By Herb Weisbaum
Mar 15, 2011
We rarely hear about it, but financial abuse of the elderly is a serious and growing problem. Mickey Rooney put a spotlight on the crime when he testified before Congress recently.
We know elder financial abuse it widespread and growing, but no one really has a handle on how much money is lost this way.
The best figure we have is $2.6 billion a year -- that's based on a report done in 2009 for MetLife. The report also said only one in six cases is ever reported, so this $2.6 billion dollar is conservative. And with the recent recession, fraud experts say the problem has only gotten worse.
Who's committing the crime? It can be a staff member at a care facility who's able to cozy up to a resident to get jewelry, money or power of attorney.
It can be family members who believe they're entitled to inheritance before their parents or grandparents pass away.
It could be a stranger. Con artists also prey on older people, because as a group they control a tremendous amount of this country's wealth.
Elder abuse is a community-wide problem that can only be solved when people get involved. It really will take a village to deal with this.
If your suspect elder abuse, report your concerns. Most cases of elder abuse go undetected. Don't assume that someone has already reported a suspicious situation.
Contact your local adult protective services agency or prosecutor's office or police department. The people committing these crimes need to be caught and punished.
We know elder financial abuse it widespread and growing, but no one really has a handle on how much money is lost this way.
The best figure we have is $2.6 billion a year -- that's based on a report done in 2009 for MetLife. The report also said only one in six cases is ever reported, so this $2.6 billion dollar is conservative. And with the recent recession, fraud experts say the problem has only gotten worse.
Who's committing the crime? It can be a staff member at a care facility who's able to cozy up to a resident to get jewelry, money or power of attorney.
It can be family members who believe they're entitled to inheritance before their parents or grandparents pass away.
It could be a stranger. Con artists also prey on older people, because as a group they control a tremendous amount of this country's wealth.
Elder abuse is a community-wide problem that can only be solved when people get involved. It really will take a village to deal with this.
If your suspect elder abuse, report your concerns. Most cases of elder abuse go undetected. Don't assume that someone has already reported a suspicious situation.
Contact your local adult protective services agency or prosecutor's office or police department. The people committing these crimes need to be caught and punished.
SOURCE: PineWS Wire
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