Weisberg Law Blog

How scammers commit elder financial abuse

People who financially victimize elderly nursing home residents are guilty of committing financial abuse – and they deserve to be held accountable.  One way to stay on top of financial scammers and hucksters is to know how they operate.

The goal of interacting with a senior is to convince them to part with their money, and there are a variety of ways that scammers go about doing this:

• Telemarketing:  scammers will call seniors on the phone, and use convincing, high-pressure sales pitches to sell investments, supplements, sweepstakes, insurance or other products.  These individuals are skilled at the art of verbal persuasion, and are able to reach a large number of people.
• Postal mail or e-mail pitches:  letters or e-mails can be personalized with the victim’s name, making the letter appear legitimate.  These pitches often ask the victim to respond with a postcard, phone call or e-mail, making the offer seem innocuous.  Once the victim has indicated interest, however, the scammer will try to extort a fee for a worthless product or fraudulent service.
• In-person contact.  Some bold scammers will make a special effort to visit a victim in person, and will either launch their pitch immediately or they will take a little time to get to know the victim and gain their trust

It is important for seniors and the people who love and care for them to be alert for signs of scams and scammers.  Please don’t hesitate to get help from a skilled elder abuse and neglect lawyer if you suspect that elder financial abuse is taking place.

Labels: elder abuse elder financial abuse senior financial scam