Elder Financial Abuse

Who are the Exploiters?

Abusers may be:

Relatives of the older victim (e.g. spouses, partners, children and grandchildren); many of the younger abusers have substance abuse issues;

Caregivers (e.g. home aides, nursing assistants, personal care attendants);

Someone in a position of trust with respect to the senior (known as a “fiduciary”) especially if they have access to the senior’s assets, including:

  • Agents pursuant to a power of attorney (POA)
  • Accountants
  • Financial advisors
  • Bankers
  • Guardians or conservators
  • Attorneys

Predatory lenders who make unnecessary loans generating excessive fees and commissions to older, vulnerable consumers, with the expectation that they will default;

Strangers who “con” seniors via scams and confidence games, both within and outside the US.