May 1, 2019
Financial exploitation happens when someone illegally or improperly uses someone else's money or belongings for their personal use. Financial exploitation is the fastest growing form of elder abuse. It is a crime and is often not reported. In 2017, the Ombudsman program investigated 3,847 complaints involving financial exploitation (see below).
Long-Term Care Ombudsman programs (LTCOPs) are often the first to notice the warning signs of possible financial exploitation or the first a resident confides in regarding being a victim of financial abuse. Included below are tips, tools, and action steps to help Ombudsman programs protect long-term care consumers from financial exploitation.
- Learn about financial exploitation.
- Speak with residents about their rights.
- Share information about financial exploitation with residents and family members/visitors.
- Discuss the responsibilities of long-term care providers to protect residents from financial abuse.
- Speak with resident and family councils about financial exploitation.
- Include information about financial exploitation in training for LTCOP staff and volunteers.
- Join (or start) a local elder abuse prevention coalition/task force.
- Communicate with local law enforcement.
- Connect with Adult Protective Services.
- Increase public awareness of financial exploitation.
Find more information about each of these 10 action steps here.
Consumer Factsheets on Financial Exploitation
These fact sheets discuss the prevention, detection, and reporting of financial exploitation in assisted living and nursing homes. There are separate fact sheets for residents of assisted living facilities, nursing homes, and their family members.
Assisted Living Facilities
Protecting Residents from Financial Exploitation: How Ombudsmen Can Use the New CFPB Guide in Their Work
This webinar discusses the Consumer Financial Protection Bureau's guide for assisted living and nursing facilities entitled "Protecting Residents from Financial Exploitation." In addition to enhancing LTCOP advocacy skills regarding the warning signs of financial exploitation and learning about effective strategies to prevent and respond to such abuse, LTCOPs can share these tips and the guide with facility staff. View the recording, slides, and Tips for How Ombudsmen Can Use the Guide in Their Work.
- For more information on financial exploitation, visit the NORC website here.
- For more information and resources on abuse, neglect, and exploitation, visit the NORC website here.
- Training materials created by NORC on abuse, neglect, and exploitation are available here and additional Ombudsman training is available here.
- View the Consumer Voice issue page on financial exploitation here.
- The National Center on Elder Abuse (NCEA) serves as a national resource center dedicated to the prevention of elder mistreatment, view their website here.
- World Elder Abuse Awareness Day (WEAAD) is June 15, 2019. Find tools, tips, events, and information about WEAAD here.
Read archived issues of NORC Notes here. If you have a question, are not able to find a resource, or want to share training materials or program practices, please email firstname.lastname@example.org.