DAVID ACQUESTA & ART MASON Elder Abuse Experts GUEST APPEARANCE
Financial exploitation of the elderly is the improper taking of money and/or property from vulnerable and defenseless elderly persons. Because it impacts all socioeconomic groups and cultures in our aging population, financial exploitation is rapidly becoming the opportunistic and secret crime of the 21st century. In 2010, The New York State Elder Abuse Prevalence Study determined that 76 out of every 1,000 elderly New Yorkers are victims of elder abuse each year. Regrettably, only 1 in 24 cases is referred to elderly advocacy organizations, law enforcement agencies or attorneys.
The elderly, many of whom are on fixed incomes, are easy targets for financial exploitation due to social isolation, loneliness, physical disabilities, mental incapacities and insecurities. Further compounding the risk, victims often fear losing help from the very same caregivers, service providers, friends and family members perpetrating the financial exploitation. Shockingly, a 2003 National Center on Elder Abuse report determined that nearly 70 percent of all financial exploitation cases in the United States are committed by a family member.
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SOURCE: The FLTimes
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