AARP To Lawyers: 10% Of Seniors Are Financially Abused Every Year

Financial abuse of people over 60 is on the rise, professional advocates for the elderly said during an American Bar Association Webinar Tuesday.

The improving economy is a contributing factor because many relatives who lost their jobs during the recession and were able to provide full-time care for an elderly family member are now back at work, AARP New York State Associate Director Chris Widelo said.

“It’s a big factor,” he said, in part because seniors who were getting free care are faced with paying for it. He added relatives back at work are under stress that could lead them to take it out on the senior because they are faced with a 40-hour-a-week job, 20 hours of care and raising a family.

While the massive growth in the elderly population with the aging of the baby boomer population has been known for decades, government and private agencies responsible for protecting seniors have been lagging in preparing for the surge, Widelo said.

“This is not something we can address tomorrow,” the AARP executive said.


Financial exploitation of seniors is massively hidden, said National Center on Elder Abuse Co-Director Mary Twomey. She noted one out of every 45 instances is reported to authorities.

“A lot elder abuse is subtle, you have to listen to it carefully, she said.

Twomey warned financial abuse can lead to physical abuse, noting it happens sometimes when a senior refuses to give money to a relatives or other potential victimizer.

One out of 10 persons over 60 are abused each year. In 90 percent of the cases, the perpetrator is a family member.