Two federal agencies have announced that they will hold a joint webcast to talk about preventing the financial abuse of the elderly.
In the last few years, the federal government has greatly stepped up its efforts to fight back against the financial abuse of the elderly. Criminal cases against scammers and abusers have increased greatly as a result.
Despite these efforts, many people believe that elder abuse is still on the rise in America. The increasing number of elderly people in the U.S. are an attractive target for abusers. The government might be picking up its efforts. Think Advisor reports that two agencies have announced they will be holding a joint webcast on the issue in "Treasury's Crime Unit, Consumer Bureau Team up on Elder Fraud Prevention."
The Bureau of Consumer Financial Protection and the Treasury Department’s Financial Crimes Enforcement Network are urging coordination between various groups involved with preventing the financial abuse of the elderly. Coordinating between different agencies is important, since different agencies need to work together to not only prevent abuse, but also to detect it when it happens and prosecute it.
The federal government continues to take the issue seriously and is looking for more ways to prevent the problem.
Reference: Think Advisor (May 29, 2018) "Treasury's Crime Unit, Consumer Bureau Team up on Elder Fraud Prevention."