Elder Financial Abuse - Halt This Crime With A Bank Fraud Lawyer

By Author: Caitlin Mistry
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On 2006, one of the most infamous cases the American Association of Retired Persons (AARP) handled was the financial exploitation of one of New York City's infamous socialite and philanthropist Brooke Astor. Based on reports, her son and a lawyer were tried on charges of abusing her mental incapacity to raid her $200 million fortune.

The AARP referred to it as one of the most insidious elder financial abuse crimes. This didn't stop there. Last year, Hollywood actor Mickey Rooney sued his stepson as well as others for fooling him into thinking he was on the brink of poverty. These people compelled him to carry on working while they swindled millions using his name.

These crimes don't just afflict wealthy people. They could happen to anybody. You need to recognize this so you can stop it.

What is Elder Financial abuse?

This exploitation involves the improper and illegal use of a senior citizen's funds, property, and resources. It might not be easy to identify these crimes as it usually happens within the family. It may continue and go unnoticed unless other parties observe and get involved.

Abusers ...
... act as if they are just helping an elderly person manage finances, but the reality is they've got an ulterior motive. They convince the elderly to sign legal documents including deeds of properties or alter the mailing address of monthly checks. Sometimes, they even commit these crimes forcefully. Most of the time, abusers turn out to be caregivers, fraudsters and, unfortunately, family members.

Below are some examples of the exploitations these criminals commit:

- They steal pension checks, cash and prized possessions.

- Theft of identity - Most target victims are suffering from mental decline. Fraudsters take advantage of the elderly's condition and make use of their identity for private and business transactions.

- Healthcare companies can also be guilty of this crime. They might charge excessively for unneeded services. It is a great thing there are excellent bank fraud lawyers who take legal action to fight against this problem.

- They forge the signature of an elderly to get checks, credit cards and other financial accounts.

How do you fight this crime?

A way of fighting this crime is through getting a licensed bank fraud lawyer to examine how an elderly's money is spent. People need to look for firms that specialize on these cases because these have lawyers that are capable of investigating and litigating fraud actions involving insurance and banking claims.

Here are some ways you could prevent this crime:

- Maintain good communication with the elderly relatives. Give them a call once in a while.

- Make an inventory of all valuables -- jewelry, expensive gadgets, and even properties. Make sure that expensive possessions are held in a secure place.

- Do a thorough research on the background of the caregiver if you're going to get one. Seek out licensed caregivers from a bonded agency. You may also hire an investigator to check up on the credentials of your caregiver. This helps to ensure that your relative is in good hands.

Report to the authorities or refer a good bank fraud lawyer if you know a senior citizen who might be a victim of this kind of crime. You may also search on the internet to find anonymous hotlines you may call if you don't want to appear like somebody that meddles in personal affairs.

Caitlin Mistry is a legal consultant that knows a bank fraud lawyer who takes care of elder financial abuse cases.