News & Analysis as of

Elder Abuse Exploitation

Ballard Spahr LLP

FinCEN Issues Reminder to Financial Institutions to Identify and Report Elder Financial Exploitation

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On June 14, 2024, President Biden declared June 15th World Elder Abuse Awareness Day.  In honor of the day, the Financial Crimes Enforcement Network (FinCEN) reminded financial institutions (FIs) to remain vigilant in...more

Foster Swift Collins & Smith

Elder Financial Abuse: What to do if it's in the Family?

People preying on the elderly to get at their life savings, unfortunately, has become a common occurrence in today’s society. We have all heard stories about an elderly person being targeted and falling victim to an...more

Ervin Cohen & Jessup LLP

Misconceptions About The California Financial Elder Abuse Act

According to the California Department of Aging, more than 200,000 older and dependent adult abuse cases are reported each year. Many more cases certainly go unreported....more

Ballard Spahr LLP

FinCEN Issues Analysis of Increasing Elder Financial Exploitation

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The Financial Crimes Enforcement Network (“FinCEN”) recently issued a Financial Trend Analysis (“Analysis”) focusing on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation...more

Lowndes

Protecting Elderly Loved Ones: The Role of Guardianship Practices

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As our loved ones age, it becomes increasingly important to remain close and vigilant. While family members often serve as primary caregivers, it's crucial to recognize that not all instances of elder exploitation stem from...more

Stark & Stark

[Webinar] Estate Planning Series: Avoiding Financial Exploitation of the Elderly – Agencies and Guardianships for Adults - Session...

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Aging loved ones, particularly who are struggling, can quickly find themselves in unique and challenging situations. Today’s world poses a host of challenges for those with diminished capacity. Learn what options might be...more

Stark & Stark

[Webinar] Estate Planning Series: Avoiding Financial Exploitation of the Elderly – Agencies and Guardianships for Adults - Session...

Stark & Stark on

Aging loved ones, particularly who are struggling, can quickly find themselves in unique and challenging situations. Today’s world poses a host of challenges for those with diminished capacity. Learn what options might be...more

Troutman Pepper

Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot — The Consumer Finance Podcast

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Join Troutman Pepper Partners Chris Willis, Mary Zinsner, and Dave Gettings for an in-depth discussion about litigating elder financial exploitation cases. Elder abuse and financial exploitation of the elderly are increasing...more

Troutman Pepper

Massachusetts AG Announces Creation of New Elder Justice Unit, Appoints Experienced Health Care Prosecutor As Head

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Massachusetts Attorney General (AG) Andrea Joy Campbell announced the creation of a new Elder Justice Unit, which will use existing resources to protect and promote the safety and well-being of elders through enforcement...more

Obermayer Rebmann Maxwell & Hippel LLP

“I Care a Lot"...about your money - Financial Exploitation of the Elderly

If you haven’t seen the Netflix film “I Care a Lot,” SPOILER ALERT!!!! – Rosamund Pike portrays a professional guardian who, with the help of a crooked doctor and oblivious judge, has elderly persons declared incapacitated,...more

Miles Mediation & Arbitration

Preying on Seniors: Preventing Elder Financial Abuse

It’s sometimes said that growing older is a privilege. Even so, aging can cause concerns about health issues, financial security, and family relationships. Every year it is reported that family members or “friends” with...more

Dentons

Resident, Dependent Adult, and Older Individual Act Summary

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On July 1, 2022, Iowa’s first broad elder abuse criminal law went into effect after being passed by the Iowa House and Senate unanimously. The Act is entitled “Resident, Dependent Adult, and Older Individual Protection Act.”...more

Ballard Spahr LLP

FinCEN Warns Against Elder Financial Exploitation

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On June 15, FinCEN issued an Advisory on Elder Financial Exploitation (“Advisory”) to warn financial institutions about the rising trend of elder financial exploitation (“EFE”), which FinCEN defines as “the illegal or...more

Faegre Drinker Biddle & Reath LLP

Having a Senior Moment: Recent Legislation and Rules to Protect Seniors from Financial Exploitation

In recent years there has been a spate of legislation and rules passed to protect senior investors. Similarly, observers of FINRA’s and the SEC’s annual priorities will, of course, have noticed both bodies’ inclusion of elder...more

Hendershot Cowart P.C.

Worried About Elderly Financial Abuse by Family Members? Here’s What to Do

Hendershot Cowart P.C. on

As the elderly population increases, it is becoming more common for adult children to step in to help with financial decisions. The children may find themselves being in charge of a parent’s finances if they have a cognitive...more

UB Greensfelder LLP

[Webinar] Elder Abuse: Risks, Pitfalls and How to Try a Complex Elder Financial Abuse Case - March 23rd, 2:00 pm - 3:00 pm EDT

UB Greensfelder LLP on

Join Ulmer partners Michael N. Ungar and Daniela Paez as they discuss the current regulatory landscape as well as the litigation trends and risks surrounding elder financial abuse and exploitation. They will also share an...more

Allen Matkins

Nearly 700 Reports Financial Abuse of Elders/Dependent Adults Received By DFPI

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In 2019, I wrote about a then pending proposal, SB 496 (Moorlach), to add broker-dealers and investment advisers to the category of mandated reporters of known or suspected financial abuse of elders or dependent adults. ...more

Foster Swift Collins & Smith

How FEPA Protects Michigan’s Elderly Against Financial Exploitation

In 2021, Michigan passed the Financial Exploitation Prevention Act (FEPA or Act) which took effect last September. FEPA sets forth new requirements on financial institutions to report financial exploitation of vulnerable...more

Rivkin Radler LLP

Governor Expands Definition of ‘Elder Abuse’ to Include Identity Theft

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On December 6, 2021, Governor Kathy Hochul expanded the legal definition of “elder abuse and exploitation” to incorporate identity theft in the list of eligible support services and programs for seniors through non-profit...more

Foster Swift Collins & Smith

Checking in and Reconnecting with Family this Holiday Season

This article was originally published in September 2019 and has since been updated with more current information. To say that last year’s 2020 holiday season was strange and exhausting would be a massive understatement. With...more

Ruder Ware

Governor Evers Acts to Protect Seniors

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On Friday August 6, 2021, Wisconsin Governor Tony Evers took action on six Senate bills. One of these bills, Senate Bill 17, now 2021 Wisconsin Act 76, addressed five key issues...more

Rumberger | Kirk

Legally Qualified: Protecting Against Elder Investment Fraud and Exploitation

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How can we protect seniors who may be vulnerable to financial abuse or scams? RumbergerKirk's latest Legally Qualified podcast answers this question and more. RumbergerKirk attorneys Pete Tepley and Rebecca Beers talk with...more

Rivkin Radler LLP

10 Steps to Protect Your Loved Ones From Elder Fraud Abuse

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We have an elder fraud epidemic in this country. By one estimate, one in 10 people in the United States over the age of 65 falls victim to financial fraud every year. Telephone scams, caretaker abuse and contractor fraud are...more

Faegre Drinker Biddle & Reath LLP

Further Protection for Good Samaritan Brokers: States and FINRA Continue the Push to Protect Senior Investors by Protecting...

Following the passage of last year’s federal Senior Safe Act, several states moved to beef up protections for senior investors by permitting brokers to act without liability. • Rhode Island’s Senior Savings Protection Act...more

Chambliss, Bahner & Stophel, P.C.

Tips for Preventing, Detecting, and Reporting Financial Abuse of the Elderly

Reports of elder financial abuse continue to increase, and the elderly are particularly vulnerable to scams or to financial abuse by family members in need of money. It is hard to ascertain the exact numbers of people...more

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