What is financial exploitation?

Financial exploitation refers to the act of acquiring an individual’s money or property through deceptive practices or coercive tactics. This definition encompasses various forms of exploitation, including fraud, manipulation, or intimidation that lead an individual to make financial decisions that they would not have made otherwise.

In scenarios of financial exploitation, the perpetrator often takes advantage of a person's vulnerabilities, such as age, mental incapacity, or lack of financial knowledge, to unlawfully benefit themselves. This can include exploiting relationships of trust, such as with caregivers, family members, or financial advisors.

The other options do not accurately capture the essence of financial exploitation. Wasting someone's time during business transactions does not involve any illegal or unethical acquisition of resources. Managing money without someone's consent implies a lack of authority but doesn't necessarily involve deception or coercion. Offering financial advice without credentials might be unethical or unprofessional, but it does not inherently constitute exploitation unless it leads to deceptive practices that harm the individual financially. Thus, the correct understanding of financial exploitation is centered on deception or coercion for financial gain.