Elder financial abuse can take many forms. Essentially, it’s the unauthorized taking or use of a senior’s funds, assets, personal identity or property.
- Stealing cash or property from an older person or their residence
- Wrongfully misusing a senior’s funds that have been entrusted into the care of another person
- Withdrawals from a senior’s bank or investment account—without consent or when the senior is unable to consent because of impairment
- Using a senior’s credit or debit card, without permission
- Persuading an older adult to sign a power of attorney (POA) at a time when they lack understanding because of dementia, or some other impairment
- Forging a senior’s signature on a check, deed, power of attorney, will, codicil, or other commercial instrument or contract
- False or misleading representations that induce the senior to transfer funds or obtain an unnecessary reverse mortgage with inflated fees
- Sale of inappropriate products or services to an older adult (e.g. auto club membership when the senior no longer drives)
- Inducing a senior to sign a will, codicil or other testamentary instrument
- Adding names to a senior’s bank account, at a time when he/she is unable to understand the change to the account
- Transactions involving coercion, manipulation or trickery of a vulnerable senior, known as “undue influence”
- Scams and “confidence” games involving “home improvement,” phony charities, the lottery or sweepstakes, sweetheart “gifts,” or younger relatives who are in trouble overseas
- Internet scams involving “phishing” emails that trick a senior into entering personal and or financial account information
- Identity theft offenses