ELDER INVESTMENT FRAUD AND FINANCIAL EXPLOITATION PREVENTION PROGRAM

Program Description

"We talk about physical health and psychological health, but we also need to start asking about fiscal health."
Robert Roush - Associate Professor Geriatric Medicine.

"The 'Elder Investment Fraud and Financial Exploitation Prevention Program' (EIFFE Prevention Program) educates healthcare professionals to recognize when their older patients may be vulnerable to or victims of financial abuse, particularly those patients with mild cognitive impairment, and then to refer these at-risk patients to State Securities Regulators, local adult protective services professionals or for further medical screening."
-investorprotection.org

Addressing the topic of elder financial abuse in a health care setting is important since is it is a growing problem affecting a very vulnerable segment of the population, seniors. A senior's financial health affects overall health and well-being. A persons financial situation impacts purchase of food, medication, and other health care services.

Health care professionals are trained by the Elder Investment Fraud and Financial Exploitation Prevention Program to: go over a checklist to assess high risk situations, identify red flags for financial elder abuse, ask seniors assessment questions and make referrals to various agencies or organizations such as financial planning or bill paying assistance services, legal counsel or adult protective services, etc.

Doctors and other health care professionals learn that red flags for Elder Investment Fraud and Financial Abuse may include:

• Social Isolation.
• Bereavement.
• Dependence on another to provide care.
• Financially responsible for adult child or spouse.
• Alcohol or drug abuse.
• Depression or mental illness.
• Cognitive problems.
• Fearful, emotionally labile, or distressed.
• Suspicious, delusional.
• Change in appearance, poor hygiene.
• Accompanied by caregiver who is overly protective, dominates elder.
• Change in ability to perform activities of daily living (self-care, daily finances, medication management.)

Doctors and other health care professionals learn how to ask about possible elder financial abuse in a sensitive manner through introductory questions such as:

-We find that some older adults worry about money; may I ask you a few questions?
-Who manages your money day to day?
-Do you run out of money at the end of the month?
-Do you regret or worry about financial decisions you’ve recently made?
-Do you have a will or Power of Attorney? Has anyone asked you to change it?

The website has several helpful videos for healthcare professionals on how to prevent elder financial abuse and fraud with advice from experts along with real stories from financial abuse and fraud victims.

The Elder Investment Fraud and Financial Exploitation Prevention Program is a partnership between the Investor Protection Trust, the North American Securities Administrators Association (NASAA) and the National Adult Protective Services Association (NAPSA), U.S. medical associations including the American Academy of Family Physicians, the National Area Health Education Center Organization and the National Association of Geriatric Education Centers. 
source: bcm.edu: Preventing Elder Investment Fraud: Assessing for Vulnerability to Financial Exploitation

Find out more about the Elder Investment Fraud and Financial Exploitation Prevention Program Program

FIND MORE SENIOR PROGRAMS LIKE THIS:

-More Elder Abuse Prevention Training Programs
-Elder Abuse Prevention Programs
-Watch Elder Abuse Documentaries
-How to Stop Elder Abuse