Cases of elder abuse, including fraudulent activities, are increasing at an alarming rate, described as an “epidemic” by a charity. Despite ongoing efforts to combat the mistreatment and exploitation of older individuals, Hourglass charity reports a significant rise in incidents where seniors are left financially destitute and subjected to physical and emotional harm due to abuse.
Recently, a woman named Madeline Shaw, 32, was sentenced to 18 months in prison for embezzling money from her grandfather, John Mallaby. Shaw, who had been entrusted with power of attorney for her grandfather, exploited this position by depleting his bank account after he was placed in a care facility. The fraud came to light only after John’s passing at the age of 83, prompting law enforcement to raise awareness about elder abuse.
Hourglass, an organization dedicated to combatting elder abuse, has noted a drastic increase in public reports concerning this issue over the past seven years, from 4,000 to 70,000 annually. Richard Robinson, the chief executive of Hourglass, expressed grave concern over the escalating problem, emphasizing the lack of decisive action to address it compared to other societal issues.
Financial exploitation of elderly individuals often involves theft, fraud, or coercion to obtain money or assets unlawfully. Perpetrators may resort to overt acts like stealing from a senior’s wallet or more subtle tactics such as emotional manipulation to extract funds. Hourglass highlights that in most cases, the perpetrators of financial fraud against seniors are their own family members.
A representative from Hourglass pointed out that studies indicate family members might rationalize their actions by believing they are entitled to the older person’s assets, assuming the senior no longer needs the money, or feeling justified due to caregiving responsibilities.