Echo Press Editorial: How to stop elder abuse: Report red flags
July 22, 2015
It happens
too often: An elderly person is financially preyed upon by a con artist, a
relative or close friend.
But all the
headlines that tell about such crimes should not make people numb to it.
Instead, it should spark outrage and spur action and awareness. It starts with
reporting any suspected financial abuse and exploitation of the elderly.
Rothman said
that seniors have become a prime target for crooks because they control an
estimated 70 percent of the nation’s wealth. Age-related factors such as
illnesses and cognitive impairment can make many older adults especially
vulnerable to financial crimes and scams.
The commerce
department has stepped up its efforts to protect Minnesota seniors from
financial fraud and abuse. But it can’t address this pressing problem on its
own. It needs the public’s help in bringing cases of suspected elder abuse to
light.
“While one
of the best lines of defense is prevention through education, a continuing
challenge is that elder financial abuse is a crime that often goes unreported,”
said Rothman. “Greater public awareness is needed to identify these crimes
early on and help victims before they lose their hard-earned life savings.”
Rothman
highlighted some possible warning signs of financial abuse of older adults:
• Unusual
financial transactions that are inconsistent with past behavior.
•
Uncharacteristic attempts to wire large sums of money.
• Unusual
inability to pay for routine services like utilities or insurance.
• Closing of
CDs or financial accounts without regard to penalties or fees.
• Large or
frequent financial withdrawals, including maximum cash withdrawals from ATMs.
• A sudden
change in the management of the older adult’s finances.
Rothman said
that when these red flags show up, it may be a sign that someone is being
victimized and it should be reported.
Douglas
County area residents can report suspected elder financial fraud to the
Commerce Department at 1-800-657-3602.
Minnesotans
can also report suspected elder abuse, such as physical maltreatment or
neglect, to their county’s designated Common Entry Point. To find a county’s
Common Entry Point, people can call the Senior LinkAge Line at 1-800-333-2433.
SOURCE: The Echo Press
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