Wednesday, December 24, 2008

Financial Crimes Against Elderly

Deputy District Attorney Kim Connors, a guest speaker at a recent Realtor tour meeting, told members of the Silicon Valley Association of Realtors that financial crimes against the elderly are becoming more widespread, and the only way to prevent these scams from happening is to always keep informed and warn everybody you know about them.

Examples of financial crimes include forgery, lying to get your money (e.g., "My child is dying of cancer and needs surgery"); deceiving you into signing any document (e.g., quit claim, grant deed, will); improper use of conservatorship, guardianship or power of attorney; and cold calls.

Connors also said beware of calls or e-mails informing you that you have won the lottery.

She also warned against the "Enter to Win" cards people see and fill out at shopping centers. Always read the fine print, she cautioned, because once you fill out the information and sign the card, the fine print in many of these cards states you wave being on the "Do not call" registry.

The latest trend in fraud is the foreclosure rescue scam, which can result in equity stripping, phantom help, fake sales or fake rentals.

The elderly are especially susceptible to these crimes and very vulnerable to predators.

Full Article and Source:
District attorney talks to realtors about crimes against the elderly

1 comment:

Anonymous said...

I think the news media in general (tv news / newspapers / and AARP) deserves a grade of: D- for their disinterest in the financial predators laying in wait for the elderly and the vulnerable members of our society.

Without media co-operation and senior citizens organizations with clout and the bully pulpit to get the message out - the perps have less eyes on them to continue with their criminal activities.