Financial Abuse of Our Elders
by The financial abuse of our elders are reaching gigantic proportions.
The abuse of our elders is reaching epidemic proportions. Surprisingly the abusers are more often than not family members, friends, neighbors, and care givers. The recession is pushing more people to steal from their senior relatives. According to a report, “Broken Trust: Elders, Family, and Finances”, released by Metlife Mature Market Institute, Our elders are losing more than $2.6 billion every year through financial abuse.
Image by rvaphotodude via Flickr
The average victims are elderly women living alone. The sick and frail are more apt to be taken advantage of, and this applies even more to dementia patients. Some care takers in nursing homes are not above stealing from sick and demented patients.
Last month in Virginia a caretaker was sentenced to six months in jail for taking $16 000 from a patient with dementia. “A silent crime is taking place in America, silent because so many cases go unreported,” said Kathleen Quinn, executive director of the protective services association. Elder financial abuse can take place in different ways. Forging an elders signature, using an elders property without permission, getting a senior to sign a deed through deception or coercion, promising lifelong care in exchange for money or property, making charges against the victims credit card, con games, and down right stealing money and property. The list goes on.
The following are some red flag warnings. Is the senior being asked to invest in securities or start up companies? Securities fraud can be checked on; www.nasaa.org. Has the senior been asked to sign papers or give discretionary authority to an adviser? Has the senior made out a check to the adviser or broker?
Image via Wikipedia
The best defense against a disabled elder being bilked of his savings and property is to have a trusted friend or family member keep a close check on this person’s financial situation and overview his business transactions. The only problem with this solution is it might be that trusted friend doing the stealing. If you suspect any senior of being financially abused contact Adult Protection services at www.ncea.aoa.gov.
http://www.socyberty.com/Crime/Organ-Brokers.470441
http://socyberty.com/Organizations/The-Doe-Network.102687
http://helthmad.com/Women/Straight-Talk-About-Womens-Health-Problems.533033
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Post CommentCHAN LEE PENG
On July 29, 2009 at 12:21 pm
The authority or the policy maker should address this issue clearly to raise their attention towards the welfare of the eldery. Thanks and have my liked it.
RS Wing
On July 29, 2009 at 12:37 pm
Great article of a sickening reminder of were our priorities lie. One day these perpetrators of this despicable behavior will be old and need assisstance. Their Karma will catch up to them at some point. Great awareness article Ruby. Very socially conscious article people need to take note of. A+
OhSugar
On July 29, 2009 at 12:58 pm
Ruby, you have written about an unfortunate and very sad situation that is occurring more and more in this country. I live next door to a 90 year old sweetheart ,Maggie, who will open her door to just about anyone. I have scolded her many times when she opens the door for me, not know if it was I. She is trusting, too trusting. The abusers of these fragile souls, if caught, should be severely punished. Great article.
lindalulu
On July 29, 2009 at 1:17 pm
Wonderful article Ruby on a topic that is not often enough discussed. The elderly and people taking advantage of them is not acceptable at all! Trust is what older people was raised on, they grew in a different time in history where trust was a huge deal. Now a days it is hard to trust everyone! We never know and that is the way we the younger generation was raised to not trust. I do wish people would think before they hurt the elderly though. Thanks again for making people think about this issue.
ken butman
On July 29, 2009 at 1:27 pm
Good article. The more this crime comes to the attention of authorities the more crooks are being prosecuted. ‘Bout time.
Jamie Myles
On July 29, 2009 at 1:41 pm
Excellent article Ruby. This is becoming more and more prevalent in our society due to situational ethics. “The ends justify the means.” It’s an outrage.
PR Mace
On July 29, 2009 at 2:29 pm
Thank you, Ruby for bring this situation to light. I saw it first hand a few years ago with a lovely older neighbor across the street from us. Pat lost her husband in April 2007, her son moved in to ” help her out” and soon was taking her money and asking neighbors for money. I was one of the ones he asked. My husband and I tried to talk with Pat about this but she would not listen and soon stopped talking with us and her other friends. I think I should have tried harder and I wish I had. She died on the Friday after Thanksgiving that same year. Her son was arrested for her murder. She finally got tired of him wanting money. Since she had no other family we never found out what happen. Her house is still empty, owned by the bank and her story still haunts me. I should have tried to do more.
