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Elder Financial Abuse In Florida: The Staggering Statistics

Shannon Miller Presents Elder Financial Abuse Statistics In Introduction To The Stop Exploitation Conference

 

Elder financial abuse is a multi-billion dollar problem and Florida is taking steps to stop exploitation. Gainesville hosted a conference for professionals across the state who work with aging adults and have a mission of stopping exploitation now.  Ms. Miller was the chair of the one day conference with these sponsors: Elder Law Section of the Florida Bar, AFELA (Academy of Florida Elder Law Attorneys), Elder Options, Elder Care of Alachua County, and the North Central Florida Senior Advocacy Network. Shannon Miller is a Florida Board Certified Elder Law Attorney with The Miller Elder Law Firm of Gainesville, Florida. She serves on the Florida Bar Elder Law Section’s Legislative Committee, is a Past President of the Academy of Florida Elder Law Attorneys (AFELA), and is a frequent speaker on elder law issues.

Some Staggering Statistics

  • 1 in 5 over 70 years old will be exploited.
  • Average cost of scam is $17,500. If it’s someone the victim knows, the cost is $50,000.
  • Average victim is exploited seven times.
  • 36 billion dollars, the amount of money exploited from individuals every year. That’s the same amount of money McDonalds earns annually. So every time you get a coffee or burger, someone is giving away money to a scammer.

Not only does exploitation wreck havoc but it kills the victim. The financial ruin, stress and emotional turmoil of victim and the families often results in a death event.

Overview of Stopping Financial Exploitation Conference

There are two panels for discussion, one is science-based and other is law-based for insight into the etiology of aging and vulnerability to scams and legal tools to stop and prevent elder financial abuse.

Also highlighted is a discussion about the current scams for awareness and successful strategies to prevent and issues you have experienced in your practice that need to be solved such as spoofing.

The Science and the Research

The focus is to understand the exploitable brain with presentations by Dr. Levin, Natalie Ebner, Dr. Brancaccio of Marketplace with his brains and losses research, and more.

Senator Passidomo will be with us today. She started the legislative ball rolling in 2012 (a Representative at the time). She will be President of the Senate in 2023 and her biggest issue for Florida is elder abuse. We are lucky to have her here and leading the Senate.

We are fortunate to have tools to handle and stop exploitation such as Exploitation criminal law used in civil venue as well. Absolutely the most effective and quickest tool is the Exploitation Injunction. Ellen Cheek brought this idea to the North Central Florida Senior advocacy network and Senator Kathleen Passidomo and the Elder Law Section of the Florida Bar took it and made it a reality. We are the first state in the country to have it.

The goal is to understand, stop, and prevent elder financial abuse with strong laws, prosecution, and identification of risk for this abuse.

Go to our Youtube channel to access the videos for each presenter at the conference.

The Miller Elder Law Firm

If you suspect financial abuse of a senior or anyone, please contact us at the Miller Elder Law Firm, 352.379.1900 or complete the form below and we will contact you.  We have helped hundreds of abuse victims recover and prevent financial abuse and we can help you and your family.