Eldercare Locator Announces Holiday Campaign to Help Prevent Financial Exploitation of Older Adults

Please help spread the word about this critical campaign against financial elder abuse.

Washington, DC — As financial exploitation targeting older adults continues to become more prevalent in the United States, the national Eldercare Locator announced today that it has launched a campaign to encourage older adults and their families to address this critical issue and to get informed about the warning signs and resources available to help prevent exploitation.  Research shows that as many as 5 million older adults are victims of elder abuse each year and financial exploitation costs seniors an estimated $3 billion annually.

The National Center on Elder Abuse has partnered with the Eldercare Locator to produce a consumer guide that is now available to help inform this discussion.  Click this link to get a copy of the guide.

“Financial exploitation of older adults can take many forms and can come in many guises including telemarketing scams, identity theft, fake check scams, home repair fraud, and even “sweetheart scams” whereby a con artist befriends or romances an isolated lonely older adult to gain control over their finances.  Unfortunately, financial exploitation can  often be committed by a person you know and trust—a friend, caregiver or even a family member, which makes it even more difficult,” said Sandy Markwood, CEO, n4a.

“There are steps older adults and their families can take and resources available to help identify and remedy this serious problem.  To ensure your safety and the safety and security of your finances, it is critical for you to assess your financial situation on a regular basis.  We are seeing more and more financial abuse across the country which is why this holiday season, we hope families will check in with their older relatives to be sure that their finances are in good order and in good hands.”

Signs of Financial Exploitation

There are several signs of financial exploitation for families to look out for, including-

Financial activity that is inconsistent with an older adults past financial history;

Multiple withdrawals within a short time period;

Inconsistent signatures on documents;

Confusion about recent financial arrangements;

New names added to accounts or other changes to key documents that have not been authorized;

A caregiver or beneficiary who refuses to use designated funds for necessary care and treatment of an older adult and

An older adult who feels uncomfortable or even threatened by a caregiver or another individual who is seeking to control their finances.

Families that are concerned about financial exploitation should report the issue to state agencies that deal with protecting the safety and well-being of older adults.  The campaign, which encourages older adults and their families to plan and be cautious, released tips to help prevent financial exploitation, some of which include:

Learn how to avoid fraud and scams 

–Consult with a trusted person before making any large purchases or investments.

–Do not provide personal information (i.e. Social Security number, credit card, ATM PIN number) over the phone unless you placed the call and know with whom you are speaking.

–If you hire someone to help you in your home, ensure that they have been properly screened with criminal background checks completed.  Ask for certifications when appropriate.

–Talk with an attorney about creating a durable power of attorney for asset management; a living will; a revocable, or living, trust; and health care advance directives.

“Financial Exploitation can be prevented if people know the right questions to ask and where to turn for help, said Mary Twomey, Director, National Center on Elder Abuse.  “Although it is a sensitive issue and one that can be difficult to broach, it is critical for families to address it, and there are many useful resources available to guide them through the process.”

About Eldercare Locator

The Eldercare Locator is the first step to finding resources for older adults in any U.S. community and a free national service of the U.S. Administration on Aging (AoA) that is administered by the National Association of Area Agencies on Aging (n4a). Contact the Eldercare Locator at 800.677.1116 or the website Eldercare Locator.

November 2012 marks the 20th Anniversary of the Eldercare Locator, which has received more than 2.3 million calls since it launched in 1992 and assisted millions of older adults and caregivers connect with local aging resources.

 

I Was Almost Conned By This Guy

It was a restless night. Just too much on my mind. We left the TV on and I woke up to hear Kevin Trudeau talking on an info-commercial about how you can get FREE money from the government.

Well, I have heard that from Lesko but never got the book. And, I thought, in my foggy thinking, this guy is saying that the other guys book was not the way to go. He is saying that he gives less pages and just the right info.

I continued thinking, “I really could use FREE money”. My mind drifted to bills, goals that needed money, people that needed money, and I drifted back to sleep. Oh, I did not go to sleep until I wrote his number down on my bed stand.

Later that day, I looked and the number and was about to grab my credit card. Then I stopped. I said, “Rosie, you know better, check this guy and his offer out first.”  So, I did a search on google with his name and the word “scam” in the search.

Wow, there was enough there to make me laugh at how I almost gave this guy FREE  money. Some complained about paying large amounts for shipping. So, here is a post I just read so you can decide for yourself before listening to your impulses like I almost did.

Read this article about this famous info-commercial expert.

Now, if only we practice the technique but add truth to it that would be a good thing. What do you think? Is this article wrong? Did you buy the book and benefit from it? Are his critics just player haters? I do want to be fair because I never put money out to get the book.