Sunday, December 22, 2019

The Role Of Financial Elder Abuse Has Become An Epidemic

Financial elder abuse has become an epidemic because it is a crime that lives in the shadows, and as long as it remains there, the list of victims is sure to grow. Approximately 12% of the cases reported to the National Center on Elder Abuse relate to finances, and the cost to the elderly and vulnerable victim averages $30,000. It is impossible to get accurate numbers on the radically underreported crime since the victims feels shame or are afraid of losing autonomy. Some estimates put the rate of reporting at just 1 in 44 cases of financial fraud. This is not a problem which has evaded notice by the government. Most states have initiated laws to protect the senior citizen population, which range from background check requirements for prospective elder care workers to additional penalty assessments for crimes committed against persons over 62 year old. On the federal level most acts are targeted at sponsoring organizations that respond to crimes against the elderly. 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