Thursday, July 30, 2009

Elder Abuse - financial abuse

I am concerned with those who are rising with the tide. Media attention on senior's issues is important. They are vulnerable. I do want to differentiate between Elder Abuse, Elder Neglect and Financial Abuse. This post focuses on the latter, it seem that many cannot differentiate between With the Silver Tsunami comes in detritus.
Those who abuse, who steal from the weak, the confused, the vulnerable are despicable.

Those who prey on the elderly, especially those anxious over their financial situation. Our elders have lived through The Depression. They have suffered through war and times when life was difficult.

The media attention on the economic situation breed fear and invokes a sense of desperation. It need not be so. Those without financial literacy must be supported to prevent such financial assault.

Small Investor Protection Association gives many incidents and warns against what can happen.
They have resources that list Bad Brokers.

Apparent "Junk Mail", the phishing that lures those on-line, scams that come in the form of cold calls, and mail directing victims to send money or else...[fill in the blank: your account will be frozen, your gas cut off, etc.]. It is important that caregivers, family and friends are vigilant to determine that a senior is capable of making decisions. Doctors can do 10-minute dementia tests. Many have suffered with the recent media attention on Ponzi schemes, where unlicenced investment advisors steal from the vulnerable. Be vigilant. Ask questions.

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