WASHINGTON, DC – JUNE 15, 2015 – On the 10th anniversary of World Elder Abuse Awareness Day, the National Adult Protective Services Association (NAPSA) is launching the National Institute on Elder Financial Exploitation (NIEFE) to serve as the first national think tank on the complex issues of elder financial abuse.

Elder financial exploitation is widespread, with one in five adults aged 65 or older reporting they’ve been taken advantage of financially. It is also vastly under-reported, as only one in 44 cases of financial abuse is brought to authorities. Losses to financial exploitation cost the victims, their families, financial institutions and taxpayers tens of billions of dollars annually.

“Victims of elder financial exploitation are forced to live out their last days in fear, worse health, indignity and often poverty,” said Kathleen Quinn, NAPSA executive director. “NIEFE will raise awareness of the problem, develop and disseminate best practices, and recommend national policy and legislative initiatives to stop the abuse and bring its perpetrators to justice.”

Learn more: http://www.napsa-now.org/