Tennessee Commission on Aging and Disability
Mike Hann, Executive Director
Fraud
Be vigilant about FRAUD
Stealing from the elderly
Con-artists abound in the elderly community. They know certain things about the elderly and their attitudes which makes them easy prey.
Common acts of fraud involve:
- Larceny
- Embezzlement
- Forgery
- Issuing false documents or checks
- Destruction of wills
- Breach of fiduciary duty
- Violating applicable consumer protection statutes.
Typically elderly people are somewhat financially stable. They tend to own
their homes, receive pensions, and may have excellent credit and savings in the bank.
They are also quite trusting, a trait that can be attributed to their generation
and how they were raised. Con artists know this and they exploit this for their own
gain. All elderly are at risk, but ones suffering from a debilitating
illness like Alzheimer's Disease may be especially vulnerable.
You need to know who you're dealing with
Con-artists come in all shapes, sizes and professions. They can be
fiduciaries - such as lawyers, accountants, financial advisors. Fortunately, most
are trustworthy, but there's always the one scondrel in the bunch. Con artists can
be caregivers and sadly, they can be family members,
which is quite unsettling, because they often have access to important documents and financial statements. Unfortunately,
a good deal of financial (and physical) abuse is due to the deceit of an
unsavory family member. The health guru with the
magic "cure," the phony unlicensed roving home repair guys, a slick
unscupulous telemarketer, an unproven "financial advisor," a shady nursing
home - they all work deligently toward one goal - to remove money from the
hands of the elderly.
Beware of claims of "Miracle Cures"
The ravages of old age and illness are enough to make the average person
seek relief in any form. They may feel that nothing has worked, so why
not try something else. The time and money spent chasing the "miracle cure"
could be better spent with legitimate medical professionals who truly have
the wherewithal to positively affect the quality of life. Avoid, like the plague,
anyone promising "a new cure" no matter how desperate you have become to
find a cure. Many a con-artist has represented himself as a medical
professional, whipping up useless concoctions in their "lab" and offering
these for sale at very high prices. Or someone may claim that the herbs and
vitamins they sell are all you'll ever need. And of course, when the products don't
work, and some may even harm you, they may tell you to "give it some more
time and buy some more" or they disappear. And all you have are canceled
checks and lost opportunities to have proper medical care.
It's not rude to ask questions and investigate
Be leery of anyone insisting that you must pay up front and pay often.
Recoil at the invitation of strangers to pay out large sums of money for
something they may have to sell. Check with the Better Business Bureau, your state's
Attorney General, even police, before embarking on what may be a scam to drain you or
your loved one of hard earned resources. And forget the "get rich quick"
schemes. You have got to understand that "they" can't cheat you if you know that huge profits
don't come easily or that the likelihood of your being chosen a "winner" in
some questionable contest are slim.
When a stranger calls...
Though not every company engaging in telemarketing is fraudulent, there are
others that count on keeping you on the phone until they can talk you into
giving out personal information i.e. social security number, bank account
numbers etc. Hang up! It is not rude or impolite to hang up on someone who
intends to do harm. How will you know who's who? Ask them for the business
name, a phone number, an address and their name. Then tell them you'll call
them back after checking with the Better Business Bureau. At this point, they may try to bully
you, or they may be very cooperative and polite, which can be disarming.
Follow through. Do not let them intimidate you or rush you. Contact
somebody in authority as soon as possible , and DO NOT enter any
financial agreements before you have done the homework. Better yet, unless
you are absolutely certain, do not do any business over the telephone
with strangers, period. And beware of the stranger who after repeated phone
calls refers to himself as your "friend."
Don't let embarrassment keep you from seeking help
If you or your loved one do get scammed, don't let shame keep you from reporting it to police or other legal
authorities. Do your best to keep track of
dates, times, names, and the promises made to you by a con artist. Try to document everything that occurred
by writing it all down. Quickly get to a person in a position of authority.
Your loss may or may not be recovered, but your swift action may stop the
con-artist from finding more victims. For the Alzheimer's sufferer,
remembering dates, times and names might be an impossibility - all the more
reason for responsible, trustworthy caregivers to be watchful and careful.
Consult a trusted attorney to see if there are ways
to prevent you or your loved one from becoming embroiled in some dubious financial
scheme. Caring family members have to be certain that the person or people
entrusted with the care of their loved one are trustworthy; but even under
the best of circumstances, it would not hurt to be forever watchful.
Contact state agencies to get information on nursing home reputations
Misappropriation of funds can also result from dealing with shady nursing
homes. Some may be involved in Medicare fraud, charging for services that
were never performed, or medicines that were never dispensed. Some may
even attach liens to property like vehicles or real estate when there
was no agreement or reason for such. Most states have some sort of regulatory agency that oversees the
operations of nursing homes. It is wise to check for appropriate licenses,
references and state agency ratings before placing your loved one in the
hands of unregulated facilities.
The following are some of the
indicators that financial exploitation may be taking place:
- Bank statements and checks no longer come to the elder's home
- The elder is being isolated from others
- Living conditions are below the elder's ability to pay
- The elder is being deprived of certain items like toiletries, television, etc. even though they have the income to pay
- The caregiver refuses to spend money on the elder
- The caregiver shows open hostility to visitors
- Bills are not being paid on time or at all
- There is unusual activity on credit cards or on bank statements
- Real estate and automobile titles are being transferred to another party
- A caregiver is coercing a mentally confused elder to sign Powers of Attorney
- Valuable personal property is missing
- Important documents are missing
- Unfamiliar persons or questionable family members have moved in
Do you suspect fraud?
Click here to see a
list of sites that you can visit to learn more about fraud or to report fraud.
