PROTECT YOURSELF by Mark Winter, as published in the Marinscope family of newspapers.

With the increase in our senior population, unfortunately comes an increase in financial abuse targeted at this growing population. Federal statistics estimate that nearly 200,000 Californians fall victim to elder abuse each year.

Financial abuse comes in many different forms. Seniors are often victimized by the people they trust most, including family members and caregivers. Telemarketing scams are becoming more common, as are fraudulent home-repair scams, phony investment opportunities, and foreign lottery scams. These abusers are cunning, and often create a false sense of trust. Once a physical or emotional dependence is created, they are apt to coerce by using embarrassment or isolation tactics. Although the local District Attorney’s office takes these crimes seriously, they often go unreported due to possible embarrassment, confusion, or dependency on the perpetrator.

There are many things that one can do to protect themselves or their loved ones from financial abuse. First, we can keep an eye open for warning signs including unusual or erratic banking activity, noticeable changes in the elder’s behavior, or signs of undue influence. It is not uncommon for victims of elder abuse to suddenly act confused, withdrawn, or apprehensive. Seniors should know that it is their right NOT to be threatened or intimidated. Plan ahead to make sure that your finances are handled the way you wish. Build a relationship with the people who handle your finances. Check the credentials and references of anyone that is involved in your finances, and build these relationships slowly to establish trust. Always review proposals in writing, and never sign anything that you do not fully understand. Finally, after covering your bases, feel free to say no. After all, it’s your money!

What more can be done to protect oneself? The important thing is to keep alert, and stay ahead of the ball. To avoid telemarketers and potentially deceitful scams, keep your ears open about the Federal Trade Commission’s “Do Not Call” list. This free service should be kicking in July 2003, and is a database of people that do not want to be bothered by phone solicitors. It will be illegal for most telemarketers to call a number listed on the registry. Second, write down this number: 1-800-275-2677. Seniors Against Investment Fraud is a program run by the California Dept. of Corporations. You can call this number prior to purchasing any type of financial product, and they will provide you with company background info and help identify “red flags” BEFORE you spend a dime. Remember… research before you sign anything.

If you suspect that abuse of a senior has, or may occur, always err on the side of caution and report the incident. The appropriate agency to contact is Marin County’s Adult Protective Services at 415-507-2774. They are available 24/7 to respond to all reports of suspected abuse. The reporting party is kept confidential. Remember, your intervention can often save the assets, health, dignity, or even life of an elder.

*Mark Winter is President of HIRED HANDS INC., a local company that provides a wide range of non-medical Home Support Services for the elderly. He can be reached @ 415-884-4343 or Mark@hiredhands.net.