How To Protect Nursing Home Residents From Financial Exploitation - Nasindependenceday

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How To Protect Nursing Home Residents From Financial Exploitation

Friday, February 2, 2018

Financial exploitation is considered to be the No. 1 most common type of elder abuse in the United States. Estimates have shown that as many as 5 percent, or 60 million Americans, are victims of this every year.

That exploitation accounts for about $3 billion.

Who is committing these crimes? Research shows that the most common people that financially exploit the elderly are those closest to the person: caregivers, doctors, nurses, pastors, neighbors, friends and family.

The following are examples of financial exploitation in nursing homes:

  • Forging signatures
  • Coercion into signing documents
  • Theft of money or possessions
  • Cashing resident’s checks
  • Illegally standing in as power of attorney
  • Use of technology to swindle the elderly
The Consumer Financial Protection Bureau offers four “pillars” of intervention that can help protect nursing home residents. These pillars include:

Prevent: Prevent financial exploitation through methods of training and awareness

Recognize: Know the warning signs of exploitation and how to take action

Record: Always document suspicions of exploitation

Report: Report any suspicions to authorities

If you or a loved one has been a victim of financial exploitation in a nursing home, if may be in your best interest to contact a nursing home abuse lawyer today.
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