June 15, 2020 is World Elder Abuse Awareness Day.
What is Financial Exploitation?
Financial exploitation is a crime. It is the illegal use of a senior or disabled adult’s resources for another person’s profit. It occurs when a senior or a person with a disability is tricked or coerced into handing over money to a son, daughter, relative or stranger. Exploitation of more than $50 is considered a felony.
Who is a Target?
Targets are seniors who are at least 60 years old, and persons with disabilities between 18 and 59 years old.
Common Scams or Scenarios
Fake prizes- A stranger says a senior has won a nonexistent prize and asks the senior to send a check to pay the prize’s taxes, or gets the senior’s credit card number to pay for the prize’s shipping charges.
Excessive rent or service charges- A stranger charges a senior excessive rent or unreasonable fees for basic care services such as transportation, food or medicine.
Unauthorized withdrawal- An adult with a disability gives his ATM card to a caregiver so the caregiver can withdraw money to buy his groceries. The caregiver withdraws $200 more than needed and pockets it.
Tips For Protecting Your Money
• Use direct deposit for your checks.
• Don’t sign blank checks and allow another person to fill in the amount.
• Cancel your ATM card if you don’t use it.
• Don’t give anyone your ATM/ PIN number.
• Check your bank statements carefully for unauthorized transactions.
• Be cautious of joint accounts.
• Don’t sign anything you don’t understand.
• Seek advice from your own legal representative before preparing a power of attorney
To report financial exploitation of an elderly person or a person with a disability, call: 1-800-392-0210
Department of Health
and Senior Services
P.O. Box 570
Jefferson City, MO 65102-0570
www.health.mo.gov