps to take after you’ve been scammed, but the psychological toll? 

A couple weeks ago, I received an email from a listener asking for help—resources for older adults who’ve been financially exploited. That email sparked this episode, and I’m so glad it did.

Today, I’m taking you behind the scenes of what it’s really like for older adults after financial exploitation. I’ll share two powerful stories—one of an 84-year-old and another of a 46-year-old—and walk you through the unconscious age biases that shape how we react to fraud victims. We’ll also talk about the common scams, the emotional fallout, and most importantly—what you can do to support healing and prevent re-traumatization.

This episode is especially close to my heart. I was invited by the Vermont Financial Elder Abuse Specialist Team to lead a workshop on this very topic, and I’ve been wanting to share it with you ever since.

If you care about protecting and uplifting older adults—this is a must-listen.

What You’ll Learn in This Episode:

• Why older adults aren’t the only ones falling for scams—and why we judge them more harshly

• How ageism quietly shows up in our reactions to fraud

• The top financial scams impacting people 60+ and how scammers manipulate trust

• The emotional timeline of recovery: from shock and shame to anger and exhaustion

• 4 major mental health effects of financial exploitation you need to watch for

• How to talk with older adults about fraud in ways that heal—not harm

• What trauma-informed support really looks like after financial betrayal

• Where to find peer support groups, prevention tools, and trusted therapists

Click here to Get your free Trauma-Informed Care Guide

Financial Exploitation Resources

• I put together A Guide for Mental Health and Aging Services Professionals to Supporting Older Adults Recovering from Financial Exploitation. Click here to download the guide

Where to Report Financial Exploitation

If you suspect elder financial exploitation:

• For immediate danger, call 911
• Adult Protective Services (APS): 1-866-552-4464
• Long-Term Care Ombudsman

If an older adult has been scammed, reporting fraud can help prevent future crimes.

• Federal Trade Commission
• FBI Internet Crime Center
• Adult Protective Services (APS): 1-866-552-4464

For older adults in nursing homes or assisted living, report concerns to:

• Long-Term Care Ombudsman
• Health Care Facilities Regulation: 1-800-878-6442

Find a Therapist Who Specializes with Older Adults

We’re making it easier for older adults to find a therapist specialized in working with older adults with our National Provider Directory

Resources Mentioned:

• FREE Trauma-Informed Care Guide
• Older Adult Nest Egg – Self-Assessments + Resources
• Give An Hour + FINRA Fraud Support Resources
• Interview with Dr. Peter Lichtenberg on Financial Exploitation
• Podcast Episode: Trauma Informed Care with Older Adults
• Before the Diagnosis: Dementia’s Early Financial Toll

References:

• Byskov M. F. (2019). Qualitative and quantitative interpretations of the leastrestrictive means. Bioethics, 33(4), 511–521. https://doi.org/10.1111/bioe.12548
• National Council on Aging. (2024, July 17). What are the top online scams targeting older adults? Retrieved from https://www.ncoa.org/article/what-are-the-top-online-scams-targeting-older-adults
• Elder Justice Initiative (2022). Elder Justice Decision-Making Capacity Symposium: The Role of Decision-Making Capacity in Elder Justice Cases that Reach Civil and Criminal Courts.
• giveanhour.org/financial-fraud
• US. Department of the Treasury’s Financial Crimes Enforcement Network (2024, April 18). FinCEN issues analysis on elder financial exploitation. Retrieved From https://www.fincen.gov/news/news-releases/fincen-issues-analysis-elder-financial-exploitation
• Woolford, M. H., de Lacy-Vawdon, C., Bugeja, L., Weller, C., & Ibrahim, J. E. (2020). Applying dignity of risk principles to improve quality of life for vulnerable persons. International journal of geriatric psychiatry, 35(1), 122–130. https://doi.org/10.1002/gps.5228
• Wu, X., Kaminga, A. C., Dai, W., Deng, J., Wang, Z., Pan, X., & Liu, A. (2019). The prevalence of moderate-to-high posttraumatic growth: A systematic review and meta-analysis. Journal of Affective Disorders, 2