Financial Exploitation Elder/Dependent Adult Abuse.
Over the past few years, in our community, there have been several instances of financial and property abuse of elders. This can result in the taking of money physically, forging checks, unauthorized people being added to joint bank accounts, taking jewelry and other precious goods, and the outright theft of homes.
These crimes can be done by family members, caregivers, friendly “neighbors,” and others. In nearly all cases that we have heard about in Marin Valley, the perpetrators have not been caught and appear to have succeeded in their crimes. In some cases, the abusers and thieves are still living amongst us.
In the recent talk given to us by the Marin County Financial Abuse Specialist Team, they told those present to “be nosey.” Look to see if your lonely neighbor is being unusually visited by others. Are there strange cars in their driveway, or strangers entering or leaving their house? It is alright to ask who the strangers are, or if it is another resident, don’t hesitate to talk with Matt Greenberg in the office.
Remember that abusing elders is a crime. The abuse can be financial, lack of care, mistreatment, or even sexual.
If in doubt, always ask.
The California Department of Justice has the following guidelines on its website:
How to Protect Yourself from Financial Elder Abuse
- Don’t sign blank checks allowing another person to fill in the amount.
- Don’t give strangers access to your bank accounts.
- Check your financial statements frequently and carefully for unauthorized withdrawals.
- Don’t be pressured by family members, friends, caregivers, or anyone to do anything you don’t want to do.
- Don’t leave money or valuables in plain view.
- Be aware of scams (either by phone, email, or regular mail). As the old adage goes, if it sounds too good to be true, it probably is.
It can be extremely difficult to tell if a telemarketing call is legitimate. This is especially true if you are being pressured to make an instant decision; for example, to send money right away to claim a prize that has been won. Scams can range from prize offerings to travel packages to phony charities.
Be wary of telemarketing sales pitches such as these or other scams:
- “You have won a lottery, but to claim the money, you must send a payment to pay the taxes on the money you have won.
- “We can give you a great home loan at a great price, regardless of your credit.”
- “We are offering you a fantastic buy on your favorite magazines; this is the last day and we must receive your money by midnight to guarantee this offer.”
- “You have a tax refund, verify your name, DOB, and SSN to claim the money.”
- Grandparent scam: a person poses as a grandchild without stating their name and asks for money right away to get out of jail, buy a plane ticket home, etc.
- Bank calling to verify your name, DOB, and SSN for security purposes.
- Letter stating you won a trip, money, car, or “just call this number.”
At the end of 2021, robocalls raising money for police groups were the highest volume of scam phone messages in most major U.S. markets.
So NEVER give out your personal information to anyone on a telephone or email pitch. Hang up the phone and call a family member/ friend to help determine the validity of the calls.
If you suspect a person who is elderly or disabled is being financially exploited, tell Matt Greenberg or call the Division of Medi-Cal Fraud and Elder Abuse at 1-800-722-0432 or submit a report online:
Division of Medi-Cal Fraud and Elder Abuse
P.O. Box 944255
Sacramento, CA 94244-2550
Office: 916-621-1834
Email: dmfeaoutreach@doj.ca.gov
Financial elder/dependent adult abuse is any theft or embezzlement of money or any other property from an elder. Taking money from a wallet, manipulating an elder to turn over money, or using an elder’s phone for long-distance calls can all be considered financial abuse. This is a serious form of abuse as it can leave elders unable to provide for their needs and fearful of what tomorrow will hold. Some examples of financial elder abuse include:
- Stealing money, jewelry, and personal possessions.
- Intercepting cash or checks.
- Fraudulently convincing an elder to hand over money and/or personal belongings.
- Telemarketing fraud.
- Identity theft.
- Predatory lending and home sale scams.
- Home improvement scams.
- Not paying for a share of costs in nursing homes.
- Befriending an elder for elaborate gifts (cars, trips, loans, etc.).
- Power-of-Attorney fraud.
- A caretaker stating they are having a rough time financially.
Examples of Financial Abuse include:
- Cashing checks without authorization/permission.
- Forging an elder’s signature.
- Misusing or stealing an elder’s money or possessions.
- Coercing or deceiving an elder into signing documents such as a contract or will.
- Improper use of conservatorship, guardianship, or power-of-attorney.
Signs and symptoms of Financial Abuse:
- Significant withdrawals from the elder’s accounts.
- Sudden changes in the elder’s financial condition.
- Items or cash missing from the elder’s household.
- Adding additional names on a bank signature card.
- Unpaid bills despite having enough money.
- Providing unnecessary services or subscriptions.
- Unapproved withdrawals of funds using an ATM card.
- Unexplained sudden transfer of assets.
- Elder signs over their will to a neighbor or friend.
- Appearance of a stranger who begins a new close relationship and offers to manage the elder’s finances and assets.
- Elder is isolated or lonely with no visitors or relatives. Family members or caregivers isolate the individual, restricting the elder’s contact with others.
Who might be an abuser:
- Family members – may commit financial abuse out of a sense of entitlement.
- Caretakers – may persuade a client to give him or her money or steal valuables from the client’s home or room.
- Neighbors – sometimes have the opportunity to steal from the elderly, particularly if they frequently perform chores for them, and like family caretakers, feel entitled to compensation.
- Professionals – lawyers, bankers, financial advisors, and others find ways to cheat the elderly by engaging in deceptive billing practices or by embezzling funds.
In at least one incident here in Marin Valley, the abusers managed to get HCD in Sacramento, to change the name on the ownership of a resident’s home, so when they died, the criminal tried to sell the home. This was stopped but not without very expensive lawyer fees and great upset to the family involved.
So be nosey if it doesn’t look or feel right and ask questions. Talk with Matt.
FINANCIAL ELDER ABUSE REFERENCES
Marin County Financial Abuse Specialist Team (FAST) are the people who gave the presentation:
https://bit.ly/3BchliH
(415) 473-7423
email mvanderscoff@marincounty.org
National Council on Aging
www.ncoa.org
Marin County Adult Protective Services
(415) 473-2774
Department of Business Oversight – Protect Yourself from Fraud
bit.ly/3uPEUcL
Federal Trade Commission (FTC) – Protecting America’s Consumers
www.ftc.gov
Save and Invest –Fighting Fraud 101
bit.ly/3IHxgXM
Senior Medicare Patrol – Protect Yourself and Loved Ones from Medicare Fraud
www.smpresource.org/
Area Agency on Aging
www.marinhhs.org/area-agency-aging
Long Term Care Ombudsman
www.marinhhs.org/long-term-care-ombudsman-program
Legal Aid of Marin
www.legalaidmarin.org/
County of Marin Information & Assistance (References to available county services)
(415) 473-INFO (4636)
Adult Protective Services and 24-Hour Hotline
(415) 473-2774
If you believe an elder is in danger or a crime has been committed,
Call the Police – 911