047 - Review Bank and Credit Card Statements Regularly
“Small unauthorized charges are often a scammer testing whether an account is monitored. Reviewing statements regularly can help catch fraud early before larger losses occur.”
Ever notice how a tiny leak in a pipe can quietly cause a massive puddle if you don't check the basement for a few weeks? Scammers count on that exact same kind of neglect when it comes to your money.
Lately, financial tricksters have gotten incredibly subtle. Instead of trying to drain an account all at once—which triggers bank alarms—they often start by stealing just two or three dollars. They do this to test the waters, hoping you won't notice a tiny charge disguised as a random vending machine or a generic online store. If that small charge goes unchallenged, they know the coast is clear to come back later for the big bucks.
Protecting yourself or an older loved one doesn’t require you to be a computer whiz. It just takes a little bit of routine.
Here is a simple, stress-free routine you can start today:
Circle a Date: Pick one day every month—like the day your utility bill arrives or the first Sunday after the 1st—to look over your statements.
Do a Quick Scan: Grab a highlighter or open your banking app. Look closely at the amounts under $10. If you see a $2.50 charge from a town you've never visited, take note.
Call the Number on Your Card: If something looks fishy, don't panic. Call the customer service number printed directly on the back of your credit or debit card. Tell them, "I don't recognize this charge." They can freeze the card and issue a new one right away.
Checking your statements isn't about being paranoid; it's just about keeping your financial house tidy. Taking five minutes a month to review your lines of credit gives you total control, ensuring your hard-earned savings stay exactly where they belong.
What Now
If you or an elder you care for spots small, suspicious, or completely unauthorized transactions on a bank or credit card statement, take these immediate actions:
Call Your Financial Institution Immediately: Use the official phone number printed directly on the back of your debit or credit card (or on a verified, past paper statement). Notify the fraud department of the unrecognized charges; they can instantly freeze the card, initiate a dispute under protections like Regulation E, and mail you a secure replacement.
Contact the National Elder Fraud Hotline: Call 1-833-372-8311 to speak with a case manager. This free service managed by the U.S. Department of Justice provides personalized, supportive guidance for older adults and caregivers to help navigate financial exploitation and map out recovery steps.
Report the Fraud to the Federal Trade Commission (FTC): File an official scam report online at ReportFraud.ftc.gov. While the FTC does not resolve individual billing disputes, documenting the small "test charges" helps federal authorities track down systemic patterns of fraud.
Notify Your Local Adult Protective Services (APS): If you suspect the unauthorized charges were made by someone close to the elder (such as a relative, neighbor, or home caregiver), locate your local agency via the national Eldercare Locator or by calling 1-800-677-1116 to safely report the financial exploitation.
Check Your Credit Reports for Broader Identity Theft: Small account leaks can mean a wider compromise of personal data. Request a free credit report from the three major bureaus via AnnualCreditReport.com to ensure no unauthorized lines of credit or new cards have been quietly opened in your name.
Local Resources
Area Agency on Aging & Disabilities of Southwest Washington https://helpingelders.org/
(360) 735-5720
Clark County Prosecuting Attorney's Office (Elder Justice Center) https://clark.wa.gov/prosecuting-attorney/elder-justice-center
(360) 397-2261
Clark County Volunteer Lawyers Program https://ccvlp.org/
(360) 695-5313 1
