|
Financial
abuse of elders and dependent adults is on the rise. In 1999,
225,000 cases of vulnerable adult abuse were reported
in California, of which approximately 25% were reported as financial abuse.
In 2002, at least 250,000 cases were
reported, with approximately 40% identified as financial abuse. Financial
abuse is one of the most under reported
crimes due to the victim's embarrassment, fear of loss of independence,
intimidation by the perpetrator, and widespread
lack of awareness that it is a crime. Victims of elder abuse,
neglect and financial exploitation are 3.1 times more likely to
die at an earlier age than those not victimized. Victims rarely
recover financially and losses often lead to depression,
increased physical problems, reliance on public benefits
and even death. Increased funding and partnership is urgently needed
to fight this growing problem.
Elder Financial Protection Network works
to prevent financial abuse of elders through innovative partnerships
that build public awareness, drive community outreach and
provide professional training.
Meet EFPN's Board of Directors
Elder Financial Protection Network was established
in the
year
2000 as a non-profit organization. In addition to raising
community awareness and providing education about
elder
financial abuse, since its inception EFPN has:
- Facilitated partnerships with more than 200 financial
institutions, adult social service, law enforcement and
regulatory agencies, organizations, foundations and community
groups throughout California and beyond.
- Raised over $1.4 million for prevention efforts and program
development
- Provided our ‘Be Wise’ fraud and financial
abuse
prevention training to thousands of seniors throughout California
in collaboration with our financial institution
and community partners.
- Won three international video awards for our “Be Wise” video training program
- Obtained key endorsements from the Attorney General
of California
and several
statewide professional and trade associations
- Received
the ‘Distinguished Service Award for Elder Abuse Prevention’ from
the Attorney General of California in 2003
|