EDITORIAL - Stamp out financial abuse of elderly

Reports are that financial abuse of the elderly is a matter that needs addressing in this country.

As Barbados joined the world earlier this month to acknowledge World Elder Abuse Awareness Day 2017, word is that Minister of Social Care, Constituency Empowerment and Community Development, Steve Blackett, indicated that in Barbados, the most common financial abuse occurs when person’s old age pension and National Insurance cheques are illegally cashed by individuals and funds diverted and, or, misappropriated. He however did not reveal any statistics.

Now we have heard it all before, but to hear it coming from the Minister, who interacts mainly with this vulnerable group, should cause us to pay a little more attention. It is not acceptable that unscrupulous individuals can simply encourage or coerce elderly persons to visit their banks to withdraw quantities of money, or illegally cash their cheques. What makes it worse is that in many instances, the elderly folk fall victim to financial abuse because they are emotionally or physically dependent on the abuser.

The National Committee for the Prevention of Elder Abuse in the United States points out that financial elder abuse can take numerous forms, including not only the confiscation of funds from the elderly, but taking money or property. Also, the forging of an older person’s signature, getting an older person to sign a deed, will, or power of attorney through deception, coercion, or undue influence, using the older person’s property or possessions without permission, promising lifelong care in exchange for money or property and not following through on the promise. The Committee also issues warnings about various scams, where perpetrators call up victims and use deception, scare tactics, or exaggerated claims to get them to send money. They may also make charges against victims’ credit cards without authorisation. We have seen a few instances of this here in Barbados.

It has been noted as well that relatives of the elderly are at times the perpetrators and not only independent caregivers or strangers. In many cases the relatives have substance abuse, gambling, or financial problems, stand to inherit and feel justified in taking what they believe is “almost” or “rightfully” theirs, fear that their older family member will get sick and use up their savings, depriving the abuser of an inheritance. They may even have had a negative relationship with the older person and feel a sense of “entitlement”, or have negative feelings toward siblings or other family members whom they want to prevent from acquiring or inheriting the older person’s assets.

Some elderly folks may be more prone to elder financial abuse on account of the fact that they are isolated, have suffered a recent loss and are relying on others to assist them, have physical or mental disabilities, a lack of familiarity with financial matters or they may have family members who are unemployed.

Whatever the case, we must send a strong message that just as physical and emotional abuse of the elderly is not acceptable, neither is financial abuse. While some perpetrators have faced the law courts in Barbados to date to answer charges in relation to the financial exploitation of the elderly, we must work harder to gather some statistics on this matter and work with the relevant agencies and authorities to stamp out financial abuse of the elderly.

Barbados Advocate

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