Report on Financial Exploitation of Older Adults
In response to Governor Wolf's Executive Order on protecting vulnerable populations, the Pennsylvania Department of Aging has released a study on the impact of financial exploitation of older adults in Pennsylvania.
The study reviewed financial exploitation cases in 14 Pennsylvania counties during the period July 1, 2017 through June 30, 2018 to examine the types of financial exploitation that occurred, the combined amount lost, and the financial impact of these losses on the victims, the economy and the commonwealth. The study also reviewed financial exploitation studies conducted by three other states, as well as academic literature published on the topic.
The complete report can be found below, including the Department of Aging's recommendations for how the commonwealth can strengthen prevention efforts.
PA Department of Aging – Financial Exploitation of Older Adults Study Report
Financial Exploitation Task Force
One of the major recommendations of the Financial Exploitation Study Report was the formation of a Financial Exploitation Task Force. From December 2020 through April 2021, PDA convened state agencies, aging, legal, financial, law enforcement, healthcare stakeholders and subject matter experts to discuss the issue of financial exploitation and focus on a multi-disciplinary approach to its prevention. The resulting report, released June 15, 2021, outlines the task force’s recommendations for collaborative action in four key areas: education, training, operations & procedures, and legislative, along with strategies for accomplishing these tasks.
PA Department of Aging - Financial Exploitation of Older Adults Task Force Report