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All too many times overwhelmed caregivers are physically and emotionally depleted and need to take time to rest and care for themselves. Believing in a holistic approach to caregiver stress and a strong commitment to helping our members find the right solutions, we created this blog to help you connect with others who, like you, may be facing the same eldercare issues and challenges. Feel free to comment, ask questions, and submit articles. Please forward the blog link to your family and friends. They'll be glad you did.

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Patricia Grace
founder & CEO
Aging with Grace

Wednesday, June 08, 2011

Elder fraud on the rise

A new Metlife study on financial elder abuse estimates that the annual financial loss felt by victims increased 12 percent from the last time the study was conducted in 2008 and recognizes that elder abuse is still an underreported crime.

“The Metlife Study of Elder Abuse: Crimes of Occasion, Desperation, and Predation Against America’s Elders” indicates that older Americans are losing 2.9 billion dollars to predators, 51 percent of whom are strangers, often targeting victims who were out shopping or managing financial affairs. “In almost all instances, financial exploitation is achieved through deceit, threats and emotional manipulation of an elder,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. “In addition to this psychological mistreatment, physical and sexual violence frequently accompany the greed and disregard of financial abuse. The vigilance of friends and family can help protect elders from those who are predatory, which may, unfortunately, include strangers or even other loved ones.”

The report also describes the profile of a typical victim of financial abuse as a woman aged 80 to 89, who lives alone and exhibits signs of mild cognitive or physical impairment. Researchers believe that the low social support often available to these victims contribute to the underreporting of crimes and hope that newly passed legislation will help combat these vulnerabilities.

1 comment:

  1. I can see how this could happen . In our case mom was free with info on the phone to anyone and she would invite strangers that would come to the door into her home. Very scary!


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