New Seminar Series to tackle serious financial issue.
What is financial exploitation? Generally, financial exploitation is viewed as a problem that affects senior citizens but it can happen to anybody, especially where the victim may suffer from a physical or mental disability.
Who are the abusers?
Perpetrators of financial exploitation can be:
- Family members and caregivers
- Friends, neighbours or acquaintances
- Persons with Power of Attorney (POA) or the legal authority to access or manage your money
- Telephone and mail scammers
- Financial advisers
- Internet scammers
- Home repair / home improvement contractors
- Other persons known or unknown to the victim
Why do you think victims can be reluctant to report financial exploitation?
- Shame and embarrassment ̶ Many people are ashamed to admit that they have been financially exploited.
- Loyalty ̶ Reluctance to report a family member, caregiver or other person who may treat them well in other ways.
- Fear of retaliation, not being believed or losing their independence by being declared incompetent and moved into a “nursing home.”
New MoneyWhizz talk discusses warning signs and the types of fraud and financial exploitation, how to protect against incidents of such and actions that can be taken if one is a victim.
Discussing the talk, Frank Conway, Founder of MoneyWhizz.org said “This is an opportunity for anybody that is concerned about their own financial well-being or that of a loved one to develop an understanding of the warning signs and actions they can take to protect against fraud and financial exploitation”
The seminars are being made available through select employers as an employee benefit.
Personal Finance 