A Guide to Recognizing Elder Financial Abuse
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Posted On :
Dec-20-2011
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Article Word Count :
536
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In recent times, elder financial abuse has developed into a hot subject matter of discussion. The statistics continue to rise, and a few even go so far as considering it an epidemic. Sadly, the crime is one that continues to be under-reported.
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Elder financial abuse - it's an issue that has been around as long as seniors have had property and funds. Generally speaking, 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 accumulated by these individuals. Together with funds, exploitation of a person's property and resources also can be regarded as abuse.
Even though the crime has been around for years, it was only given nationwide attention lately. In 2011, well known Hollywood actor Mickey Rooney sued a stepson for alleged abuse. Awareness developed after the revelation of his case.
A study carried out by a top worldwide insurance provider revealed that approximately three billion dollars a year is lost thanks to the crime. This is a result of the many various tactics utilized by the bad guys to steal from senior citizens. Spotting the abuse is pretty easy. Sadly, several cases take place within families. And unless other folks become involved, cases will not see the light of day.
What constitutes as elder financial abuse and who is responsible for it?
The phrase is actually a blanket term for a variety of criminal activities. These crimes include the usage of trickery, deception, and coercion to to attain the funds, resources, and properties of a senior citizen. Those that are generally found guilty include caregivers, con artists, and sad to say, members of the family. Types of exploitation committed by these folks include:
- Misuse of personal checks, credit cards, and other financial accounts - It's usually accomplished by forging the signature of an elderly person.
- Stealing of cash, pension checks, and other prized possessions.
- Identity theft - Senile folks often fall victim to this sort of attack. Devious people make use of the fact that seniors are confined to homes or nursing facilities. Thankfully, bank fraud lawyers are taking the required actions to fight such problems
Never assume all sinister acts are done by singular individuals, however. You will find times when even healthcare is used as a tool to extort income from the elderly. These companies take advantage of an elderly person's fragile frame of mind. Healthcare provider and also other scams include:
- Special "prizes" for senior citizens that has to be purchased.
- Charging excessively for healthcare that is not supplied.
Elder financial abuse happens because of a senior citizen's slowing mental capacity, especially those that are senile. Being alone also plays a factor in the abuse. Typically, victims are widows or widowers. Statistically, women are particularly prone to abuse. Research has shown that women live longer than men. The elderly women that live longer than their spouses generally are members of a generation where the male was the one who handled the finances.
When you know someone that may be a target of this kind of abuse, it might be best to inform the authorities. In cases where you personally know the family and are concerned about being called an intruder in family issues, you can find anonymous hotlines you can call.
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Article Source :
http://www.articleseen.com/Article_A Guide to Recognizing Elder Financial Abuse_122006.aspx
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Author Resource :
Abbie Kirby is colleagues with a bank fraud lawyer dedicated to elder financial abuse cases.
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Keywords :
bank fraud lawyer, elder financial abuse,
Category :
Reference and Education
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Legal
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