Elder Fraud Wars: Case Histories from an Enforcement Attorney

This book explores the multi-billion-dollar elder fraud industry, the special vulnerabilities of those it targets, and the strategies for combating it. It highlights actual cases, scam artists, and fraud fighters, providing valuable insights for those working with older adults.

\n Format: Paperback / softback
\n Length: 188 pages
\n Publication date: 30 September 2020
\n Publisher: McFarland & Co Inc
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This book delves into the intricate world of elder fraud, examining the multi-billion-dollar industry that preys upon the vulnerabilities of older individuals. Through recounting actual court cases, it sheds light on the ease and frequency with which scammers obtain hundreds of thousands of dollars per victim. The cases highlight an increasingly sophisticated global industry that employs a series of repeat hits, known as "reloading," to target victims. Twelve key age-related fraud vulnerabilities are identified, showcasing the scammers' ability to map and exploit these vulnerabilities. The book features the individual stories of actual victims, scam artists, and fraud fighters, providing a range of experiences that are both inspiring and deeply disturbing. It serves as a valuable resource for readers with aging parents, law enforcement officials, medical professionals, members of the financial industry, and others who work with older adults. By understanding the tactics used by scammers and the vulnerabilities of older individuals, this book offers strategies for combating elder fraud and promoting the safety and well-being of our aging population.

Introduction:
Elder fraud is a growing concern worldwide, with millions of older individuals falling victim to scams and financial exploitation. This book aims to shed light on the multi-billion-dollar elder fraud industry, its target vulnerabilities, and the strategies employed by scammers to obtain vast sums of money. By examining actual court cases, we will explore the special vulnerabilities of older adults and the ease with which they can be manipulated. Additionally, we will highlight the important contributions made by concerned bankers, doctors, reporters, and others in the private sector to combat elder fraud.
The Multi-Billion-Dollar Elder Fraud Industry:
The elder fraud industry is a complex and organized criminal enterprise that targets older individuals with a range of tactics. Scammers use a variety of methods, including telemarketing, online fraud, and impersonation, to deceive and defraud their victims. According to estimates, elder fraud costs the United States alone over $3 billion annually, with victims losing an average of $20,000 each. The cases presented in this book illustrate the scale and sophistication of the industry, with scammers targeting individuals with a variety of vulnerabilities, including cognitive impairment, financial insecurity, and loneliness.
Vulnerabilities of Older Adults:
Older adults are particularly vulnerable to fraud due to a combination of factors. They may have cognitive impairments, such as dementia or Alzheimer's, which can make them susceptible to manipulation and deception. They may also suffer from financial insecurity, which can lead them to be easily persuaded to invest in fraudulent schemes or to provide personal information to scammers. Additionally, older adults may be lonely and isolated, making them more susceptible to emotional manipulation and loneliness.
Scam Tactics:
Scammers use a variety of tactics to target older adults, including telemarketing, online fraud, and impersonation. Telemarketing scams involve fraudulent calls or emails from individuals claiming to be from reputable organizations, such as the government or a charity. These scammers may pretend to be offering financial assistance or medical advice, or they may offer a fake lottery prize or inheritance. Online fraud involves fraudulent websites or emails that appear to be legitimate, but are actually designed to steal personal information or infect computers with malware. Impersonation scams involve scammers using fake identities, such as a lawyer or a relative, to deceive older adults into providing personal information or money.
Combating Elder Fraud:
Combating elder fraud requires a collaborative effort from the public, private, and non-profit sectors. Concerned bankers, doctors, reporters, and others in the private sector play a crucial role in identifying and reporting elder fraud cases. They can also provide financial education and support to older adults, helping them to protect themselves from scams. Law enforcement officials are also essential in prosecuting scammers and protecting older adults from further harm.
Contributions of the Private Sector:
The private sector has made significant contributions to combating elder fraud. Banks and financial institutions have implemented anti-fraud measures, such as identity verification and anti-phishing technologies, to protect their customers from online fraud. Medical professionals have also developed screening protocols to identify cognitive impairment and other age-related vulnerabilities in older adults. Reporters and media outlets have raised awareness about elder fraud, helping to educate the public and prevent more victims from falling victim.
Conclusion:
Elder fraud is a serious issue that requires a collaborative effort from the public, private, and non-profit sectors. By understanding the vulnerabilities of older adults and the tactics employed by scammers, we can work together to combat this growing industry and protect the safety and well-being of our aging population. This book provides valuable insights into the world of elder fraud and offers strategies for combating it. It is a must-read for anyone who works with older adults, as well as for individuals who have aging parents or grandparents.

\n Weight: 374g\n
Dimension: 150 x 222 x 19 (mm)\n
ISBN-13: 9781476681498\n \n