The Problem of Financial Crimes Against the Elderly.

This guide addresses the problem of financial crimes against the elderly. It begins by describing the problem and reviewing risk factors. It then identifies a series of questions to help you analyze your local problem. 

Finally, it reviews responses to the problem and describes the conditions under which they are most effective. Financial crimes against the elderly fall under two general categories: fraud committed by strangers, and financial exploitation by relatives and caregivers. These categories sometimes overlap in terms of target selection and the means used to commit the crime. 

However, the differences in the offender-victim relationships suggest different methods for analyzing and responding to the problem. Fraud Committed by Strangers Fraud generally involves deliberately deceiving the victim with the promise of goods, services, or other benefits that are nonexistent, unnecessary, never intended to be provided, or grossly misrepresented.1 There are hundreds of frauds, but offenders generally use a small subset of these against the elderly. The frauds typically occur within a few interactions. 

• Prizes and sweepstakes. These frauds generally involve informing the victim that he or she could win, or has already won, a “valuable” prize or a lot of money. The victim is required to send in money to cover taxes, shipping, or processing fees. The prize may never be delivered or, if so, is usually costume jewelry or cheap electronic equipment worth less than the money paid to retrieve it.

Click here to download the .pdf – https://img1.wsimg.com/blobby/go/ab681a18-0074-4ef8-81c1-f51c0125e604/downloads/Financial%20Crimes%20Against%20the%20Elderly.pdf?ver=1713007541491