• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
(914) 220-1086

Law Offices of Thomas L. Gallivan, PLLC

Just another WordPress site

  • Home
  • About
    • Attorney Profiles
      • Daniel F. Gallivan
      • Thomas L. Gallivan
      • James C. Freeman
      • Andrew J. Gilbride
    • Testimonials
  • Practice Areas
    • Personal Injury
      • Car Accident Lawyers
        • Lawsuits and Settlements
        • Distracted Driving Accidents
        • After a Car Accident
        • Passenger in a Car Accident
        • How To Get Compensation
        • Uninsured Motorist Accidents
      • 9/11 Victim Compensation Fund Lawyers
      • Burn Injury Lawyers
      • Bus Accident Attorneys
      • Pedestrian Accident Lawyers
      • Slip & Fall Lawyers
      • Spinal Cord Injury Lawyers
      • Traumatic Brain Injuries
      • Truck Accident Lawyers
        • Delivery Truck Accidents
      • Wrongful Death Lawyers
      • Motorcycle Accident Lawyers
      • Uber Accident Lawyers
    • Nursing Home Abuse
      • Bedsores and Pressure Ulcers
      • Brain Bleeds
      • Bruises and Cuts
      • Elopement
      • Falls & Broken Bones
      • Group Home Abuse
      • Infections
      • Malnutrition
      • Medication Errors
      • Physical Abuse
      • Wrongful Death
    • Medical Malpractice
      • Birth Injury
      • Emergency Room Negligence
      • Failure to Diagnose
        • Stroke and Heart Attack
        • Lymphoma
        • Leukemia
        • Cancer
        • Breast Cancer
        • Colon Cancer
        • Prostate Cancer
        • Kidney Cancer
      • Hemiparesis
      • Gastric Bypass Malpractice
      • Medication Errors
      • Meningitis
      • Neurological Injuries
      • Statute of Limitations
    • Criminal Defense
  • Blog
  • Results
    • Medical Malpractice Results
    • Nursing Home Abuse Results
    • Personal Injury Results
  • Resources
    • Videos
    • Nursing Home Citation Map
    • Nursing Home Citations
    • Westchester County
      • Westchester County Accident Lawyer
      • Westchester County Contingency Fee Lawyers
      • Westchester Nursing Home Abuse Lawyers
    • New Rochelle
      • New Rochelle Car Accident Lawyers
    • Mamaroneck
  • Contact Us
  • Home
  • About
    • Attorney Profiles
      • Daniel F. Gallivan
      • Thomas L. Gallivan
      • James C. Freeman
      • Andrew J. Gilbride
    • Testimonials
  • Practice Areas
    • Personal Injury
      • Car Accident Lawyers
        • Lawsuits and Settlements
        • Distracted Driving Accidents
        • After a Car Accident
        • Passenger in a Car Accident
        • How To Get Compensation
        • Uninsured Motorist Accidents
      • 9/11 Victim Compensation Fund Lawyers
      • Burn Injury Lawyers
      • Bus Accident Attorneys
      • Pedestrian Accident Lawyers
      • Slip & Fall Lawyers
      • Spinal Cord Injury Lawyers
      • Traumatic Brain Injuries
      • Truck Accident Lawyers
        • Delivery Truck Accidents
      • Wrongful Death Lawyers
      • Motorcycle Accident Lawyers
      • Uber Accident Lawyers
    • Nursing Home Abuse
      • Bedsores and Pressure Ulcers
      • Brain Bleeds
      • Bruises and Cuts
      • Elopement
      • Falls & Broken Bones
      • Group Home Abuse
      • Infections
      • Malnutrition
      • Medication Errors
      • Physical Abuse
      • Wrongful Death
    • Medical Malpractice
      • Birth Injury
      • Emergency Room Negligence
      • Failure to Diagnose
        • Stroke and Heart Attack
        • Lymphoma
        • Leukemia
        • Cancer
        • Breast Cancer
        • Colon Cancer
        • Prostate Cancer
        • Kidney Cancer
      • Hemiparesis
      • Gastric Bypass Malpractice
      • Medication Errors
      • Meningitis
      • Neurological Injuries
      • Statute of Limitations
    • Criminal Defense
  • Blog
  • Results
    • Medical Malpractice Results
    • Nursing Home Abuse Results
    • Personal Injury Results
  • Resources
    • Videos
    • Nursing Home Citation Map
    • Nursing Home Citations
    • Westchester County
      • Westchester County Accident Lawyer
      • Westchester County Contingency Fee Lawyers
      • Westchester Nursing Home Abuse Lawyers
    • New Rochelle
      • New Rochelle Car Accident Lawyers
    • Mamaroneck
  • Contact Us
Call
Contact
Blog
Home  /  Fraud  /  Report: Financial Exploitation of Elderly Costs $2.9 Billion Annually

