Elder Financial Abuse

The illegal or improper use of an older person's funds, property or other assets, most often carried out by a family member, caregiver, or a person in a position of trust, through means including outright theft, coerced changes to a will or power of attorney, or a fraudulent investment scheme specifically targeting older victims. It is recognized by adult protective services agencies and law enforcement bodies in a number of countries as a distinct and significantly underreported category of financial crime, in part because a victim dependent on the abuser for care may be reluctant or unable to report the abuse, and a substantial number of jurisdictions have enacted enhanced criminal penalties or mandatory reporting requirements specifically addressing financial exploitation of an older or otherwise vulnerable adult.