What is elder financial abuse?

Elder financial abuse is a form of financial exploitation that targets elderly individuals. It is a serious type of fraud and involves the misuse of an elderly person’s financial resources for personal gain. This type of abuse can take many forms, including stealing money from an elderly person’s bank account, forging checks, or misusing credit cards without their consent. Elder financial abuse is particularly dangerous because it often goes unreported because the victims are embarrassed or scared to report it. In North Dakota, the Office of Elder Rights (OER) is the primary agency responsible for protecting elderly individuals from financial exploitation. They offer various services to protect elders from financial fraud, including record keeping tips, scam alerts, and resources for reporting suspected fraud. OER also works with law enforcement to investigate reports of financial exploitation and prosecute offenders. The State of North Dakota also has laws and regulations in place to protect elderly individuals from financial abuse. Under the North Dakota Century Code, financial exploitation is a felony offense that can result in jail time. Additionally, North Dakota’s Elder Abuse, Neglect, and Exploitation Act states that it is a crime to knowingly exploit an elderly individual for financial gain. By educating elders about financial exploitation and actively enforcing protective legislation, North Dakota is working to protect vulnerable elderly individuals from elder financial abuse.

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What is elder financial abuse?

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