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Financial Elder Abuse Abounds Amidst Pandemic

by Richard Kuehn on 07/19/21

AARP The Magazine recently ran an article about financial elder abuse, which, unfortunately, is often done by a family member.  Liz Loewy, former chief of the Elder Abuse Unit of the Manhattan District Attorney’s Office and now chief operating officer of a financial-monitoring company EverSafe said these crimes are all too prevalent.  Sadly, many cases go unreported.  A study of New York residents found that only 1 in 44 elder abuse cases were reported to authorities.  “They may start out helping a parent, with good intentions, and then, after the parent exhibits signs of diminished capacity, start diverting funds,” Lowey said.  “It often starts small, then progresses into ‘I wrote a few checks to pay for Johnny’s college.  I always said she wanted to help with tuition.’  Or beyond that, home improvement or a new car,” she said.  If you believe that you are witnessing elder abuse, please call Adult Protective Services.  Unfortunately, with the wealth on the Monterey Peninsula residents of Carmel, PG and Pebble Beach are often targeted.

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