By Danny Yarnall
Elder financial abuse is a growing problem. The perpetrators are not just phone scammers and greedy relatives, but professionals whose duty is to care for a disabled older adult. They gain and exploit an older adults’ trust, resulting in major financial losses. Terry Ann McIntosh, 75, was one such victim.
McIntosh was scammed by a woman she hired as a home caregiver who gained access to her Bank of America account through phone representatives despite failing security questions. No one at the bank notified McIntosh, not even during her weekly visits to her branch, according to Bloomberg News.