What is the Difference Between Elder Fraud and Elder Financial Abuse?
What is the Difference Between Elder Fraud and Elder Financial Abuse ? The financial victimization of people, especially the older population, is a tale as old as time. When the elderly become the target of financial exploitation schemes, two practices emerge as the leading ways the elderly get caught up in such schemes - elder fraud and elder financial abuse. At the crux of the two is the identity of the perpetrator. Elder financial abuse is often committed by people in positions of trust. Elder fraud is committed by predatory strangers. Majority of Fraud and Financial Exploitation Victims Performed Poorly on Cognitive Functioning and Financial Decision Making According to the National AdultProtective Services Association (NAPSA), most fraud victims do not have trusted family or friends assisting them with their financial decisions when they become the targets of the elder financial abuse or elder fraud perpetrators. NAPSA investigated this issue head-on in a study on...