Imagine the idea of signing a legal document that allows a thief to rob you. This sounds preposterous; however, this is reality for elderly who are affected by financial abuse. “In 2010 alone, reported instances of scams and fraud against older adults resulted in losses of about $2.9 billion” (Siddiqi). The amount of theft has only risen over the last six years, and is expected to keep growing if no further prevention or education is put into place. More and more people are living to older ages than what the world has ever seen. This creates a growing population of aging people, who need help handling finances. Deceitful individuals jump at the chance to prey on the vulnerable elderly. Financial abuse toward the elderly is a major problem; however, with education, public awareness, and legal action, society can work towards a safer financial platform for the elderly. For years’ older generations protected our well being, and now it is time to repay the debt, and protect our aging population from harmful financial abuse.
Financial abuse is defined as “Making or attempting to make a person financially dependent, e.g., maintaining total control over financial resources and withholding access to money” (Women's law). Financial abuse is …show more content…
Millions of dollars, from vulnerable elderly, are stolen by thieves every year. The elderly are easy targets with high amounts of assets to steal. Money hungry people taking advantage of trusting elderly is something cruel and no one should ever have to go through alone. As the percentage of elderly rises, as more dabble in social media and the web, we need to be more prepared to combat the rising issue of financial abuse. With the help of education, awareness, and legal help, financial abuse has the potential to be reduced. This will create safer, more enjoyable life for the elderly, many who have limited
Financial abuse is defined as “Making or attempting to make a person financially dependent, e.g., maintaining total control over financial resources and withholding access to money” (Women's law). Financial abuse is …show more content…
Millions of dollars, from vulnerable elderly, are stolen by thieves every year. The elderly are easy targets with high amounts of assets to steal. Money hungry people taking advantage of trusting elderly is something cruel and no one should ever have to go through alone. As the percentage of elderly rises, as more dabble in social media and the web, we need to be more prepared to combat the rising issue of financial abuse. With the help of education, awareness, and legal help, financial abuse has the potential to be reduced. This will create safer, more enjoyable life for the elderly, many who have limited