This is Part 2 of a two-part article on stamping out financial exploitation of the elderly in New Jersey. See last week’s blog post “Why Do Con Artists and ID Thieves Prey on Older People across NJ?” for Part 1 of this article.
You may have heard about email scams and telemarketers who pitch too-good-to-be-true deals that leave unsuspecting victims holding empty wallets. However, few people realize that criminals actually target the elderly with rip-off schemes. A MetLife Mature Market Institute study, released a few years ago, revealed that seniors in the US suffer more than $2.5 billion a year in losses due to financial abuse and fraud. Supposedly, that’s a conservative figure.
If your elderly loved one has been the victim of financial abuse – whether they were duped into falling for a scam, someone stole money or possessions, or they have been the victim of identity theft – it’s understandable that you want to hold the thief or thieves responsible for their outrageous behavior. Contact an experienced elder abuse lawyer who will help your family get the justice you want and deserve.
What Can You Do to Protect Your Loved One?
If you suspect financial abuse, you can speak to customer service departments at credit card companies and banks to set withdrawal and charging limits. You can make sure that they know to notify you of any large or frequent withdrawals or charges.
If you suspect financial elder abuse, report your concerns to the administrators of your loved one’s long-term care facility, as well as the police. These crimes, including ID theft, are punishable in New Jersey by serious jail time.
Next, contact Begelman & Orlow. We will work tirelessly to protect your loved one’s rights.