LEGAL PROTECTION OF THE HYPERVULNERABLE ELDERLY IN CASES OF BANK FRAUD

Abstract

This study examines the legal protection of hypervulnerable elderly individuals in cases of banking fraud, considering their increasing exposure to financial scams due to cognitive limitations, technological dependence, and lack of familiarity with digital banking services. The main objective is to analyze existing legal mechanisms designed to protect hypervulnerable elderly individuals and assess the effectiveness of measures aimed at preventing and remedying fraud-related damages. The research adopts a qualitative methodology, based on a literature review and legislative analysis, incorporating legal doctrines, academic articles, and current legislation, such as the Elderly Statute and the Consumer Protection Code. The findings reveal that, despite a robust legal framework, the effectiveness of legal protection still faces challenges, particularly in implementing preventive measures and ensuring elderly individuals’ access to justice. The civil liability of financial institutions plays a crucial role in fraud prevention and redress, highlighting the need for stronger public policies and financial education tailored to this demographic. The study concludes that safeguarding hypervulnerable elderly individuals requires a multidisciplinary approach, combining legal, educational, and regulatory measures to ensure more effective protection and uphold their financial dignity.