3 benefits of detecting elderly financial abuse

VERITI CONSULTING LLC

3 Benefits of Detecting Elderly Financial Abuse

TRUTHBEHINDNUMBERS.COMCertified Financial Experts

Are the Elderly Popular Targets for Fraud?

The elderly, as a group, are one of the most

popular targets for fraud and other types of

financial abuse. Especially if they live alone

and are not as perceptive as they used to be,

they can be very vulnerable to scammers

and con artists, who will take advantage of

their decreased capabilities. Next, you’ll

discover three benefits to detecting elderly

financial abuse.


Benefit #1 It Helps Your Loved Ones

There are a number of signs that your loved one may be a victim of a scam. They include:

• Large amounts of money in bank withdrawals, checks made out (particularly to “Cash”), or credit card transactions.

• Disappearance of valuable objects around the home.

• A different-looking signature on checks or other financial documents


Benefit #1 It Helps Your Loved Ones

• A new best friend, unknown to you or the rest of your family. This can be seem harmless, but is particularly suspicious if it’s accompanied by suspicion of family or caregivers, or a new name added to their bank account.

• If you encounter any of these signs, talk to your loved one and to the bank immediately to help prevent any further exploitation.


Benefit #2 It Helps Others

• By alerting the banks, the police, your local Adult Protective Services and even an elder financial fraud consulting company to the scam, they can then spread the word to others and help prevent further victims.

• Provide as much information as possible about the scam and the people behind it (if you know), so that others can be on the watch for those signs and avoid falling prey to the same scam.


Benefit #3 It Helps Catch the Guilty Party

• The more information you can provide about the scam, the easier it will be to catch the person responsible.

• Particularly if the scam comes in the form of a “new friend,” you’d do well to get a detailed description of them and find out as much about them as you can.

• Sharing this information with the police will put them on alert the next time this friend pops up.


Benefit #3 It Helps Catch the Guilty Party

• Even if you never see the person—if the scam takes place over the phone or e-mail—providing the police with details of the scam, the name the person used, name of any company they claimed to represent, etc. will help them recognize the scam more easily in the future and put them one step closer to catching the guilty party.


THANK YOUTHANKS FOR REVIEWING THIS

PRESENTATION

PRESENTATION BY: VERITI CONSULTING LLC8111 E. THOMAS RD. #120 SCOTTSDALE, ARIZONA 85251

TEL: (877) 520-1280 • EMAIL: [email protected] WWW.TRUTHBEHINDNUMBERS.COM

EXPERT TEAM


Liz Monty, CPA/ABV, CFF, CFE, CVA, DABFA

Managing Director

John White, MBA, CPA/ABV, CFF, CFE, CBA, CrFA, ASA

Managing Director

CONTACT VERITI CONSULTING LLC

CONNECT WITH EXPERIENCED FRAUD, FORENSIC & ECONOMIC DAMAGES EXPERTS

CALL: 877-520-1280EMAIL: [email protected]

PRESENTATION BY: VERITI CONSULTING LLC 8111 E. THOMAS RD. #120 SCOTTSDALE, ARIZONA 85251

TEL: (877) 520-1280 • EMAIL: [email protected] WWW.TRUTHBEHINDNUMBERS.COM

3 benefits of detecting elderly financial abuse

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