Maybe because I am in finance or for whatever reason many people tell me stories of financial fraud.

The most dangerous are the ones involving finance and Senior Citizens. 

Story No. 1: 

One senior citizen without too much knowledge of banking processes and documentation asked his close relative to withdraw money from the bank. He has withdrawn and given it to the senior citizen. 

Having withdrawn once – and then regularly – he has started to withdraw regularly for HIS own needs! Thanks to the video at the ATM, the senior citizen at least knows who is the thief! Amount involved, geography, etc. I will keep it a secret….it hardly matters…

 Story No. 2

A first cousin, BANK EMPLOYEE, saying ‘I will look after all your financial requirements’ ….operated the bank account, gave her money whenever she wanted. A preliminary glance shows he has stolen about Rs. 5 million.

 In both cases fraud established, clearly. In the first case, the senior citizen says ‘how can i complain against my……’ so no complaint. In the second case the robber has told her..I have taken 50L….but have built a house…will sell the house and give you Rs. 30L. Even in this case, 20L is lost. However this is also not forthcoming. The person who told me the story says…’she was threatened, so she is not talking about it’.

God…do we need to help the senior citizens!! tell me how…

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  1. Very bad,

    For senior citizens, banks and financial institution should have a separate system where they can withdraw their money only by using their some physical identity like thumb etc. what do you say?

    Moreover, monthly statements or other report from banks should be sent to them in their local languages, and not in english.

    Though it is easy to say, but difficult to implement.

  2. Karma strikes back hahahahahahahahah

    Most seniors I meet are the cribbinb katkat types who have yet not learnt any lessons in life.

    I thot ppl evolve into better human beings as they age. In humans its the reverse.

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