becoming more and more sophisticated.
There is no shame
in falling victim to financial exploitation.
One of the best
defenses for prevention is educating yourself and others about what financial
scams look like, tactics scammers will try, and knowing your rights because
financial scams are everyone’s business.
Learn more below.
What is Financial Exploitation?
Financial exploitation is the illegal or improper use of another person’s money or property for personal profit or gain.
The following Kansas
statutes explain in detail the definition of financial exploitation of
certain adults and the circumstances considered mistreatment of a
dependent or elder adult:
39-1430 - Abuse, neglect or financial exploitation of certain adults;
definition of Financial exploitation
"Financial exploitation" means the unlawful or improper use, control
or withholding of an adult's property, income, resources or trust funds by any
other person or entity in a manner that is not for the profit of or to the
advantage of the adult. "Financial exploitation" includes, but is not
- The use of deception, intimidation,
coercion, extortion or undue influence by a person or entity to obtain or use
an adult's property, income, resources or trust funds in a manner for the
profit of or to the advantage of such person or entity;
- the breach of a fiduciary duty, including,
but not limited to, the misuse of a power of attorney, trust or a guardianship
or conservatorship appointment, as it relates to the property, income,
resources or trust funds of the adult; or
- the obtainment or use of an adult's
property, income, resources or trust funds, without lawful authority, by a
person or entity who or trust funds.
21-5417 - Mistreatment of a dependent adult;
mistreatment of an elder person.
Mistreatment of a dependent adult or an elder person is knowingly committing
one or more of the following acts:
(2) taking the
personal property or financial resources of a dependent adult or an elder
person for the benefit of the defendant or another person by taking control,
title, use or management of the personal property or financial resources of a
dependent adult or an elder person through:
- Undue influence, coercion, harassment, duress, deception, false representation, false pretense or without adequate consideration to such dependent adult or elder person;
- a violation of the Kansas power of attorney act, K.S.A. 58-650 et seq., and amendments thereto;
- a violation of the Kansas uniform trust code, K.S.A. 58a-101 et seq., and amendments thereto; or
- a violation of the act for obtaining a guardian or a conservator, or both, K.S.A. 59-3050 et seq., and amendments thereto
What Do I Do if I’ve Been Scammed?
STOP. VERIFY. REPORT.
It’s Your Right
Financial scammers are everywhere, but you have the ability and the right to avoid them.
It’s your right to not engage. It’s OK to hang up the phone, throw away a piece of mail, or simply say, “No, thank you.”
Exercise caution and trust your instincts. If something seems concerning, out of place, or ‘too good to be true,’ it’s your right to seek independent verification of the person or business contacting you; it’s your right to say ‘no’ to requests for money from anyone; and it's your right to terminate contact with the individual or business.
Common Types of Scams
Sweepstakes, Charity, Lottery Scam – Perpetrators claim to work for a charitable organization to gain victim’s trust, or claims victim won a lottery or sweepstakes, which they can collect by paying a “fee”.
Romance Scam – Perpetrators pose as interested romantic partners on social media or dating websites.
|Tech Support Scam – Perpetrators pose as technology support representative and offer to fix non-existent computer issues for money.|
Government Impersonation Scam – Perpetrators pose as government employees and threaten to arrest or prosecute victims unless they agree to pay.
|IRS Scam – Perpetrators claim victim owes money for unpaid taxes or missed paperwork deadline.|
|Grandparent Scam – Perpetrators pose as a relative, usually a child or grandchild, claiming to be in immediate financial need.|
How to Protect Yourself
Make sure you know how to spot and stop a scam.
Get More Help
Every year, thousands of older adults in Kansas become victims of financial exploitation, jeopardizing their financial independence.
Use free or affordable services to manage your finances and contact information and to help you avoid or correct the harmful effects of financial exploitation.
Free Credit Reports
Annual Credit Report Request Service
P.O. Box 105281, Atlanta, GA, 30348-5281
Credit Bureaus/ Credit Freeze
A credit freeze limits third parties from accessing your credit reports and may prevent certain types of identity theft. You may be charged a fee of up to $5.00 to place or remove a security freeze. Generally, there is no charge for victims of identity theft.
To place a credit freeze, contact:
Reduce telemarketing and potential scam calls by registering with the National Do Not Call Registry. Registration is permanent unless you remove your phone number from the list.
National Do Not Call Registry