Elderly financial abuse

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Description

Elderly financial abuse

Elderly financial abuse

ANSWER


Elderly financial abuse has been recognized as a major problem facing the world in the 21st century.  Financial exploitation is considered as a crime but elderly financial abuse can be considered as a grave crime since most elderly people are unsuspecting. It has been reported that in the wake of financial economic crisis, the number of elderly financial abuse cases kept on rising. Financial investment advisors stalked on unsuspecting elderly people and most of them ended up losing all their life savings.  Reports show that elderly financial abuse cost them billions of dollars annually. The government has not responded in any special way except through legislation of Elder Justice Act, which is still pending with the law makers.  The study will look at the experiences of elder financial abuse victims and the difficulties they have to go through in life.