Characteristics of Fraud Perpetrators

CHARACTERISTICS OF FRAUD PERPETRATORS

FRAUD PERPETRATORS ARE OF TWO BASIC TYPES:

Dysfunctional people with low self-esteem who may be abusing substances, feeling stressed, or feeling the weight of their caregiver responsibilities. They do not generally seek out their victims, but instead take advantage of opportunities that arise.

Those who methodically target vulnerable seniors, establish power, and
use that power to obtain control of the victim’s assets. Those who target the
elderly may be strangers who have never met their potential victims, or persons
who have detailed knowledge and a personal relationship with their potential
victim.

IF THE PERPETRATOR IS A STRANGER:

Most are male.
They are charismatic & controlling; building on victim’s trust - Uses promises whenever possible - Will resort to threats and intimidation if promises do not work.
They are seldom violent, but without conscience. - Not bound by conventional norms or ethics - Rationalize their behavior
They have all types of psychological dysfunctions revealed in their distorted thinking processes and lack of regard for others

They may be motivated by profit or a need to feel powerful or important.

The challenge of the fraud itself may provide a “high.”
“You have a college degree and think you are so smart; but I just took all your money. So who is the smart one?”

Often carry out their fraud without ever meeting their victim

Telemarketing fraud
Mail fraud
Internet fraud

IF THE PERPETRATOR IS A FRIEND, RELATIVE OR CAREGIVER:

60% are family members - ½ of all identity thefts in Colorado are perpetrated by a relative
60% are male.

Offenders tend to be significantly younger than their victims

40% are 40 and younger
40% are age 41-59

Offenders fall into three categories:

Adult children, grandchildren and other relatives
Professional caregivers
Close friends or others in a position of trust

Because of their relationship with the victim, these offenders often gain access to documents and assets that enable them to carry out their fraud without any direct participation from their victims.Discovery of fraud, therefore, may take longer, with greater losses

Prosecution is often hindered due to the reluctance of the victim to testify against a friend or family member.

STATISTIC: 2/3 OF ALL FINANCIAL CRIMES ARE PERPETRATED BY SOMEONE KNOWN TO THE VICTIM.
iend or family members needs to know it's OK to hang up on telemarketers. If they've been repeatedly victimized, discuss the possibility of changing their phone number; scam artists trade "sucker lists" of prior victims and the only way to get off may be to abandon the old number.

Characteristics of Fraud Perpetrators

18th Judicial District

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