25 August 2012

"Elder Scam: Money Stolen by Family Members"

Mention the topic of financial scams against seniors, and most people will think of a telemarketing fraud or a Ponzi scheme. But more often than not, the scammer is a member of the senior's own family.

"We spend a lot of time warning seniors they will get scammed if they answer email or pick up their phones, but most of money goes out the back door with family members," says Randy Thomas, a retired law enforcement officer and past president of the National Committee for the Prevention of Elder Abuse. The most frequent form of abuse is spending by relatives without the senior's permission, according to a study commissioned by the U.S. Department of Justicethat surveyed a cross-section of seniors across the country.

Thomas, who trains social workers, judges, healthcare and law enforcement professionals on elder financial fraud awareness and prevention, says cases of family fraud often are the largest. "I've seen as much as three-quarters of a million dollars that disappeared over 18 months. The money, or control of a house - it's all just stripped away."

Read more at http://www.thefiscaltimes.com/Articles/2012/08/24/Elder-Scam-Money-Stolen-by-Family-Members.aspx#rsMTCA2UoTUdowfX.99


  1. When the vote in the U.S.?

  2. It doesn't matter.

    Elder abuse, financial elder abuse is a problem the world over.


All comments are reviewed before posting.