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Elder Financial Abuse And Scams Are Common In Texas Nursing Homes

It’s a common story: an elderly man is diagnosed with dementia and soon needs a caregiver to help him with even the simplest parts of his life, including buying groceries and paying bills. However, it is only after the senior dies that family members realize that the person they hired to help their loved one was slowly stealing all of his life savings.

Unfortunately, elder financial fraud is rampant in nursing homes throughout Texas as well as in caregiver situations. In fact, a new program involving Houston doctors is now teaching health professionals to look for the signs of elder financial abuse and senior scams when they treat patients. Still, however, many people do not know the full extent of elder financial abuse or that their loved one could be affected by nursing home staff, a nursing home director, a caregiver, or even a stranger.

Why are the elderly especially susceptible to financial fraud? Scientists say that seniors lose some brain functions that make them adverse to risk, while many suffer from memory issues and loss, often caused by dementia and Alzheimer’s disease. At the same time, seniors may be less likely to ask for explanations or fully understand something – simply because they don’t want to bother or look confused.

The best protection an elder loved one has is a trusting friend or relative to look after them and be watchful to schemes and scams. Be wary of new investments, “prizes” that have been won, or people who seem a little too friendly for no reason. In some cases, having the bank contact you if there’s been a large withdrawal can help you stop financial fraud from taking place – or going on for years.

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