A new poll examining financial exploitation of American seniors finds that 79 percent of experts surveyed identified theft or diversion of funds by family members as the most common form of financial abuse.
The poll asked state securities regulators, financial planners, health care professionals, social workers, adult protective services workers, law enforcement officials, elder law attorneys, and academics about their experiences with elder abuse. 77 percent of individuals surveyed thought that seniors are very vulnerable to financial abuse, and most cited financial abuse by family members as the most common form of financial abuse. Most respondents indicated that older veterans face the same deception risks as other seniors, but affinity fraud and VA Aid and Attendance fraud were also cited as important problems to address.
About 70 percent of those surveyed reported financial counseling and education programs administered by local professionals, such as caregivers, adult protective services workers, and law enforcement agencies as the most useful tool for helping seniors effectively manage their finances. Programs delivered through senior centers and other senior care organizations and programs delivered by senior oriented national and local organizations were also considered positively by respondents.
Learn more about the financial exploitation survey conducted by the Investor Protection Trust (IPT) and Investor Protection Institute (IPI) in response to questions posed by the Consumer Financial Protection Bureau (CFPB).
Core Principles, Elder Abuse, Family Relations, Financing Senior Living Consumer Education, News, Resident and Family Services
The Administration on Community Living has announced grant awards of approximately $1.2 million designed to help older adults have access to legal ser...
Advocacy, ALFA's Public Policy Positions, Core Principles, Elder Abuse, Engage, Membership, News, Resident and Family Services
Ohio Attorney General Mike DeWine recently warned of phone scams targeting Ohio grandparents, following an increase in complaints. In the past month, ...
ALFA's Public Policy Positions, All States, Elder Abuse, News
A final rule governing Long-Term Care Ombudsman Programs became effective July 1 and the Administration for Community Living now plans to review state...
Senior living advocates and others honor World Elder Abuse Awareness Day on June 15 to recognize the importance of raising awareness of this issue.
cheatsheet, Community Awareness and Education, Core Principles, Elder Abuse, Federal Agency Activity, Resident and Family Services
The Consumer Financial Protection Bureau is doing its part to celebrate Older Americans Month by collaborating with Meals on Wheels to offer a placema...
The National Center on Elder Abuse has released a brief focusing on information and research findings related to the mistreatment of African American ...
In a review of multiple studies on financial abuse conducted in countries around the world, it appears that financial abuse is either the most or sec...
Elder Abuse, Managed Risk
The National Institutes of Health has launched a public health campaign on the link between hypertension and cognitive decline and dementia.
Tools for prolonging and improving cognitive ability help many senior living residents stay sharp.
The chairman of the Senate Special Committee on Aging has issued a statement reminding seniors and their families of persistent scams during tax seaso...