How We Can Help Our Seniors…

June 15th is World Elder Abuse Awareness Day. How disheartening to think that there even is such a day! So, what can we do? The purpose of this day is to understand and realize the significant impact elder abuse has on seniors right here in our community and beyond and offers an opportunity for collaboration with community partners and advocates.

First Source takes an active role in educating our seniors, particularly on financial elder abuse, both on how to be proactive and what resources are available in the case of a scam or fraudulent incident.

According to the U.S. Department of Justice, in the United States, it is estimated that over 10% of those age 65 and older experience some form of elder abuse in a given year. Most of these incidents go unreported as victims choose not to come forward due to fear or embarrassment.

The U.S. Department of Treasury’s 2024 National Money Laundering Risk Assessment also advised elder financial exploitation is a growing money laundering threat, which has been linked to more than $3 billion in reported financial losses annually. 

It is all of our responsibilities to make sure our seniors feel comfortable coming forward so that investigations can take place and appropriate actions can be taken to stop financial abuse.

In conjunction with the Oneida County Office for Aging and Continual Care, all First Source branch locations have information available to Members with resources pertaining to elder abuse/financial exploitation and scams commonly associated with elder abuse. Each branch contains one master packet, which we will gladly make copies of for any Member that would like to take the information with them. As well, you can visit the Oneida County Office for the Aging & Continuing Care Elder Abuse Services page for resources and information.

Financial exploitation is defined as the improper use of an adult’s funds, property, or resources by another individual. It may include fraud, false pretenses, embezzlement, conspiracy, forgery, falsifying records, coerced property or monetary transfers, misuse of banking or credit cards, or denial of access to assets. Some signs that this could be happening are:

• Inability to pay bills for shelter expenses, food, appropriate clothing, or medications despite adequate income and resources

• Credit card bills from clothing or electronic equipment suppliers not likely to be frequented by the victim

• Anxiety when discussing finances

• Unusual transfers of assets to another person

If you suspect financial exploitation, call the Oneida County Office for the Aging & Continuing Care at (315) 798-5456.