Portland Elder Financial Abuse Attorney
Protecting the Elderly Against Financial Abuse
Financial fraud is the fastest growing form of elder abuse in the United States, in fact it is often referred to as the “Crime of the 21st Century.” Vulnerable seniors are routinely targeted in financial scams, but only a percentage of these cases are actually reported. A recent study found that only 1 in every 25 cases of elder financial abuse is reported to law enforcement—which means that very few of the 5 million seniors who are targeted in financial scams each year are able to seek justice against their abuser.
While some victims are too embarrassed or fearful to report the crime, the Law Offices of Timothy Grabe encourages you to take a stand if you or someone you love has been financially abused. You deserve the chance to seek compensation for the losses that you have suffered, and our Portland elder financial abuse attorney can remain by your side.
How to Avoid Some of the Most Common Financial Scams
Scam artists will typically target the elderly because they are perceived to be vulnerable—either because they are isolated, lonely, mentally disabled or unfamiliar with handling their own finances.
This, in turn, makes it easier for the scam artist to pose as a trustworthy helper. For this reason, it is extremely important that all seniors and their loved ones remain wary of an overly caring stranger.
Some of the most common financial scams include:
- Telemarketing Scams: Dishonest telemarketers make an estimated $40 billion each year by selling fake goods, conducting credit card or investment fraud, carrying out lottery scams or even stealing identities. Just to be safe, you should avoid doing business over the phone.
- Sweetheart Scams: In a “Sweetheart Scam,” a con artist will attempt to woo a vulnerable senior by convincing them that they love and care for them. In turn, they will ask for gifts or request that they be named on bank accounts or property deeds. Soon thereafter, they disappear.
- Bogus Product Scams: In some cases, a con artist will attempt to sweet-talk an unsuspecting senior into buying a bogus product at a bargain price. While it may initially sound like a good deal, the victim is usually left with nothing more than a well-padded rock.
- Property Scams: Some seniors are duped into parting with their homes because a scammer has convinced them that it is for their own good. The victims are usually isolated and/or unfamiliar with handling their own finances, which can cause them to be overly trusting.
- Lottery Scams: Lottery scams are among the most popular, as con artists will convince their targets that they have struck it rich overnight. The winner is asked to wire money for “taxes and fees” before they are able to collect their prize, but it never actually comes.
- Home Repair Scams: Scammers have been known to scour neighborhoods with a high concentration of elderly residents and offer up their services for home repairs. After accepting their payment up-front, the dishonest handymen will pretend to implement the promised repairs.
Think you have a case? Your initial consultation is free.
If you or your elderly loved one has been defrauded by a dishonest scammer, you should not hesitate to fight back. With over three decades of experience, our Portland personal injury attorney from the Law Offices of Timothy Grabe, you can seek rightful compensation for the losses that you have suffered. Money won’t be an issue when you turn to our firm for help, as you won’t be expected to pay for our services unless we win your case.
It also won’t cost you a thing to take advantage of a free initial consultation, so we encourage you to get started today by giving us a call at 503-223-0022 or submitting a complimentary case evaluation form online.