Abstract
Elder financial exploitation is a growing threat to our nation’s older adults. The United States has no national reporting mechanism to track financial exploitation of older adults. Financial exploitation has been called “the crime of the 21st century.” More than 25,500 older Americans reported sending 16 million dollars to scammers posing as family members and claiming an injury or arrest in a foreign country. It is reported financial abuse cost older Americans 3.6 billion dollars every year. The number of victims is expected to grow as the older populations in the United States is expected to reach 71 million over the next few decades. With old age often comes social isolation and mental and physical decline which makes the older adult susceptible. Prevention is an important part of combating financial exploitation. When exploitation occurs, victims are left to cope with all the aftermath of compromised identity, damaged credit, and financial loss. In addition, older adults experience a painful range of emotions including anger, fear and frustration. This workshop is designed to provide information and tips to help prevent frauds, scams, and other types of older adult financial exploitation. Topics include factors in targeting, effects on older adults, and steps to prevent financial exploitation.
Presenters
Ronald DolonProfessor, Social Work Department, Ball State University, Indiana, United States
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
Economic and Demographic Perspectives on Aging
KEYWORDS
Financial Exploitation, Older Adults, Assessment, Prevention
