Financial Awareness in Delaware County, PA

Do you know the signs to watch for to avoid fraud and scams?

August 14 is National Financial Awareness Day! We’re discussing the differences between financial abuse and financial fraud. You’ll also find two resources around elder law. Read the blog to learn more.

What’s the Difference Between Financial Abuse and Financial Fraud?

The U.S. Department of Justice Elder Justice Initiative (EJI) combats financial fraud and scams that target older adults. One of their focus areas is financial exploitation. This includes financial abuse and fraud. Financial abuse differs from financial fraud in that abuse is committed by someone you know. Conversely, fraud is committed by a stranger. Strategies for spotting financial abuse might differ depending on who you’re speaking with:

• Power of attorney: You or a senior loved one might name an agent to make financial decisions for you. If that agent takes your money or belongings, that is a form of abuse.
• Professionals: When lawyers and brokers take money from your account for themselves, that is a form of abuse.
• Other people you may know: Financial abuse also includes situations where someone you know uses your debit or credit card without asking. Or, they might forge your name.

Strangers may try to commit financial fraud through scams like:

• Imposter scams: Someone may claim to be a romantic partner, a government official, or a relative. They might say they need help, or that there is a problem with your financial accounts. Their goal is to steal money and information. Stay alert when interacting with strangers on dating sites and over the phone.
• Lottery/sweepstakes/investment scams: Be careful if someone reaches out unexpectedly offering a sweepstakes win, lottery prize, gift, or investment opportunity.
• Technical support: Someone might try to tell you there is something wrong with your computer over the phone, email, or via a computer pop-up. Double-check who you’re talking to before you let them remote into your device.
• Phishing: If you get an email or text message asking for your password, Social Security number, credit card number, etc., double-check where the request is coming from. It may be someone looking to steal information.

Where Can I Find Elder Law Assistance in PA?

• Anderson Elder Law specializes in elder law, estate planning, estate administration, and special needs planning. Two of their team members are Certified Elder Law Attorneys (CELAs). CELAs have advanced training in elder and special needs services. You can set up an intake call through their website. From there, you’ll discuss what strategies might work best for your situation. You’ll have their assistance throughout the whole process.
• SeniorLAW Center is a nonprofit law organization. Founded in 1978, their work protects the legal rights of older adults. You can access direct legal services and representation for elder abuse and financial exploitation. Pro bono attorneys volunteer to assist with advance life planning services. This may include free assistance with simple wills, living wills, and advance health care directives. Anyone looking for services in the state of Pennsylvania can reach out to the SeniorLAW HelpLine to get started.

Who is Griswold?

We’re Griswold, a home care provider in Delaware County. We offer a variety of non-medical services like companionship, homemaking, and personal care. We can also assist with respite care services if you’re a family Caregiver looking for a break. Or, if looking for something around-the-clock, 24-hour care, live-in care, or overnight care might be right for you. You can give us a call any time at our office in Havertown to learn more!