Elderly fraud is a common problem, and it’s one that continues to grow. An AARP study found that half of the people who are the victims of fraud are over the age of 50. Some seniors are embarrassed to report fraud to the proper authorities, while others aren’t sure where to turn. The Retirement Industry Trust Association believes that only 1 out of 100 crimes do get reported.
If everyone reported fraudulent activities, the percentage of seniors who are the victims of fraud would likely be staggering. Politicians are taking steps to keep seniors safe. Here are some of the new laws designed to end fraud against the elderly.
The Elder Abuse Prevention Act of 2017
In October, the Elder Abuse Prevention Act found its way to the President’s desk. This bill helps provide law enforcement with the tools needed to help fight elder fraud and abuse. It provides the FBI with training programs specific to elder fraud and requires information on the different crimes to get collected and published by the Department of Health and Human Services.
Michigan Sends Six Bills to the Legislature
There are six bills going to through Michigan’s government right now. This package of bills is designed to help seniors who live at home and those who move to assisted living communities. The aim of the bills is to end financial fraud, mental and physical abuse, and ensure home care providers are properly trained. It empowers police agencies to charge scammers and abusers with felonies in some cases.
Texas Makes It Easier for Banks and Credit Unions to Refuse to Wire Money
In Texas, an elderly woman sold her home and wired $200,000 to a man she met online. She was convinced he was going to marry her. He was a scam artist from Nigeria. It’s cases like this that led to a new law in Texas.
Until this law passed, banks and credit unions could be sued if they stopped what they felt was a fraudulent transaction. It led to some workers being fearful of stopping a transaction that might or might not be fraudulent. House Bill 3921 enables financial institutions to continue to halt suspicious transactions and report the suspected fraud to authorities without risk of being sued.
When your elderly parent is home alone, it’s more likely the phone will get answered. This increases the risk of falling for a phone scam. Loneliness can play a part in seniors being victimized.
Make sure your mom or dad is not lonely. Hire a caregiver to bring home care services to your parents on a regular basis. It can be a weekly trip to the store for groceries or daily help with meal preparation. Call a home care agency to learn more about the use of caregivers to end loneliness.
For home care in Cherry Hill, NJ, and the surrounding areas, call and talk to us at Home to Stay Healthcare Solutions (856) 321-1500.
Home to Stay Senior Care Solutions is owned and operated by the Dubler and Skole Families and was started because of experiences they had with their own Families. In one situation Mom was living alone and had a fall. It was not until this fall that the family realized they were unprepared.
When it was time for their Mom to come home, she needed companion and personal care to assist her and prevent another accident. Like most people in this situation, they were confused and did not know where to go for help. It was this life-changing experience that lead to starting a home care company that is focused on enabling those who wish to stay at home and age in place.
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