We are proud to be one of the newest sponsors for the 7th Annual NAPSA Summit on Elder Financial Exploitation. The National Adult Protective Services Association (NAPSA) Summit aims at bringing together various industries to learn what role each plays in addressing elder financial exploitation and strategies on how to best coordinate information, strategies and tactics. This includes the financial services industry, police and prosecutors, consumer advocates, federal and state regulators, researchers and adult protective services.
This year’s Summit consisted of the following panels:
- Making Elder Abuse Visible: A Media Panel
- New York State’s Innovative Approaches to Elder Financial Abuse
- CFPB Elder Financial Abuse Initiatives
- Advancing the Cause: Legislatures and Regulator’s Work to Protect Older Persons
- California Pioneers New Approaches
- Quick, Accurate Tool to Assess Financial Capacity
- National Institute on Elder Financial Exploitation (NIEFE) – Report ton Research Initiatives
A recent survey conducted by New York State regarding the cost of financial exploitation found that only one in 45 cases of financial elder abuse are reported. The cost of services used to help victims of abuse is roughly $6.2 million annually. But families along with banks and financial institutions consist of the highest referrals made to APS regarding instances of financial abuse.
FSI continues to make the prevention of elder abuse an advocacy priority. To assist our members, we have created a resource center website. The purpose of the website is to provide FSI members with helpful resources and tools to assist in identifying and reporting elder financial abuse. Click here to learn more.