"We can't believe how much we received from the estate sale profits. We paid for Mom & Dad's move to the senior living facility and added some $ to their savings which is great and the estate sale comapany did the work"

Elder Fraud Overview

Elder or Senior Fraud has recently become one of the fastest growing areas in crime. There are some very reputable companies that service the Senior Market and do a great job but there is also a growing minority that try and take advantage of our seniors.

Types of Business that have been targeted by fraudulent companies

Health Care Fraud (Example: fake medical testing vans in malls)
Preplanning of Funerals and Burial Plots
Investment Scams
Counterfeit Prescription Drugs
Anti-Aging Products
Reverse Mortgages

Why Target Seniors?

Sometimes Large Nest Eggs / Recurring SS Checks
Many Seniors were raised in 30’s, 40’s and 50’s – Polite & Trustworthy
Excellent Credit
Not sure where to report cases (Studies show only 2% – 5% cases get reported)
Can be poor witnesses due to eyesight, hearing and even dementia.

Action Step: When suspicious of a strange phone call or somebody at your door, hang up or shut door and call family or friends and explain situation.

Action Step: If you feel or suspect you were part of a fraud, you should call the Police.

Golden Nugget: Some families have been successful by setting a dollar amount that brings others in decisions. The dollar amount may be $100 in some situations and $1,000 in others. Access to the senior’s checking account and weekly spot checks should help discover issues quickly.