But those closest to us actually have far easier access to the information needed for financial exploitation because we know and trust them. Anyone with income or assets of any age can be a victim, according to Federal Trade Communication statistics.
Especially those who live on fixed incomes, like Social Security or SSI benefits, need to look out for their future well-being by planning for financial protection.
Looking back, the fast pace of change had made it more difficult and frustrating for Jerry to handle his finances the way he used to. He neglected checking his bank statements and other account records. His wife had died less than a year before, and he was still sad and lonely.
Jerry’s lack of interest in financial paperwork had allowed his granddaughter Ana to clean out most of his bank account without his knowing it. He had always trusted her.
Without his permission, Ana had set up new credit card accounts in his name and run up high charges. She had a lot of computer savvy and took advantage of him and the merchants. She had no intention of paying for the credit card charges.
As many others have learned, the “family thief” can create online accounts that the victim is blocked from opening or reviewing because they don’t have the passwords.
Jerry didn’t want to face the reality that his granddaughter used illegal drugs and was always asking him for money. Ana justified her taking his funds along the lines of “you have it, I need it now, I’m taking it.”
Those with drug problems or even long-held family grudges can view their fraudulent actions as fair and appropriate.
Even when warned, family members often fall victim to the ploy for funds more than once.
When Jerry’s missing funds were discovered, the option of getting help from law enforcement was a serious step. He wanted to get his money back but was reluctant to pursue criminal prosecution for fraud and theft against Ana. She was already in trouble for stealing from the company where she worked.
Looking for light at the end of the tunnel, Jerry contacted West Virginia Senior Legal Aid and faced facts. The option of going to court for a financial exploitation protective order from civil court could provide protection that wouldn’t involve criminal proceedings. The protective order would keep Ana from contacting him or coming to his house and taking things, but it wouldn’t involve her going to jail.
Jerry realized he was a victim of identity theft and that the effects would likely go far beyond the present. The ramifications and headaches could show up for years. Higher insurance premiums and interest rates on loans and credit card accounts, as well as a bad credit score and record, were on the horizon unless he took care of cleaning up the problem. A family member offered to show him how to do that.
Sad to say, ignorance of protective measures and confusion about what’s happening actually increase the risk of financial exploitation.
West Virginians age 60 and over can get help to avoid financial exploitation or with other legal issues by calling West Virginia Senior Legal Aid at 800-229-5068. The staff attorney can provide assistance at no charge.
Full Article & Source:
.webp)