The Government Accountability Office (GAO) has called for a “national strategy” to fight elder financial exploitation and abuse. While the struggle against elder abuse is well underway in California and other states, the GAO recognizes that elder financial exploitation is a nationwide problem that requires attention and help from the federal government. The report suggests that public awareness and spreading information could be critical to the prevention of elder financial exploitation.
Power of attorney abuse is one example of elder financial exploitation written about in the GAO report. Power of attorney fraud can occur when guardians or caregivers use their financial authority for their own profit instead of to benefit the elder. This often results in large financial losses to the elder – often with psychological and sometimes physical consequences, such as lack of proper healthcare or medical attention.
The US Department of Justice has also joined the quest to end elder financial exploitation. They have begun to create a website with materials that could help prosecutors of elder abuse cases. The Federal Trade Commission maintains a database of incidents of financial exploitation. The GAO reports that these measures, combined with a call for a strengthened effort to bring federal support to state law enforcement officials, are necessary parts of the “national strategy” to combat elder financial exploitation.
The Evans Law Firm litigates on behalf of victims of elder financial exploitation and abuse in San Francisco and throughout California. For a free and confidential consultation with an experienced California attorney, contact The Evans Law Firm at 415-441-8669 or email firstname.lastname@example.org.