Detecting Financial Exploitation of the Elderly & Compliance

June 17, 2024

Detecting Financial Exploitation of the Elderly & Compliance

Criminals are getting smarter every day and using advanced technology, such as Artificial Intelligence to scam the elderly. Loneliness also creates situations for vulnerable adults leading to romance scams.

The federal government, states, commonwealths, territories and the District of Columbia all have laws designed to protect older adults from elder abuse and guide the practice of adult protective services agencies, law enforcement agencies, and others. Basic definitions associated with elder abuse are provided as well as a link to the DOJ State Elder Abuse Statutes.

This new article also reviews government agency oversight and the Transnational Elder Fraud Strike Force, various forms of scams and how to report financial fraud other elderly to the Elder Fraud Hotline and the FBI.

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