New Effort Seeks to Prevent Financial Abuse Against the Elderly
In 2022, senior citizens in Wisconsin lost more than $43 million from scams, abuse.
File photo by Lukas Keapproth/Wisconsin Center for Investigative Journalism.
The Elder Justice Coalition at the University of Wisconsin-Green Bay created new teams to prevent financial abuse against the elderly, which a few years ago cost seniors in the state over $40 million.
The coalition reported that in 2022, senior citizens in Wisconsin lost more than $43 million to financial abuse.
Financial exploitation targeting older adults is big business nationally, costing elders nearly $30 billion a year, according to the American Association of Retired Persons.
The Wisconsin coalition developed Financial Abuse Specialist Teams, or FASTs.
Debi Leis, program specialist for the coalition, told WPR’s “Wisconsin Today” that the teams are multidisciplinary groups in a community that work together to prevent financial abuse and scams targeted at seniors.
There are currently four teams in Wisconsin: one in Walworth, Waukesha, Milwaukee and Dane counties. Three other counties, St. Croix, Wood and Sheboygan, are currently in the process of creating teams. Wood County is working with Ho-Chunk Nation to create their team, Leis said.
The coalition’s goal is to have at least least one team in each of the state’s five Adult Protective Services regions.
The teams are unique to each community.
“They’re run differently,” Leis said. “They have different goals.”
Members of a local team might include Adult Protective Services, aging and disability resource centers, the state Department of Financial Institutions, elder law attorneys, law enforcement or health care professionals, Leis said. “Pooling resources is the best outcome,” she said. “Law enforcement has access to resources that Adult Protective Services … just doesn’t have. Financial institutions have access to resources that law enforcement might not have.”
Prosecuting elder financial abuse can be challenging because victims tend to be medically or socially vulnerable, and perpetrators are often family members or others in positions of care. In 2022:
- Nearly 30 percent of alleged perpetrators of elder abuse in Wisconsin were children of the victims.
- 11 percent of alleged perpetrators were spouses.
- 7 percent were friends or neighbors.
Laura Nolan, associate director for business and government outreach at UW-Green Bay, said it’s important for families to plan ahead.
“Put together your financial power of attorney and your healthcare power of attorney paperwork ahead of time,” she said. “Find people within your family situation who are stable, who you trust, and who you know will be able to handle those financial decisions for you.” It’s also important for family members to know to ask questions if something seems to be off. Adult Protective Services has resources for what to do if someone suspects abuse or neglect. Nolan also recommended the help line at Report Elder Abuse Wisconsin, 1-833-586-0107.
New teams want to prevent financial abuse against the elderly in Wisconsin was originally published by Wisconsin Public Radio.
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