Report: Financial Exploitation of Elderly Costs $2.9 Billion Annually

money stack

by Law Offices of Thomas L. Gallivan, PLLC 21 May2014

The results of a 2011 report, a collaboration of numerous agencies, show that financial exploitation of the elderly resulted in $2.9 billion in losses to victims in 2010. Moreover, the study, titled, “The MetLife Study of Elder Financial Abuse: Crimes of Occasion, Desperation, and Predation against America’s Elders,” further concluded that losses from financial abuse were up by 12 percent since 2008, which saw a $2.6 billion loss to victims. Among the findings, the study reported that 51 percent of elder financial abuse involved strangers; 34 percent of financial abuse involved family, friends and neighbors; 12 percent of the cases involved businesses, including nursing homes, and four percent involved cases of Medicare and Medicaid fraud.

While Medicaid and Medicare fraud cases only represented four percent of elder financial abuse, such cases had the greatest financial impact on the victims. The report concluded that these fraud cases resulted in $38,263,136 in losses to victims in 2010. Financial exploitation of the elderly that involved legitimate businesses, such as financial consulting firms and nursing homes, resulted in $6,219,496 in losses. Financial exploitation involving family, neighbors and friends resulted in losses amounting to $145,768. Finally, financial elder abuse involving strangers, such as home repair and telephone scams, resulted in losses totally $95,156.

The report, which labelled financial elder abuse the “Crime of the 21st Century,” categorized the crime according to three types: occasion, desperation and predation. Occasion crimes are moments of opportunity that allows a perpetrator to take advantage of a victim. An example of such a crime would be a caretaker who finds an elderly person’s wallet on the counter and take money. Desperation crimes, however, often involve family members or friends who are desperate for money and are willing to do anything to get it. Desperation crimes often involve family members with substance abuse problems who are reliant upon the elderly victim for housing and money. Finally, crimes of predation often involved a perpetrator who gained the trust of the elder over time, only to victimize the elder by taking his or her assets and money.

Women are twice as likely to be victims of elder financial abuse. Most victims are between the ages of 80 and 89, live alone, and suffer from some form of cognitive or physical impairment. The perpetrators of the crimes were male in 60 percent of the cases and were between the ages of 30 and 59. Most of the cases–51 percent–involved strangers such as unscrupulous telemarketers or repair contractors. In 34 percent of the cases, the perpetrator was a family member or friend. In some cases, family members believed they were entitled to take money for providing care to the elderly victim.

The report also revealed that financial exploitation of the elderly increased during the holidays. However, the cases reported were somewhat unusual in that they usually involved relatively small amounts of money but had severe, traumatic and emotional impacts on the elderly victims. For instance, in one case, an elderly man was brutally beaten to death during the holidays by a young woman and her friends who had befriended the elderly victim. Although the man was killed, the perpetrators only stole $500.

Posted in: Fraud, Nursing Home Abuse

Primary Sidebar

Get In Touch

Practice Areas

  • Personal Injury
    • Wrongful Death
    • Motor Vehicle Accidents
    • Trucking Accidents
    • Pedestrian Accidents
    • Construction Accidents
    • Scaffolding Accidents
    • Slip, Trip & Falls (Premises Liability)
    • Negligent Supervision at a School or Day Care
    • Sidewalk Falls
    • Elevator Accidents
    • Train and Subway Accidents
  • Nursing Home Abuse
    • Bedsores (Pressure Ulcers)
    • Falls & Fractures
    • Malnutrition and Dehydration
    • Physical and Sexual Abuse
    • Wandering & Elopement
    • Unexplained Bruises and Cuts
    • Infection
    • Choking Incidents
    • Medication Errors
    • Group Homes
    • Assisted Living Facilities
  • Criminal/DWI Defense
    • DWI (Driving While Intoxicated)
    • Criminal Defense
    • Traffic Violations
    • DMV Refusal Hearings
    • Sex Crimes
    • Shoplifting & Larceny
    • Assault & Vehicular Assault
    • Drug Possession
    • Drug Sales
    • Weapons Charges
    • Domestic Violence
    • How is a DWI Defined in New York?
    • Is the Driver’s License Confiscated Immediately Upon a DWI Arrest?
  • Medical Malpractice
    • Failure to Diagnose Cancer
    • Birth Injuries (Gynecological, Obstetrical)
    • Medication Errors
    • Surgical Errors
    • Gastric Bypass Surgery Errors
    • Emergency Room Errors
    • Failure to Diagnose Heart Attack or Stroke
    • Cerebral Palsy
    • Erbs Palsy Birth Injury
  • Trusts + Estates
    • Wills & Trusts
    • Divorce, Child Support, Custody Issues
    • Elder Law
    • Estate Planning
    • Guardianships
    • Medicaid-Planning
    • Power of Attorney / Health Care Proxy
    • Probate and Estate Administration
    • Surrogate Court Litigation
    • Real Estate
    • Business Formation
    • Wills
    • Will Contests

