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Elder financial abuse is a type of elder abuse in which misappropriation of financial resources or abusive use of financial control, in the context of a relationship where there is an expectation of trust, causes harm to an older person.
Elder abuse (also called elder mistreatment, senior abuse, abuse in later life, abuse of older adults, abuse of older women, and abuse of older men) is a single or repeated act, or lack of appropriate action, occurring within any relationship where there is an expectation of trust, which causes harm or distress to an older person. [1]
Elder financial abuse is so common that it is an intense area of study in the United States. The elderly are sometimes victims of financial abuse from people within their family: Money or property is used without their permission or taken from them. Their signature is forged for financial transactions.
Older Americans are losing $2.9 billion annually to elder financial abuse, a 12% increase from the $2.6 billion estimated in 2008, according to The MetLife Apparently, any number of people.
Financial elder abuse is an enormous issue on its own, with an equally enormous range of reported costs -- from a huge $2.9 billion, according to a 2011 MetLife report, to a massive $36.5 billion ...
The holidays are a time when far-flung relatives get a change to reconnect with relatives, especially after the disruptions that the COVID-19 pandemic created during the past two years. Family ...
Recently, there has been efforts to research and address elder abuse issues through passage of laws such as Elder Abuse Prevention and Prosecution Act of 2017. One of the earliest efforts by the US federal government to protect financial rights of elders was the establishment of Social Security benefits via the Social Security Act in 1935 ...
In a sentence recommendation, Assistant U.S. Attorney Kathryn M. Dieruf wrote "elder financial exploitation is the type of cynical, insidious crime that must be met with a serious sentence of ...