Downturn in the Economy Sustains Greater Exploitation of the Elderly

Written by Adam Peck Category: Elder Abuse January 26th, 2013 2 min read

Officials say the downturn in the economy has led to far greater exploitation of the elderly as younger family members prey upon older relatives.

More and more, adult children are moving in with aging parents because of the tough economic times and then victimizing them. What can start as using some of their parents’ money for gas can escalate into totally wiping out their parents’ assets, according to area officials.

A hurting economy can make whatever funds are coming in all that more tempting for others

“Part of what we’re noticing is when the economy is tight, families will take steps to deal with that,” says Elder Attorney Steven C. Peck “And sometimes, that means moving people in with each other who haven’t lived together, which can create some dynamics that can create pressure.”

Younger people moving back home also can be under considerable stress because of their economic situation — stress that can lead to alcohol and other drugs that only increase the chances that they may abuse an older relative.

It is estimated that only about one in 25 cases of financial exploitation is reported, which the National Center on Elder Abuse suggests may mean that there are at least 5 million financial abuse victims each year.

The NCEA also estimates that about five of every six cases of elder abuse, neglect or exploitation, or self-neglect go unreported to authorities.

Officials say statistics often don’t show how frequently the crime occurs. But even departments that may not be seeing an increase in the number of cases believe there may be an increase in the severity of the cases.

Catching this exploitation early could prevent it from escalating, but that can be more difficult than it sounds.

“They will use whatever techniques they need to get it,” says Peck, “if the person is trusting.”

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Written by Adam Peck

Expertise: Personal Injury

Adam J. Peck, ESQ is a principal with Peck Law Group, APC. In 2008, Mr. Adam Peck received his Juris Doctorate from Whittier Law School where he graduated Cum Laude. His practice is primarily dedicated to representing Elders, Dependent Adults, along with their loved ones and family members, who have suffered horrific personal injuries.