View
152
Download
0
Embed Size (px)
Citation preview
FINANCIAL EXPLOITATION AND ABUSE OF ELDERS
Gregson Parker CPA/CFF, CFESeptember 19, 2012
FCDEC
The Stats:• 4-20% of over-65 adults are victimized• 450,000 new cases every year• $2.9 billion in 2010 (up $300M from
2008)• 51% by strangers• 34% by family and friends• Twice as many female victims (most
age 80-89)• 60% of perpetrators are male (most
age 30-59)• Willie Sutton:
Over-50’s control 70% of nation’s wealth
FCDEC September 19, 2012
The Flags:• Lives alone• Single caregiver/companion• Restricted mobility (can’t
drive/shop/get to medical services)• Memory impairment or loss/dementia• Moves to new address• Telephone number changes or
becomes unlisted• Needs/gets assistance with
medications• Changes in visitation patterns with
friends / church• Changes in wills, PoA, titles, and
policies
FCDEC September 19, 2012
The Financial Flags:• Cash withdrawals/money orders/wire
transfers• Bank account changes• Delinquent bills, including rent and
mortgage• Missing cash (or other items of value)• Substandard care despite apparently
adequate resources• Bounced checks• Financial information not available• Names added to accounts• New debit or credit cards• Utility shut-offs• Inordinate number of charity solicitations,
by mail or phone, esp. “Follow-up to a pledge”
FCDEC September 19, 2012