Elder justice advocates fear financial exploitation of seniors on the rise

The pandemic has brought an increase in calls for help for seniors, leading to fears that financial exploitation of vulnerable adults is on the rise amid the COVID-19 crisis, advocates and researchers tell 5 EYEWITNESS NEWS.

"It’s really scary to watch this all play out in the middle of a pandemic," said Amanda Vickstrom, executive director of the Minnesota Elder Justice Center.

Chief among their concerns is the isolation factor, coupled with a system of other checks and balances that has gone away as people avoid close contact with older adults.

"In a pandemic, we’re telling people to stay home," Vickstrom said. "It forces people to rely more heavily on those most intimately, physically close to them and that can be, very often, someone who isn’t looking out for that person’s best interest."

Family members are often at the center of financial exploitation of elders, 5 INVESTIGATES found earlier this year. A review of 232 criminal cases involving financial exploitation of a vulnerable adult revealed the suspect was related to the victim in two-thirds of all cases.

‘Exploiting Trust’: Minnesota’s senior citizens are financially abused by family members at alarming rate

Marlene Stum, a professor of family and social sciences at the University of Minnesota studies elder family financial exploitation and said the pandemic has created windows of opportunity for perpetrators. One example, she said, is possibly someone who has lost their job or is otherwise unemployed and relies on an older adult parent for financial support.

"It could be a trigger for somebody who is really needy and might have inappropriate motivations," Stum said.

Both Stum and Vickstrom said the next six months have the potential to be the most dangerous for older adults.

"I’m worried about the long-term isolation that I fear will happen over the winter," Vickstrom said.

Advocates and researchers agree that it’s up to friends and neighbors to keep an eye on seniors in their community.

"You can walk over to your neighbor’s house and not physically be in their house, and still see them and see if they need anything," Vickstrom said.

Stum said people should make sure those older adults in their lives have access to technology and a way to connect with people. If something feels off, she said, trust your instincts and get help.

You can report suspected abuse, neglect or exploitation anonymously in Minnesota by calling the statewide hotline at 1-844-880-1574.

Advocates at the Minnesota Elder Justice Center are also a resource to call for information at 651-440-9300.