Older adults are often dependent on other people for certain needs. They may live with family members or even rely on a child or spouse to manage their daily needs, like administering medication. Some people will use that kind of power for their own selfish reasons....
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Financial Elder Abuse
Medicare Open Enrollment brings out the scammers
If you’re at least 65 years of age or have a loved one who is, you probably know that we’re in the Medicare Open Enrollment Period (OEP) for 2022. It began on Oct. 15 and runs through Dec. 7. During this period, those eligible for Medicare can choose their plan for...
Elder financial abuse: Common scams and schemes
Seniors lost more than $3 billion to scammers last year, the FBI says. More than 100,000 people over 65 years old were victims of financial elder abuse, with an average loss of $9,175. Nearly 2,000 older Americans each lost more than $100,000 in 2020. The FBI said...
Southern California woman accused of financial elder abuse
It takes less than an hour to drive east of Los Angeles to get to Norco. Among the city’s slightly more than 27,000 residents is a woman recently charged with financial elder abuse, money laundering and grand theft of personal property. According to the California...
Elder financial abuse: Five scams that target seniors
It’s unfortunate but true that older adults are more likely to be targets of scammers than any other age group. Because many seniors own their homes, have substantial savings and other assets, they are targeted for elder financial abuse perpetrated by family members,...
Stopping stimulus-related elder financial abuse
Every elder deserves to be treated with respect and honesty, but unfortunately, that does not always happen. Far too often, a caregiver, medical professional or even a family member will exploit their position or relationship to commit elder financial abuse. The...
Report: California near last in elder-abuse protections
California is often a trendsetter, blazing new paths in everything from popular culture to tax policy and environmental protections. But a new report shows that California finishes nearly last in protecting vulnerable older Americans from elder abuse. According to...
Pandemic exacerbating financial elder abuse problems
At the start of the COVID-19 pandemic, state and local governments tried to protect the most vulnerable in their communities by issuing lockdown orders that shuttered businesses, schools and more. Sadly, these shutdowns which were designed, in part, to shield seniors...
Who might be vulnerable to financial elder abuse?
Financial abuse is tragically not uncommon among elderly individuals. Such exploitation can take many forms, including through investment or lottery schemes, forged checks, identity theft, stolen goods and more. Perpetrators can range from scammers or con artists to...
Part two: Understanding the signs of financial elder abuse and what to do
This blog recently discussed some of the signs of financial elder abuse, as well as the circumstances that can lead to such exploitation. Below, we will address some possible steps to take after discovering or suspecting a loved one is a victim of financial abuse....