FinCrimeTV Uncommon Sense Madalyn Stone

IN this episode of FinCrimeTV’s Uncommon Sense

Madalyn Stone

FinCrimeTV’s series “Uncommon Sense” recognises those who demonstrate original thought, encouraging critical thinking across the financial crime risk and compliance landscape.

Hello and welcome to Uncommon Sense on FinCrime. In this episode we are going to look at crimes against the elderly.

There are many classes of victims of a wide range of crimes and most of them are often referred to as “vulnerable”. In many cases, the term is used for effect but there are two classes of person who are vulnerable in the true sense of the word: those with inhibited mental capacity and the elderly. From the financial crime perspective, it’s easy to say it’s all about fraud but the range of frauds that target these truly vulnerable fall into two camps: there’s the same types of fraud that target everyone but the vulnerable don’t have the defence mechanisms to identify and reject them. And there are fraud that specifically target the vulnerable.

From money laundering schemes to acting as a front for fraud, from selling worthless shares to knocking on doors and claiming to be from an authority needing to do an inspection, and many more, the situation is only made worse by technology.

What can we do to help them avoid falling victim?

My guest today is Madalyn Stone, who specialises in investigating offences against the Elderly, which in the USA is termed “elder abuse” and has made an academic study of the subject. It is from that perspective that she joins us today in a personal capacity.