1111 S.W. 2nd Avenue, Portland, OR 97204
What is elder fraud?
Financial exploitation of senior citizens includes many issues. It may occur when a durable power of attorney document or joint bank account ownership is misused. Financial exploitation also may occur when guardians or conservators misuse their authority over wards and their estates. Further, financial exploitation may occur when fraud or undue influence is used to gain control over an elder’s real and personal property and financial resources. Financial exploitation may occur when parties to a real estate transfer fail to provide reasonable consideration for the transfer. Finally, financial exploitation may occur when an elder consumer is victimized by consumer scams, telemarketing fraud, sweepstakes fraud, predatory lending, and other scams that target elderly persons.
Why do criminals target the elderly?
Criminals often target senior citizens (65 or older) because they manage a large percentage of the nation’s liquid assets and may be more vulnerable to fraud and deception due to age related physical and cognitive limitations. The assets stolen may represent an elderly victim’s life’s savings.
Senior citizens may be hesitant to report this financial abuse because of embarrassment or simply because the system may seem so cumbersome. Seniors may be afraid of losing their independence, losing control over their finances or being moved from their home. Senior citizens therefore need the support and encouragement of family and friends.
Some examples of elder fraud are:
Web Site for Aging and Disability Services
Web Site for AARP
(503) 229-5576 from Portland (toll free)
1 (877) 877-9392 elsewhere in Oregon (toll free)
firstname.lastname@example.org email-24 hours
NationalCenteron Elder Abuse