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June Is Elder Abuse Awareness Month

We’re in this together!

Elder Abuse Awareness Ribbon

Preventing Elder Exploitation: The Unique Way We Can Respect Our Elders

June is Elder Abuse Awareness Month. Bristol County Savings Bank would like to mark this occasion by working together to raise awareness about this growing concern. The color purple symbolizes the growing problem of elder abuse around the world. Purple ribbons will be distributed throughout the Bank for our customers in an effort to raise awareness of this issue. Please watch for them to arrive and wear your purple ribbon throughout the month of June.

Elder Financial Abuse – A Growing Issue

Individuals over the age of 60 make up the largest growing segment of our population. Unfortunately, this age group is at risk for financial abuse. In fact, approximately one in 10 Americans aged 60-plus have experienced some form of elder abuse.

Financial scams targeting seniors are prevalent and costly. The FBI estimates that seniors lose more than $3 billion each year due to elder financial abuse and exploitation. As longevity increases, abuse of the elderly is an increasing and serious problem. Sadly, this issue affects individuals regardless of income level, culture, gender, race or sexual orientation. In this communication we will explain what elder financial abuse is, some common scams to be aware of, warning signs and what to do if you suspect elderly financial abuse.

What is Elder Financial Abuse?

Elder financial abuse is the illegal or improper use of an elder’s money by a family member, friend, neighbor, acquaintance or stranger. Unfortunately, those that have disabilities or rely on others for help can be more susceptible to these scams and other fraud. Elder abuse is a widespread problem. Some instances of elder abuse are intended to exploit the person financially; here are a few:

 

Signs of Elder Financial Abuse

Now Is the Time to Stay Alert! Awareness and knowing how to counter elder financial abuse are the key first steps to mitigating this silent epidemic. Given the prevalence of elder exploitation, it is critically important to recognize common warning signs:

 

If you suspect someone is a victim of elder abuse go to: ReportFraud.ftc.gov.

Deter. Detect. Defend.