GAO: National Strategy Needed to Effectively Combat Elder Financial Exploitation

Why GAO Did This Study

Elder financial exploitation is the illegal or improper use of an older adult’s funds or property. It has been described as an epidemic with society-wide repercussions. While combating elder financial exploitation is largely the responsibility of state and local social service, criminal justice, and consumer protection agencies, the federal government has a role to play in this area as well. GAO was asked to review issues related to elder financial exploitation. This report describes the challenges states face in (1) preventing and (2) responding to elder financial exploitation, as well as the actions some federal agencies have taken to help states address these challenges.

To obtain this information, GAO interviewed state and local social service, criminal justice, and consumer protection officials in California, Illinois, New York, and Pennsylvania—states with large elderly populations; officials in seven federal agencies; and various elder abuse experts. GAO also analyzed federal strategic plans and other documents and reviewed relevant research, federal laws and regulations, and state laws.

Source:
U.S. GAO – Elder Justice: National Strategy Needed to Effectively Combat Elderly Financial Exploitation

READ the GAO Report

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6 Responses to “GAO: National Strategy Needed to Effectively Combat Elder Financial Exploitation”

  1. Betty Says:

    Here's the problem: The Special Committee on Aging puts on a good show but no substance. Oh sure, they have the GAO doing studies and reports and then they have a big hearing and invite speakers they have a relationship with and maybe even an agenda, and then everybody goes home and life goes on. Does the SSCA ever accomplish anything on its own? I'm sure it does, but not in the area of guardinaship and conservatorship abuse.

  2. Steve Says:

    You're exactly right, Betty. How many hearings has the Senate Special Committee on Aging had on guardianship abuse and what's been the result? At least three hearing and all Senator Kohl can suggest is "training and certification" — who benefits from that? Well, the trainers and certifiers. But, will training and certification stop court-approinted professional fiduciaries? ABSOLUTELY NOT!I know NASGA has sent the Senate Special Committee on Aging their white papers on guardianship abuse but did they read them? Probably not.

  3. Thelma Says:

    Training and certification?How do you train a professional thief not to steal?

  4. Connor Says:

    I will be so glad when Senator Herb Kohl (WI) retires from the Senate Special Committee on Aging. Let's keep our fingers crossed that we'll get a replacment who will take some action on the behalf of aging citizens for a change.

  5. Anonymous Says:

    What a shame to know and do nothing! This is not the kind of people we need doing investigations. Wake up America!

  6. Finny Says:

    I agree with all the comments here. The Senate Special Committee on Aging ignores guardianship abuse or if they do acknowledge it, they attempt to blame family and turn their collective heads to the real perps: the professionals and the public guardians.

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