Daisy Peasblossom
On July 29, 2009 at 3:26 pm
Great article–very appropo in today’s financial environment. On the flip side of that, if you are a care-giver, be sure to keep good records of exactly where every penny is spent. A great come-back for “What happened to Grandma’s social security check?” is something like: “I paid her rent and her utility bills, and ALL the long distance calls to YOU, and then I bought groceries out of MY money.” But you need to be able to back it up with receipts.
deep blue
On July 29, 2009 at 4:24 pm
Nice topic Ruby. That’s the problem with recession somebody must eke out a living by hook or by crook.
Tanya Wallace
On July 29, 2009 at 5:11 pm
As usual Ruby an excellent article that forces awareness about a subject that is not often touched upon.I think it is disgusting people would do this to older people!
Jo Oliver
On July 29, 2009 at 7:14 pm
Wonderful article, Ruby. As a nurse, I have seen all too many cases where children/ grandchildren put mom/dad in the nursing home for the sole purpose of obtaining control of their $, selling property, etc…. There are just so many horror stories. But, it is really sad to see the little things…. like a family member that pulls up to the nursing home in a BMW refusing to contribute $6.00 for mom or dad to go on the monthly ice cream outing away from the nursing home because it cost too much money or a family member bring one of the residents checks for them to sign supposedly to get them personal items, but then never come back with the personal items.
Jenny Heart
On July 29, 2009 at 8:07 pm
The elderly need to be recognized and protected. Well written!
Judy Sheldon
On July 29, 2009 at 9:13 pm
We recently had a well known attorney in our town imprisoned for bilking funds from an elderly person’s account he was supposed to be managing for him. It is sad, isn’t it?
Uma Shankari
On July 29, 2009 at 10:51 pm
Excellent. Good points raised.
George W Whitehead
On July 30, 2009 at 1:35 am
Great article, Ruby.
I’m not saying that it doesn’t happen here, but this kind of thing doesn’t come to light much in the UK. What is prevalent though is crime against aged people. For instance, a couple of years ago the old lady who lives next-door to me, she was 87 at the time, was walking home from the shops at around 10:30am when she was mugged by a teenage girl, who stole her purse. Thankfully she wasn’t hurt.
These kids know that the police won’t investigate these ‘petty’ crimes so it makes it an easy method to get money for their booze and drugs!
Francois Hagnere
On July 30, 2009 at 5:41 am
That’s terrible to see this.
fishfry aka Elizabeth Figueroa
On July 30, 2009 at 6:13 pm
It is a shame that our world has gotten to this, when there is absolutely no respect for ones elders. Yet in tribes years ago, the elder was the smart one and every went to him for advice and he was well respect. Now we have kids who could car a rats butt about the elderly, and they mock them
Sad but through Article
Lostash
On July 30, 2009 at 7:28 pm
I find it shocking the way our elderly are treated, and it’s just the same over here! I hope it never happens to me when I reach a certain age!
clafleur
On July 31, 2009 at 2:33 pm
Good topic, and i hope this brings a spark to the issue. I know elder abuse is growing and no one has a solid answer on what to do about it. I think we need legislation to add some tougher penalties. Old people are always easy targets, and we need something to deter.
Ruby Hawk
On July 31, 2009 at 9:14 pm
Thank you my friends for your interest and comments. It is such a shame that people who are most helpless to help themselves are abused, but I guess that’s the point. I would like to see all the abusers in jail for a long stretch and made to repay all they have stolen.
Today is the first time I could get on this article to thank you all. I do hope Triond has it fixed so I can see your articles today. Yesterday I could get to very few of your pages. Take care everyone.
Brian Daniel Stankich
On July 31, 2009 at 10:16 pm
that’s a shame
agriculi
On August 5, 2009 at 7:11 am
They think they get away wiht stealing, but they will get what they deserve in the end.
Waters & Kraus
On August 19, 2009 at 1:25 pm
This is devastating and sad that seniors would be put through this situation.