View All Practice Areas

View All Blogs

CLIENT TESTIMONIALS

" Last year I was injured in an accident, and for the first time, needed the advice of an attorney regarding how to proceed. I was referred to Thomas Gallivan through a family member who is a lawyer in Massachusetts. I am beyond pleased with how Thomas handled my case. He was knowledgeable, professional, and although the case was not as straightforward as some, he used every resource to ensure a positive outcome. Thomas communicated with me regularly and I felt completely informed and confident in his ability. He expertly negotiated a fair settlement that I was very happy with. The entire experience was extremely positive, during a stressful time for me. Thank you Thomas. "

Melanie

" Attorney Thomas Gallivan is a wonderful attorney!! I particularly liked his professionalism, consistency, always kept us updated on the case, and available upon request. He worked extremely hard and was persistent on getting the best settlement in a timely matter. I truly appreciated his prompt responsiveness to emails and phone calls. The office staff was very pleasant and made sure to get messages to him asap. Glad we chose this law firm, would highly recommend and in the event that we ever need an attorney again, Gallivan & Gallivan would be my primary choice. "

Katherine R.

" I was a passenger on a motorcycle and ended up falling off the back of the bike due to the driver acting like an idiot. I fell off at a high rate of speed and was very banged up. Fractured wrist and road rash down my back and elbows. I am lucky I didnt die. Not knowing what to do I contacted Thomas and he could not have been anymore helpful!! He went out of his way to meet with me. He actually came to my house for the initial consultation. I know nothing about law or what my options even were. He took me through everything step by step. "

Colin W.

View All Testimonials

245 Main St Suite 450 White Plains, NY 10601

Phone:
(914) 220-1086

Fax:
(516) 394-4229

555 5th Ave 14th Floor
New York, NY 10017

Toll Free:
(855) 228-7369

(By Appointment Only)

1370 RXR Plaza
Uniondale, NY 11556

Phone:
(914) 594-6820

Fax:
(516) 394-4229

12 1st St
Riverhead, NY 11901

Phone:
(914) 825-5855

Fax:
(516) 394-4229

Personal Injury

  • Pedestrian Accident Lawyers
  • Slip & Fall Injury Lawyers
  • Wrongful Death Lawyers
  • Personal Injury Lawyers
  • Construction Accident Lawyers
  • Westchester County Personal Injury Lawyer

Nursing Home Abuse

  • Nursing Home Abuse Attorney
  • Bedsores Lawyer
  • Brain Bleeds
  • Bruises and Cuts
  • Elopement
  • Falls & Broken Bones
  • Group Home Abuse
  • Infections
  • How to Report Nursing Home Abuse

Car Accidents

  • Car Accident Lawyers
  • Car Accident Settlements
  • Distracted Driving Accidents
  • Truck Accident Lawyers
  • Delivery Accident Lawyers
  • Uber Accident Lawyers

Medical Malpractice

  • Medical Malpractice Lawyers
  • Emergency Room Negligence
  • Medication Errors
  • Neurological Injuries
  • Orthopedic Malpractice
  • Ophthalmology Errors
  • Failure to Diagnose
    • Heart Attack or Stroke
    • Leukemia
    • Cancer
    • Bladder Cancer
    • Breast Cancer
    • Colon Cancer
    • Skin Cancer

Birth Injury

  • Birth Injury Lawyers
  • Erb’s Palsy
  • Birth Asphyxia
  • Cerebral Palsy
  • Sepsis Infections
  • Neonatal Infections
  • Brachial Plexus
  • Hypo-Ischemic Encephalopathy
  • Shoulder Dystocia
  • Jaundice
  • Encephalomalacia

Helpful Content

  • Stage 4 Bedsore Lawsuits and Settlements
  • Nursing Home Abuse Citation Map
  • Signs of Nursing Home Abuse
  • Riverhead NY Injury Lawyers
  • White Plains Accident Lawyers

Footer

  • Personal Injury
  • Nursing Home Abuse
  • Medical Malpractice
  • Car Accidents

ATTORNEY ADVERTISING

Copyright © 2022, Law Offices of Thomas L. Gallivan, PLLC | Sitemap