An elderly woman living alone relies on a handyman to take care of home maintenance. She is visually impaired and has trouble writing his paychecks. He offers to help, and she accepts because she has come to trust him. After a few weeks, he adds a zero to make the $60 check into $600. More weeks pass, and he ups it to $6,000.
The woman has no idea until she learns her checking account is depleted.
When we hear about such episodes, we wonder: What kind of low-life targets elderly people? And how can elders get taken so easily?
The Androscoggin Elder Abuse Task Force was formed to educate the community on the issue of elder abuse. Friends, neighbors and family members need to be aware of the subject of abuse against seniors and know how to respond to that abuse, and the public can be part of helping seniors stay safe and informed in their communities.
People over 50 years old control more than 70 percent of the nation’s wealth. The average victim of elder financial abuse is a woman, age 80 to 89, who lives alone, according to a MetLife Study of Elder Financial Abuse. Having limited contact with the outside world, she welcomes any contact to get companionship. She’s an easy target for scammers and thieves.
Scams are fraudulent or deceptive acts, and fraud occurs when an abuser uses deception, trickery, false pretense or dishonest acts or statements for financial gain.
Thirty-four percent of perpetrators are well-known to the elderly person, according to the MetLife study. Family members, friends, neighbors, clergy, bankers, cops — they have all been perpetrators.
One common signal of elder financial abuse is the abuser cuts off an elderly person from outside contact, such as by shooing visitors away or intercepting phone calls. Trust your gut feelings. If something seems amiss with an elderly neighbor or friend, call your local adult protective services.
Elder financial abuse may include:
— Taking money or property;
— Forging a signature; and/or
— Getting a senior to sign a deed, will, or power of attorney through deception, coercion or undue influence.
Other forms of elder abuse include:
— Using the senior’s property without permission;
— Confidence crimes (cons), usually the use of deception to gain the confidence of the elder;
— Sweetheart scams (perpetrator professes to “love” the senior); and/or
— Telemarketing scams, in which perpetrators call victims and use deception, scare tactics or exaggerated claims to get them to send money. They may try to gain access to credit card information to make charges without authorization.
Watch for the warning signs. No single cause or factor can be taken as absolute truth. Rather, you should look for patterns or clusters of warning signs that may suggest a problem.
Warning signs include:
— Unpaid bills, eviction notices, or notices discontinuing utilities;
— Withdrawals from bank accounts or transfers between accounts that the older person cannot explain;
— Bank statements and canceled checks no longer coming to the elder’s home;
— New “best friends”;
— Legal documents such as powers of attorney, which the older person didn’t understand at the time he or she signed them;
— Unusual activity in the elder’s bank accounts, including large, unexplained withdrawals, frequent transfers between accounts or ATM withdrawals;
— Substandard care being provided or bills unpaid despite the availability of adequate financial resources;
— A caregiver expresses excessive interest in the amount of money being spent on the elder; and/or
— Belongings or property are missing.
The annual financial loss to victims is estimated to be at least $2.9 billion, according to the MetLife study. The total costs, however, ripple out into society. No one knows how many elders have been institutionalized on the public dollar because their assets were stolen, and they no longer can live independently.
The exploitation of seniors is easy to overlook. There are many ways to prevent and stop this type of abuse from happening. If you suspect financial abuse of an elderly person, contact Adult Protective Services, local law enforcement or the senior’s financial institution.
Jennifer Warriner is marketing director for the Maine Family Federal Credit Union.
June 15 is World Elder Abuse Day, and the Androscoggin Elder Abuse Task Force will hold its 5th annual Senior Resource Fair from 9 a.m. to 1 p.m. on Thursday, June 12, at the Green Ladle in Lewiston.
The resource fair features a variety of speakers on topics including fraud, personal safety and prosecution of crimes targeting seniors, as well as information tables from local organizations that work with seniors.
The event is free and lunch will be provided, but registration is required. To register, call Kelley at 795-6744. Space is limited.
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