LUBBOCK, Texas — October is Elderly Financial Exploitation Month and EverythingLubbock.com learned about the most common forms of financial exploitation and preventative measures.
“We want to talk about it because people don’t talk about it,” Marci Leffer, Community Engagement Specialist at Adult Protective Services (APS), said.
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According to Leffer, in 2023 Texas had 13,380 reported exploitation cases, 292 of those in the Lubbock area. Leffer explained there are two types of financial exploitation: financial abuse (when the perpetrator is someone the victim knows) and financial fraud (when the perpetrator is a stranger). APS deals with financial abuse, but Leffer provided tips for both situations.
Once elders realize they’ve been financially exploited, they are overcome with embarrassment making them unlikely to tell anyone. Prevention, according to Leffer, starts with being educated.