What is elder financial abuse?

What could be more despicable than stealing and deceiving the elderly for their money?  Elder financial abuse, a matter that was recently brought to the spotlight by Hollywood actor Mickey Rooney, is a crime of taking advantage of senior citizens for financial gain. Rooney sued his stepson plus others for fooling him into thinking he was on the brink of poverty and forcing him to go on working while they swindle millions using his name.

Once the case was settled, individuals were suddenly more conscious of this urgent matter. So, how do you recognize this crime and prevent it?

Elder Financial Abuse 101

This crime will involve illegal and improper use of a senior citizen’s funds, resources and property. Identifying this crime is not difficult, however, they largely happen within the family. Unless other parties observe and get involved, these criminal offenses may go undetected.

The crimes related to elder financial abuse involve trickery, deception, forceful access to funds and properties of a senior citizen. A lot of people that are guilty of this include caregivers, fraudsters and, sadly, family members.

Here are instances of the exploitations these fraudsters do:

-Forging the signature of an elderly to gain access to personal checks, credit cards as well as other financial accounts.

-Stealing prized possessions, cash, and pension checks

-Theft of identity- Most victims of this are senile elderly. Fraudsters benefit from the elderly’s confinement in a nursing facility and use his identity for personal or business transactions. From time to time, even healthcare companies are guilty of this crime. Some charge too much for unnecessary healthcare services. While there are those that offer special “prizes”, which in the end forces older people to purchase. It’s a good thing there’s lots of vigilant bank fraud lawyers who take required measures to fight against these complaints.

How to battle elder financial abuse

Hiring a good bank fraud lawyer to analyze how an elderly’s funds are getting spent is a way of fighting elder financial abuse.

Get a firm that works on elder financial abuse cases. There are several who investigate and litigate fraud actions involving insurance and banking claims. A bank fraud lawyer in this organization may also investigate wrongful death cases.

Below are a few other ways you are able to keep this abuse from happening:

-Keep your communication lines open with your elderly relatives. Check up on them from time to time.

-Observe, observe, observe! Be observant of any behavioral or physical change.

-Do a complete research on the track record of your caregiver! It is unadvisable to choose one through an advertisement. Seek out licensed and bonded agency. You may also use an investigator to look at the credentials of your caregiver. This helps to ensure that your relative is in good hands and the caregiver isn’t a convicted felon of some sort.

-Keep an inventory of jewelry, expensive gadgets, and properties. Make sure all the valuables are stored in a safe place.

When you know someone who may be a victim of this kind of crime, it will be best to notify the authorities or refer a good bank fraud lawyer who can assist them. If you know the family and don’t wish to be called as somebody who meddles in family affairs, search the internet and locate anonymous hotlines you could call.

 

Abbie Kirby is a Senior CEO who knows a great bank fraud lawyer who’s well-informed in elder financial abuse.

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