Unfortunately, it seems there is no end to the various types of financial abuse or fraud. Some of the most common types of fraud are:
The misuse of a position of trust or confidence to persuade someone to do something he or she would not ordinarily do.
Using a senior’s checks, account information, credit or debit cards to obtain money without permission.
Obtaining property (such as real estate or investments) from an elderly person or dependent adult using threats, fear, or intimidation.
Misuse of authority
Abusing legal authority such as powers of attorney or fiduciary powers, to obtain a loan or withdraw money in an elderly person or dependent adult’s name, or to sell or change title to that person’s property.
Mail or telephone fraud
Contacting an elder or dependent adult claiming the elder has won or inherited a large sum of money, generally overseas.
Offering to perform work for an elder or dependent adult, partially completing the job, then demanding more than was agreed upon to finish the work. Or, the fraudster may demand payment up front and never do any work. This type of fraud occurs often after a hurricane or other devastating event.
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