In nursing homes, abuse occurs in many different ways. Some residents are subjected to physical or verbal abuse, while others are sexually abused. Moreover, abuse also includes financial wrongdoing and many people living in nursing homes are especially vulnerable in this regard. Regrettably, some make poor decisions due to cognitive impairment and some people take advantage of those with Alzheimer’s disease and other mental challenges.
If you or a loved one suspect that financial abuse has occurred, it is critical to address the mistreatment swiftly and thoroughly.
Understanding the link between cognitive decline and financial abuse
On their site, the Consumer Financial Protection Bureau has published concerning information regarding financial mistreatment in nursing homes. According to the CFPB, roughly half of those who live in nursing facilities struggle with dementia. Moreover, the CFPB states that older adults are more likely to become victims of theft and financial offenses in comparison to the general population.
Furthermore, research shows that older adults have a greater risk of experiencing financial abuse even when they do not suffer from dementia or mild cognitive impairment.
Understanding the impact of financial abuse in nursing homes
Whether a nursing home resident is financially exploited by a loved one or a nursing home employee, the impact on their lives is often devastating. Not only does this abuse result in the loss of significant amounts of money, in many instances, but it often causes serious emotional hardships that can affect an older adult’s health. Depression, anxiety and other hardships are common and this abuse can shorten the lifespan of a victim.