What is Elder Financial Abuse and How Do You Recognize It?
Elder financial abuse is anyone committing, or assisting to commit theft of embezzlement of money or any other property from an elder (65 and over) or a disabled adult (18-64).
One of the fastest growing financial crime trends in the country today is elder financial abuse. This is a serious form of abuse as it can leave the seniors and disabled adults in our communities unable to provide for their needs and fearful of the future.
There are many reasons why the elderly are targeted by scammers: vulnerability due to grief from the loss of a spouse, family member, friend, or pet; unfamiliarity with managing financial matters and/or cognitive impairment that causes a diminished ability to make financial decisions; embarrassment, social isolation and fear of retaliation.