Identity theft and credit card fraud are common types of senior financial abuse. In 2014, the Federal Trade commission reported that 39% of the identity theft complaints, and nearly half (49%) of fraud complaints were from those 50 years of …
Senior Financial Abuse: Healthcare Scams
Since every U.S. citizen or permanent resident is eligible for Medicare at age 65, seniors are a prime target for Medicare fraud. These scams trick seniors into providing their Medicare or Social Security number. Other healthcare scams include health insurance …
Senior Financial Abuse: Undue Influence
Undue influence is a critical part of any type of senior abuse – financial, physical, or sexual. Some seniors are more likely to be vulnerable to undue influence because they are more trusting in nature or have a reason to …
Senior Financial Abuse: Reverse Mortgage Scams
The increasing frequency of reverse mortgages has unfortunately meant that mortgage scams are also on the rise. Preying on fears of financial insecurity, scammers convince the senior that a reverse mortgage is the answer to the senior’s financial problems. In …
Senior Financial Abuse: Power of Attorney Abuse
Granting power of attorney (POA) to someone is a significant step. Having power of attorney over someone means having the right to make legal decisions for that person. Some people can use this power maliciously, causing a senior to lose …
Senior Financial Abuse: Deed Theft and Foreclosure Rescue Scams
Foreclosure rescue scams and deed theft are tricks con artists use to steal property from unsuspecting seniors. Feeding off the fear of losing their homes, many seniors believe these scammers out of desperation and are betrayed by their own trusting …
Senior Financial Abuse: Annuity and Living Trust Scams
Annuities and living trusts are well-established legal products that can help provide economic security to seniors. But some unscrupulous con artists target seniors to buy these products at a high cost or to raid their assets. They target seniors through …
Predatory Lending
Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that …
Prevent Medicare Fraud: 10 Do’s and Don’ts
From the U.S. Department of Health and Human Services 1. Don’t let anyone borrow or pay to use your Medicare ID card. 2. Don’t respond to telemarketers who say they are from Medicare or Social Security and ask for payment over the …
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