Hi there, and welcome back to Aging Together. This June 1, on the Aging Together Podcast, we sit down with Charles Wallace to discuss an extremely important topic: Dementia & Financial Exploitation: Who’s Responsible?

In this article, we continue that conversation by talking about something that doesn’t get nearly enough attention — awareness. Because financial exploitation in dementia isn’t rare. It’s quiet. And maybe that’s part of why it’s so dangerous.

When people think about elder abuse, they often picture the most visible forms of harm. Neglect. Physical abuse. Unsafe living conditions. Situations where there are obvious signs that something is wrong.

But financial exploitation rarely looks dramatic in the beginning.

It often starts small.

A caregiver asking personal questions about finances. A new “friend” suddenly becoming involved in banking decisions. A family member borrowing money that never gets repaid. Repeated gift card purchases. Large withdrawals. Unexpected changes to wills or accounts. Someone with cognitive decline agreeing to things they no longer fully understand.

And because these situations can develop gradually, they are easy to dismiss.

Easy to explain away.

Easy to ignore until the consequences become impossible to reverse.

That’s the difficult reality families are navigating every day.

How Dementia Changes Vulnerability

Dementia changes vulnerability.

Not because a diagnosis suddenly removes someone’s worth, intelligence, or humanity.

But because cognitive decline can affect judgment, memory, reasoning, impulse control, and the ability to recognize manipulation.

Scammers know this.

Unfortunately, sometimes people close to the individual know it too.

That’s why awareness matters.

Why These Conversations Stay Hidden

There’s also a larger societal conversation underneath all of this.

We often talk about protecting vulnerable populations in broad, compassionate language.

But meaningful protection requires more than awareness campaigns or good intentions.

It requires systems, education, accountability, and earlier intervention.

Because right now, too many people living with dementia are expected to navigate increasingly complex financial systems while also managing cognitive changes that make them more susceptible to exploitation.

And too often, the systems surrounding them respond only after harm has already occurred.

Families assume they would notice if something was wrong. Banks hesitate to intervene. Professionals worry about overstepping. Neighbors stay quiet.

Everyone assumes someone else will step in. Meanwhile, exploitation thrives in that hesitation.

Financial Exploitation Doesn’t Always Look Obvious

One of the biggest misconceptions about financial exploitation is that it only happens to people who are isolated, uninformed, or incapable. That simply is not true. Financial exploitation affects educated, independent, socially connected adults too. What changes with dementia is not intelligence. It’s vulnerability.

Someone who spent decades successfully managing finances may begin forgetting transactions, struggling to identify scams, or trusting people they normally would question. And because many people living with early cognitive decline are deeply aware of the stigma surrounding dementia, they may hide mistakes out of fear.

Fear of losing independence. Fear of embarrassment. Fear of becoming a burden. Fear that family members will take control away from them.

That silence creates opportunity for exploitation.

When Exploitation Comes From Trusted Relationships

Sometimes exploitation comes from strangers.

Phone scams. Email scams. Fraudulent charities. Romance scams. Fake technical support. Aggressive sales tactics.

But one of the hardest truths families face is that exploitation can also happen within trusted relationships.

Adult children. Extended family. Caregivers. Friends. People with direct access to finances and emotional trust.

That reality is uncomfortable to talk about.

But avoiding the conversation does not protect people.

Awareness is not about becoming suspicious of everyone. It’s about recognizing the warning signs.

Why Awareness Has to Come Before Crisis

It is dementia care. Protecting someone’s wellbeing includes protecting the systems that allow them to live safely and with dignity. That includes financial stability. The challenge is that awareness alone can feel uncomfortable. Once families begin recognizing the risks, difficult conversations follow.

Who should help manage finances? When should safeguards begin? How do we balance independence with safety? What happens when family members disagree? How do we respect autonomy while acknowledging vulnerability?

There are rarely perfect answers.

But silence is not a solution. Avoiding these conversations does not preserve dignity. It delays preparation.

And often, people wait too long because discussing cognitive decline feels emotionally overwhelming.

No one wants to imagine a parent becoming vulnerable. No one wants to discuss future limitations. No one wants to think a loved one could be manipulated.

But avoiding reality leaves families reacting instead of planning.

And reactive decisions are almost always harder.

For more information on elder abuse and being proactive, check out this article.

Changing the Conversation Around Dementia and Vulnerability

Too often, older adults are dismissed as confused, irrelevant, or incapable. That attitude creates dangerous conditions. Because when society devalues people, exploitation becomes easier to overlook. People living with dementia deserve respect, dignity, inclusion, and protection.

Not pity.

Not silence.

Not systems that wait until harm occurs before paying attention.

And this conversation matters now more than ever.

As populations age, more families will face dementia-related caregiving challenges.

More adults will navigate complex financial systems while experiencing cognitive changes.

More caregivers will feel overwhelmed.

More opportunities for exploitation will emerge unless prevention and awareness become priorities.

That responsibility cannot fall solely on families already carrying enormous emotional and physical burdens.

Awareness Is Everyone’s Responsibility

This requires collaboration.

Healthcare systems. Financial institutions. Community organizations. Legal professionals. Care teams. Families. Neighbors.

Everyone.

Because if dementia increases vulnerability, then society has a responsibility to respond accordingly.

Not with fear.

Not with overcontrol.

But with awareness, education, accountability, and safeguards that prioritize dignity.

The goal should never be stripping people of independence.

The goal should be protecting people from preventable harm.

And honestly?

We need to stop acting surprised every time financial exploitation happens.

It is not rare.

It is simply under-discussed.

Silence protects exploitation.

Awareness interrupts it.

And if we truly care about aging with dignity, then these conversations cannot stay hidden in the background.

They need to happen openly, compassionately, and far earlier than most people realize.

Because dementia should never become an open invitation for manipulation.

And silence should never be easier than accountability.

Resources

• Family Caregiver Alliance (FCA) – Provides education, advocacy, and support for caregivers, including online resources and local services.
• AARP Family Caregiving – Offers guides, financial planning advice, and community support for family caregivers.
• National Alliance for Caregiving (NAC) – Provides research, policy updates, and support for caregivers managing both elder and child care responsibilities. 
• Alzheimer’s Association – Offers resources, helplines, and support for those caring for loved ones with Alzheimer’s or dementia.
• The Caregiver Action Network – A nonprofit that provides peer support and resources for family caregivers.
• The Aging Together Caregiver Hub – online community to support, educate, and connect you with others on this journey

—

Ready to connect with a community of family caregivers? Join our growing network to access resources, share experiences, and find support for the year ahead. Don’t forget to check out our latest podcast episode and get a sneak peek at what’s coming next. Visit our Instagram page and/or join our caregiver community for more information.

===

At Aging Together, we are dedicated to helping you navigate aging together. This blog page is for everyone: whether you are an older adult looking to age in place, a caregiver seeking support and guidance, a young or middle-aged adult planning for the future, or simply someone interested in learning more about the aging process. I hope you’ll join me on this journey. Let’s navigate aging, together.