FCDECFINANCIAL EXPLOITATION AND ABUSE OF ELDERS  Gregson Parker CPA/CFF, CFE      September 19, 2012
FCDEC September 19, 2012  The Stats:  •   4-20% of over-65 adults are victimized  •   450,000 new cases every year  •   $2...
FCDEC September 19, 2012  The Flags:  • Lives alone  • Single caregiver/companion  • Restricted mobility (can’t drive/shop...
FCDEC September 19, 2012  The Financial Flags:  •   Cash withdrawals/money orders/wire transfers  •   Bank account changes...
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Financial exploitation and abuse of elders

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Financial exploitation and abuse of elders

  1. 1. FCDECFINANCIAL EXPLOITATION AND ABUSE OF ELDERS Gregson Parker CPA/CFF, CFE September 19, 2012
  2. 2. FCDEC September 19, 2012 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
  3. 3. 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
  4. 4. 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”

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