Financial Abuse Among The Elderly On The Rise
The Virginia Department of Social Services says more and more older adults are being financially exploited and is calling on people who work in the financial industry to help stop it. Charles Fishburne reports.
The economy is bad, and baby boomers are getting older and less able to take care of themselves, financially or otherwise, and some are being taken advantage of.
Nardi: Sadly, the folks most likely to take advantage of an older Virginian are their families.
Gail Nardi, at the Virginia Department of Social Services.
Nardi: …figures that if mom or dad has a touch of dementia then they have some type of entitlement to their parent’s money.
She says they know this because of more than 15,000 cases of various forms of adult abuse reported on their abuse hotline every year. The first people likely to spot this are bank tellers and account managers.
Nardi: Make sure that someone knows.
And, though they are not mandated by law, she encourages their calling VDS at 1-888-83ADULT, and let a professional handle it.
Nardi: And, literally, save a life.
Charles Fishburne, WCVE News.