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Elder Financial Abuse | How to Stop Senior Fraud

Defend Against Elder Fraud.jpgJune is Elder Abuse Awareness Month, and now is as good an opportunity as ever to assess the threat of elder financial exploitation. Let's just say it's staggering - just recently the US Justice Department charged 260 defendants with defrauding over 2 million seniors to the tune of $750 million. It's the "largest single law enforcement action against elder fraud in American history." And it's a wake-up call for the rest of us - so how can we protect our elderly loved ones from financial predators?

A Yahoo! Finance article written this week by journalist Cameron Huddleston provides valuable information on spotting and preventing elder financial abuse. Huddleston addresses a number of aspects of this challenge, including fraud by family members; caregiver abuse; sweetheart scams; misuse of power of attorney; fraudulent property transfers; and investment schemes.

Cameron also mentioned my book, Alzheimer's, Widowed Stepmothers & Estate Crimes, as a helpful guide for detecting and countering wrongdoing against an elder's estate or trust. I'm grateful that I can contribute to a common effort to fight elder financial abuse and sound the alert. If Alzheimer's, Widowed Stepmothers & Estate Crimes prevents just one case of abuse and saves a family from financial loss and heartache, then I'll know my mission is worth it.

It's a privilege to speak out on elder financial abuse as a public danger and speak up for those whose voices are silenced. Thank you to Cameron Huddleston for a superb article and solid advice for steering clear of fraud. If you remember one thing, each of us can make a positive difference in our everyday lives for vulnerable loved ones.

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