Combine our aging population, longer life expectancies, and all the new-fangled ways to engage in old-fashioned thievery, and America faces a perfect storm of increased financial elder abuse.

It’s worth emphasizing, even those who are affluent, well-educated and/or generally street-savvy are not immune from the threat. In a 2015 survey, True Link Financial (a firm dedicated to protecting families against financial abuse) found that, “Seniors who are young, urban, and college educated lose more money than those who are not,” and “[f]inancially sophisticated seniors lose more to fraud, likely because they are comfortable moving larger amounts of money around.”

They also found that especially friendly (and/or lonely) seniors were at increased risk. For example, you probably know someone who fits this description: “You tell mom to hang up on telemarketers, but she is just too polite to hang up on anyone.”

First, we fiduciary advisors have an important role to play as our clients’ first lines of defense against financial elder abuse. Once we know you well – and thanks in part to recently enacted legislation – we and our allies at Schwab Institutional are better equipped to detect and follow up when something seems “off.”

Family members can and should help as well (although, tragically, they can also be among the worst perpetrators, given their ready access to the victim’s heartstrings).

Together, we can watch out for telltale signs of financial elder abuse.

Be on the lookout for erratic financial activities that don’t jive with your loved one’s past habits and levels of competency. For example, watch out for missing or inconsistent account statements, unpaid bills, and unexplained deposits or withdrawals.

There are softer signs as well. Be on alert if a loved one is displaying increased levels of anxiety or confusion about their money; or if a family member, “friend” or guardian may be isolating their victim from you or others.

Financial abuse can arrive in the form of an external threat – such as a phone scam, in which the victim is tricked into wiring money overseas to “rescue” a stranded relative, or a phishing email that tempts them into clicking on infected links. As touched on above, the abuse also can come from a trusted friend or family member, and it can continue for years.

If you suspect you or someone you know has become a victim of financial abuse, don’t feel embarrassed or ashamed to report it. It truly can happen to anyone, at any age! Hill Investment Group clients and their family members should feel free to reach out to us with any questions or concerns. You also may wish to be in touch with other financial alliances, such as your bank or insurance provider, and consider submitting a complaint to the Consumer Financial Protection Bureau.

Would you like to know more about what we are doing Hill Investment Group to prevent abuse and fraud, and protect client information? We are here as a resource for you. Feel free to be in touch with any questions.

So, have you checked your minor child’s credit reports lately … or ever? What’s that? You didn’t know your child had credit reports? Technically, they shouldn’t. Not unless you have opened credit lines for them yourself. Unfortunately, because most children’s identities are so pristine, they’re especially tempting targets for identity thieves. These lowest of the low are looking to steal your child’s identity and sully their credit, sometimes before “Junior” can even walk, let alone go shopping. Many parents don’t know to keep an eye out for this growing threat, so thieves can often have a field day before you realize anything is amiss. The cherry on the top of this awful mix: Once your child’s identity is stolen, you may not notice until they’re preparing for college, applying for their first line of credit, or embarking on similar adventures that are supposed to be fun and exciting. Yuck. We’re using today’s post to call attention to this critical threat. We’re not the only ones, either. The Wall Street Journal recently published an excellent overview of the issue, including simple steps you can and should take to monitor your child’s credit, and how to proceed if you find a problem. A good first step: Check to make sure your child doesn’t have a credit report you’re unaware of. You can do this by navigating to the Federal Trade Commission’s Identity Theft Recovery Steps page, scrolling down to “Special Forms of Identity Theft,” and selecting “Child Identity Theft.” Follow the directions there, and establish a schedule to repeat this activity periodically. You might also consider proactively establishing lines of credit for your children, and then immediately freezing them. This can help prevent someone else from opening a bogus line of credit using your children’s identity. Also, be on sharp lookout for warning signs. A prime example: your child starts receiving credit card offers or calls from collection agencies. In the past, you’d probably have laughed at these sorts of messages to your three-year-old. These days, they are likely to mean that somebody has stolen your child’s identity and is up to no good with it. The moral of the story: You can go a long way toward protecting your kiddos and reducing your anxiety by following these steps. If you feel inclined, do share this with others, and help us spread the word about this little-known threat.

In the good old days, online security used to be more nicety than necessity. For years, I had one 8-digit random password to serve every login need. With developments in hacking technology, the standards for passwords have changed, and a one-size-fits-all password no longer makes the cut. In this piece we’ll challenge our old beliefs about passwords and introduce you to five new powerful password procedures to help you stay secure.

1. Make it unique. Each of your online accounts should have a unique password. Otherwise, if a cyberthief breaches one account, they’ve effectively breached them all. Don’t make it easy for them.

2. Stay sane with a password manager. Unless you are a master memorizer, assigning unique passwords to each login is a tall order indeed. Solution: install a top-of-the-line password manager. This handy tool will help you to store, and even generate strong passwords. Here’s an independent review of available providers to get you started.

3. Lead with length. Remember those 8-digit passwords we talked about? There are random generators out there that will decode 8 characters in a computerized heartbeat. Instead, passwords should be 16 or more characters long.

4. Words are welcomed. It used to be a no-no to use dictionary words in a password. This is now considered okay, as long as the string meets the 16-character suggestion. Bonus points if you include a sprinkling of numbers, symbols and cases. For example, a semi-legible password like April48+greenGoose12% is probably equally as strong as an entirely random string like F8*tjE#378FpP6Jm#@4.

5. Change it up, often. Once your password game is strong, it’s best to routinely change them. Quarterly is ideal, and the password manager can help. Schwab conveniently prompts you when it’s time to change theirs, as do many other financial institutions.

How else can we assist you with your cybersecurity? Send me your questions … I’m on patrol!