By Susan Rand
Published Aug 07, 2005
If you have one or more elderly parents, you can bet that someone out there is trying very hard to get into their pockets, and empty them. These miscreants skulk around the home, bang on the door, call on the phone, place ads in magazines and newspapers, on billboards, online and on TV. Seniors who in possession of most of their faculties will likely turn these scoundrels away at the source, but what if your mother or father is mentally challenged, or losing contact with reality? What if they've lost their ability to exercise good judgment - maybe you've just learned they purchased a burial plot in a state clear across the country, in response to some salesman's telephone plea - what will you do?
What is senior financial abuse? Elder financial abuse is "the improper or illegal use of the resources of an older person, without his/her consent, for someone else's benefit."
Scammers are creative people who use various methods to convince the elderly that someone needs them. They can help poor or ill children; other oldsters like themselves or even their relatives. Seniors who feel a bit left out of things may jump at the chance to get involved in some worthy cause. Here are some examples: o A daughter persuades her father to give her power of attorney, then empties his bank account. o A non-licensed "roofer" visits a senior lady and offers to put a new roof on her house for a low price. She is happy to agree though there is nothing wrong with her roof. The man takes the money and never comes back. o A neighbor charges an elderly man $50 per week to buy and deliver his groceries. o A caretaker uses a senior's ATM card to withdraw money for necessities, but gets an extra $100 for herself. o A stranger persuades an elderly person 300% return on the money they invest with him, but once they've turned over the cash, they never hear from him again. o A con-man "collecting for charity" (vague about which charity) takes $200 from a kind-hearted senior. o A housekeeper sneaks small valuable items from a senior's house and sells them on eBay. o Another caretaker charges clothing and other returnable items to her employer's credit card.
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Although this article was written 2 years ago, it is still relevant today.
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