Campaign Focuses on Educating Doctors to Protect Their Elderly Patients from Financial Abuse

Older people are one of the hottest targets for scams, and lack of financial knowledge makes them even more likely to be scammed.  The issue is becoming such a problem that the North American Securities Administrators Association is working to start a campaign aimed at reducing financial fraud against the elderly.

The campaign will include the creation of a pocket guide to which will be provided to doctors to help them determine whether their patient is a victim of financial fraud.  Among the signs are whether a patient is having trouble paying bills because he or she is confused by them or is giving away money he or she can't afford. The campaign focuses one educating doctors of the elderly because they are already attuned to their clients' medical and psychological history.

According to the FBI, the elderly are more at risk of being scammed because of the following reasons:

•They're most likely to have nest eggs, own their home and have excellent credit, all of which the crooks will try to tap.
•Individuals who grew up in the early to mid 1900's are generally more polite and trusting. This trusting nature can them be used against them.
•Many elderly fraud victims don't report the crime because they either don't know where to report it or they're too ashamed at having been scammed.

Another way we can protect older people from financial scams is to raise their financial literacy. For more, read the story.


Robert W. Carter, Jr. is a Virginia attorney whose law practice is dedicated to protecting the rights of the victims of nursing home and assisted living neglect and abuse in Richmond, Roanoke, Norfolk, Lynchburg, Danville, Charlottesville, and across Virginia.

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