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Elder Financial Abuse

ELDER FINANCIAL ABUSE Financial abuse is a major concern for many elderly adults. Their advanced age and physical frailty make them easy targets for opportunistic abusers. Here is a concise look on the matter. METHODOLOGY Statistics based on a Metlife Research study gathered by examining media news articles over 2 period of time in 2009 to 2011. IN THE MEDIA 2008 2010 ↑ 1,100% 2% 14% PHONE SCAM 4 articles 44 articles 2008 2010 1 400% 3 % 12 % CRIME SCAM 8 articles 37 articles 2008 2010 + 50% 17% 9% FAMILY 45 articles 28 articles 2008 2010 12. + 30% 20 % IN-HOME CAREGIVER 54 articles 39 articles * Perpetrator of financial elder abuse based on 314 news articles in 2008 and 266 articles in 2010. PROFILES VICTIM PERPETRATOR Male Male Female Female 66 % 33% 60 % 40% < 60 60s 70s 80s 90s >100 < 20 20s 30s 40s 50s 60s 70s 0.5% 0.5% 4% 10% 15% 10% 14% 28% 18% 22% 45% 26% * Based on the victims that provided age Out of 244 Victims, 94 did not disclose age * Based on 375 people with 135 age unknown CASE CATEGORIES 45 % FAMILIAR PEOPLE family, friends, neighbors, caregivers (paid/unpaid, family/non-family, facility/home), befriending AVERAGE CASE AMOUNT $ 181,995 BUSINESS insurance, banking, attorneys, contractors, nursing home administrators (legitimate businesses) AVERAGE CASE AMOUNT $658,192 8% 47 % STRANGERS home repairs scams, all phone scams, strangers, criminal (robbery, burglary) AVERAGE CASE AMOUNT $ 149.007 ACTUAL CASES A "caregiver" son lived in the home of his 82-year-old mother. He cashed her social security checks while she sat in dirty diapers with rotting food caked in her hair and her body was covered in bedsores. A woman barely came away with her life after her caretaker of four years stole money from her and pushed her wheelchair in front of a train. After the incident the woman said, "We were so good of friends... I'm so hurt that I can't stop crying." The daughter of a healthy, active 78-year-old woman convinced everyone her mother had Alzheimer's to gain power of attorney and financial control during the mother's temporary recovery from a broken arm. The mother thought her daughter was offering care and support at a difficult time. A woman was exploited for her social security checks by a live-in "caregiving" couple. She was neglected so severely that she was malnourished and weighed 80 pounds, had bedsores infested with maggots, and gangrene in both feet, which she lost to amputation after the abuse was finally discovered. A 65-year-old woman who suffered from dementia was locked in a closet for months by three acquaintances who lived off of her money during that time. Source: brought to you by

Elder Financial Abuse

shared by trueseniorcare on Jul 25
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Seniors are constantly at risk of getting scammed. This infographic hopes to bring to light on elder financial abuse.




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