As Economy Worsens, Swindling of Elders Increases (WA. USA)

As economy worsens, swindling of elders increases

By Michelle Singletary

July 16, 2009

Fraud is bad enough, but when you have family members or caregivers who are financially abusing their elderly relatives or patients, that’s downright despicable.

And yet, in most of the cases of elder financial abuse, the perpetrators are not strangers. Family, friends, neighbors and caregivers are the culprits in 55 percent of the cases, according to a report, “Broken

Trust: Elders, Family, and Finances, “ released by the MetLife Mature Market Institute. The report was produced in conjunction with the National Committee for the Prevention of Elder Abuse and Virginia Tech University.

Law enforcement and securities officials say the recession is pushing more people to steal from well-off seniors.

For more information, go to www.nasaa.org and search for “Senior Investor Resource Center.’’

To report elder abuse you can contact an Adult Protective Services office atwww.apsnetwork.org.

“This type of crime just sets me off,’’ Joseph said. “You get victims who are in their 70s and 80s being taken for their life savings. What do they do? They can’t earn it back.’’

If you suspect a senior is being exploited, report it - even if the suspected scoundrel is a family member.

(Please go to SOURCE for full-text; and more prevention tips)

Abridged

SOURCE: HeraldNet - Everett,WA,USA

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