Tuesday, June 14, 2016

World Elder Abuse Awareness Day: Elder Investment Fraud And Financial Exploitation Prevention Program

World Elder Abuse Awareness Day (WEAAD) is on the June 15.

In an effort to prevent financial exploitation of our senior citizens, New York State officials have announced the launch of the Elder Investment Fraud and Financial Exploitation (EIFFE).

The program educates doctors who frequently treat older patients about the risks that investment fraud poses to their patients and provides doctors with tools to recognize and report suspected fraud.

Studies show that approximately 20% of older Americans have been financially exploited, and that about 35% are afflicted by some form of cognitive impairment, which can make senior citizens particularly vulnerable to financial fraud.

The State Office of Children and Family Services’ Bureau of Adult Services, which plays a key role in recognizing and responding to financial exploitation of vulnerable adults, will also take part in the program.

For more information on Protective Services for Adults and other adult services provided through the local departments of social services click here.