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Elder Financial Abuse What It Is and How to Stop It

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									Elder financial abuse - it's an issue that 's been around as long as the
elderly have had property and money. Normally, an elderly person is
sixty-five years or older, and is also known as a senior citizen. The
crime is a term for the misuse of the funds acquired by them. Along with
funds, exploitation of a person's property and resources also can be
considered abuse.

Even though the crime has been around for several years, it had been only
given nationwide attention in recent times. In 2011, famous Hollywood
actor Mickey Rooney sued a stepson for alleged abuse. Public awareness
grew after the revelation of his case.

A study carried out by a primary international insurance provider said
that close to three billion dollars a year is lost thanks to the crime.
This is due to the many various tactics utilized by the bad guys to steal
from senior citizens. Recognizing the abuse is fairly easy. However, a
number of cases happen within families. And unless other parties get
involved, instances wouldn't see the light of day.

What is regarded as elder financial abuse and who is guilty of it?

The term is actually a blanket term for a wide range of criminal
activities. These crimes involve the use of trickery, deception, and
coercion to access the funds, resources, and properties of a senior
citizen. People that are typically found guilty are caregivers,
fraudsters, and sorry to say, family members. Examples of exploitation
committed by these folks include:

- Misuse of personal checks, credit cards, and other financial accounts -
It's usually performed by forging the signature of an elderly person.

- Stealing of cash, pension checks, and other prized possessions.

- Identity theft - Senile individuals often become a victim of this kind
of attack. Devious people take advantage of the fact that the elderly are
confined to homes or nursing facilities. Thankfully, bank fraud lawyers
take the necessary actions to fight such problems

You cannot assume all sinister acts are done by singular individuals,
however. You can find cases when even healthcare is used as a tool to
extort income from the elderly. These companies take advantage of an
elderly person's fragile state of mind. Healthcare provider and other
scams include:

- Special "prizes" for senior citizens that must be purchased.

- Charging excessively for healthcare that isn't provided.

Elder financial abuse takes place simply because of a senior citizen's
lagging mental capacity, especially those that are senile. Isolation also
plays a role in the abuse. Typically, victims are widows or widowers.
Statistically, women are especially vulnerable to abuse. Research has
shown that women live longer than men. The elderly women that live longer
than their companions typically belong to a generation where the male was
the one who handled the finances.

When you know somebody who may be a victim of this kind of abuse, it
would be best to tell the authorities. In instances where you personally
know the family and are concerned about being called an intruder in
family issues, you can find anonymous hotlines you could call.

Abbie Kirby is colleagues with a bank fraud lawyer dedicated to elder
financial abuse cases

								
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