Apr 02, 2008 17:05 ET
San Francisco Summit Honors Leaders in Elder Financial Abuse Prevention
300 Advocates Gather to Share Best Practices
SAN FRANCISCO, CA--(Marketwire - April 2, 2008) - A geriatric physician, a lawyer, a retired L.A. police detective and a banker received awards last Thursday for their work in combating financial crimes against the elderly.
Dr. Laura Mosqueda of UC Irvine, Prescott Cole, senior attorney for California Advocates for Nursing Home Reform, Chayo Reyes, retired LAPD detective, and Roberta Wong of Bank of the West were honored by San Francisco-based nonprofit Elder Financial Protection Network (EFPN) for their work in fighting the growing crime of elder financial abuse.
Theft and scams against the elderly are on the increase because seniors are an increasingly bigger share of the population. The elderly are also prime targets for predators "because they have lived a lifetime of productive work," Harris said. "They have acquired assets -- property, cash and jewelry. They are at a stage in life when they may be experiencing the onset of dementia. They may be vulnerable because they must rely on others for their physical care."
The perpetrator may be a family member, caregiver, trusted financial advisor, telephone scam artist or unscrupulous insurance agent, such as the one who sold a $650,000 annuity to a 93-year-old man with dementia. Reporting and prosecution are hindered by harsh reality.
"The elders don't report," said Harris. "They don't want you to think they can't take care of themselves. They want to be treated with dignity."
Abridged
SOURCE: marketwire
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