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:
Chamber Announces New Board Leaders, Members
Staff Reports
-
Jan 24, 2023
|
|
Shopping Center Planned In Leland, Could Include Publix
Staff Reports
-
Jan 23, 2023
|
|
Potential Tenants Already Interested In Leasing Parts Of Former PPD Building, Officials Say
Cece Nunn
-
Jan 23, 2023
|
|
Commercial Real Estate Firm Announces Hirings, Promotions
Staff Reports
-
Jan 24, 2023
|
|
County Moves To Purchase $1.5M Facility, Approves $5.6M Elections Building
Johanna F. Still
-
Jan 24, 2023
|
Many industries have started to recover from the roiling effect the pandemic had on the labor market, but nearly three years after the first...
Boombalatti’s Homemade Ice Cream became a local favorite when it first opened in The Forum on Military Cutoff Road in 1999. When Wes and Kri...
Landon Hill is the founder and owner of the mobile app that seeks to promote local fishers and make it easier for buyers to find fresh seafo...
The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.