MONTPELIER — In recognition of World Elder Abuse Awareness Day on June 15, the Vermont Department of Financial Regulation is warning financial professionals and the public to be alert for elder financial abuse. With Vermont’s large number of older residents, the department’s commissioner, Michael Pieciak, said that the financial exploitation of elderly citizens by family members or caretakers is a growing concern.
“Taking the time to understand the warning signs and the steps that can be taken to prevent financial abuse are key to helping those who cannot help themselves,” he said.
Signs may include guardians taking money from the individual for personal use, overcharging for caregiving services or failing to provide adequate care for the elderly person.
Pieciak is asking anyone with suspicions of possible senior financial exploitation to contact the agency at 802-828-3420 or email@example.com.