Lawyers, insurers and advisers vie with scammers to exploit elderly


Already targeted by phone scammers and greedy relatives, elderly Americans have a "bull’s-eye” on their backs, one Iowa assistant attorney general who specializes in elder abuse cases said, adding that the problem is only getting worse.

NEW YORK: Terry Ann McIntosh’s financial nightmare began four years ago, soon after she hired a caregiver through a family services website.

McIntosh, then 75 and in a wheelchair, had assumed that the young woman who eventually showed up at her San Mateo, Calif., home wouldn’t steal from her. She was wrong.

In October 2015, Meletofetofe Uhila began logging into McIntosh’s Bank of America account, using the older woman’s credentials.

The first time, Uhila attempted to transfer $10,000 into her own account. The bank blocked it, requesting that McIntosh call in to verify her identity. Uhila called instead, pretending to be her.

Though Uhila failed the bank’s security questions, and McIntosh had never made a similar transfer in all the years she held the account, the bank allowed it to go through. Unaware, McIntosh continued to visit her branch every week, as she had done for the past 15 years. No bank employee ever mentioned the transaction.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Industry tracker: Samsung returns to top of the smartphone market
OpenAI comes to Asia with new office in Tokyo
FBM KLCI slips further as equities rout continues
Abdul Rahman Ahmad appointed president, chief executive of PNB
China's Q1 GDP growth solid but March data shows feeble demand
KTI Landmark inks underwriting deal with M&A Securities
The pursuit of sustainability by Westports
Ringgit opens lower vs greenback on strong US retail sales
Yeoh siblings the biggest gainers on Forbes 50 richest Malaysians list 2024
Oil prices rise as Israel weighs response to Iran attack

Others Also Read