Financial exploitation occurs when a person misuses or takes the assets of a vulnerable adult for their own personal benefit.
Older adults are vulnerable if they require assistance with their daily tasks either due to a physical or cognitive condition. The assets are commonly taken via manipulation, coercion, threat, deception, false assertions, or duress.
Predators often include:
- Family, friends, caregivers
- Telephone and internet scams
- Romance scams
- Financial advisors
- Contractors