The Fight Against Elder Abuse

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Here we are again, talking about fraud prevention. Unfortunately, fraud and scams are only on the rise, so we have to talk about them – a lot. This summer, I posted “The Heart Wants What It Wants (So Do Scammers)”, a post about a common scam affecting senior citizens, The Romance Scam. The negative impact of these scams is just too steep to ignore, especially for those who are living on a fixed income. Lawmakers feel the same way, which is why a series of elder justice efforts have made their way through Congress over the years. Recently, The Elder Abuse Protection Act of 2021, introduced on April 30, 2021, was passed by the House on June 23, 2021. It now awaits Senate approval before moving forward to President Biden.

The bill proposes designating Elder Justice Coordinators who will:

1.       Create materials that assist law enforcement, prosecutors, judges, emergency responders, adult protective and social service workers, medical personnel, and financial services providers with best practices for identifying and addressing elder abuse.

2.       Coordinate and support law enforcement and policy activities surrounding elder justice issues.

3.       Share information including documentation and court proceedings that can assist in uncovering and prosecuting future elder abuse cases.

4.       Publish data and statistics related to financial elder abuse with the goal of prevention. Making the public aware of common tactics that scammers use, such as phony investment or business opportunities, loans, or scams designed to give away personal information.

In addition, the bill will provide resources, including legal aid and a telephone hotline established to provide support for victims and survivors of elder abuse.

Don’t wait for a bill to become a law before you get involved. If you see something, say something. That means speak up if someone you know is being taken advantage of. Help them protect themselves by fighting back against elder abuse (financial or otherwise.)

Have you or loved ones been the victim of elder abuse? I want to hear from you. Leave a comment below or email me.

Krista Kyte is a personal finance blogger and personal banker with over 18 years of experience in the financial industry. Krista is passionate about helping our members understand their financial situations. She writes tips that will help consumers reach and maintain financial security, and start living the life they’ve always wanted.