Study for the Certified Bank Secrecy Act Professional Test. Use flashcards and multiple-choice questions with hints and explanations. Get exam ready!

Multiple Choice

Which describes elder theft?

Elder theft involves someone the elder trusts who has access to the elder’s funds or property, such as a caregiver or a family member, using that position to steal. The defining element is the exploitation of trust and access within a caregiving or familial relationship, where the perpetrator takes advantage of the elder’s vulnerability. That’s why the scenario of a trusted individual stealing from an older adult fits best. The other options describe different situations: theft by strangers lacks the trusted relationship; the elder stealing from others is not theft against the elder; and fraud by a financial institution is wrongdoing by an institution, not an individual abusing a trusted position with the elder. For example, a caregiver secretly taking money from the elder’s bank account illustrates elder theft.

Elder theft involves someone the elder trusts who has access to the elder’s funds or property, such as a caregiver or a family member, using that position to steal. The defining element is the exploitation of trust and access within a caregiving or familial relationship, where the perpetrator takes advantage of the elder’s vulnerability. That’s why the scenario of a trusted individual stealing from an older adult fits best. The other options describe different situations: theft by strangers lacks the trusted relationship; the elder stealing from others is not theft against the elder; and fraud by a financial institution is wrongdoing by an institution, not an individual abusing a trusted position with the elder. For example, a caregiver secretly taking money from the elder’s bank account illustrates elder theft.