Who wins from elder financial abuse?

Elder financial abuse can be done in many ways, and there are a lot of people that can take advantage of that. As we said before, because of their poor state, the elderly can’t take care of themselves or their assets as they should be. So there are various examples of people who know that and profit from that.

Whether we speak about telemarketers, or a scam artist who sees right through the elder one’s financial status, many people would use their influence and persuasion to convince someone to transfer their money. But one of the most common forms of elder financial abuse is made by the family, who generally has a direct relationship with the elder one.

About 90% percent of financial abuse is made by family, rather than someone in a care facility center. The abuse might involve disputes about a possible inheritance, unusual bank activity or new friends that hang around hoping they’d get some money from their elder friend.

As unpleasant as it might be, if you believe you might be suffering from financial abuse or you want to know what to look after, this might help you. Let’s see 10 examples of elder financial abuse and what can be done against it.