This Insights article was contributed by Richard Pasquantonio, CPA/CFF, CFE, CDFA (NC License Number 33577), an associate at Adam Shay CPA, PLLC.
I recently had the opportunity to listen to Jane Jones, Director of the Area Agency on Aging Cape Fear Council of Governments, Susie Sprenger and Sean Dwyer from the Adult Services Division of the New Hanover County Department of Social Services, along with Detective Ron Beasley of the New Hanover County Sheriff’s Department.
They discussed the challenges their organizations have in meeting the increased demand in elder abuse reports.
Older adults are the fastest-growing segment of North Carolina’s population, with the number of people age 65 and over expected to increase from 969,000 in 2000 to 2.145 million by 2030. According to the National Committee for the Prevention of Elder Abuse (NCPEA), 20 percent of this segment of our population has experienced elder abuse.
Elder exploitation is the illegal or improper use of a disabled adult or their resources for another’s profit or advantage.
According to the Consumer Financial Protection Bureau, older adults are often targeted because of the wealth they have accumulated or because they have regularly occurring and secure income streams, such as pensions or social security. They are particularly vulnerable because they are often isolated, lonely, physically disabled and/or experiencing cognitive decline.
According to Adult Protection Services of New Hanover County, exploitation indicators include:
Holly Childs Resigns As WDI Head
Vicky Janowski
-
May 26, 2022
|
|
Aswani Volety Named New UNCW Chancellor
Johanna Cano and Johanna Still
-
May 26, 2022
|
|
Wilmington-based Realty Group Announces Changes
Cece Nunn
-
May 27, 2022
|
|
Firm To Convert Offices To Warehouse Space After $6M Purchase
Cece Nunn
-
May 27, 2022
|
|
WilmingtonBiz Talk Previewing Summer Tourism Season
Vicky Janowski
-
May 26, 2022
|
Fermental is one of Wilmington’s more unique watering holes – a bit quirky, but home to many loyal patrons who appreciate its laid-back atmo...
A staple in the community for about three decades, the Wilmington custom woodworking shop also features a retail component – a unique featur...
Innovation helps set a startup apart from the competition, said Heather McWhorter, regional director of the UNCW Small Business & Technology...
The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.