AARP highlights financial exploitation crisis impacting seniors in Pennsylvania

On June 10, 2025, the Pennsylvania Aging & Older Adult Services and Commerce Committee convened to address the pressing issue of elder abuse, particularly focusing on financial exploitation. The meeting highlighted alarming statistics and the multifaceted approach needed to combat this growing problem, which not only affects the financial well-being of older adults but also their physical and emotional health.

The discussion opened with a stark reminder from the Secretary of Aging about the prevalence of financial exploitation, which is the most common form of elder abuse. This type of abuse often leaves older adults vulnerable, requiring intervention from the state’s Department of Aging and its network of local agencies. The AARP representative emphasized the importance of a multidisciplinary approach to effectively tackle elder abuse, advocating for training across various professional fields to enhance the detection and reporting of such cases.

A significant point raised during the meeting was the staggering increase in fraud losses, which reached $12.5 billion in 2024, marking a 25% rise from the previous year. However, the Federal Trade Commission (FTC) estimates that the actual losses could be as high as $158 billion, with older adults bearing a disproportionate share of this burden, losing approximately $61.5 billion. The underreporting of fraud cases was identified as a critical issue, with many victims failing to report incidents to law enforcement, thereby hindering efforts to combat these crimes.

The AARP's research revealed that a large number of adults, particularly those aged 50 and older, are concerned about becoming victims of fraud. Nearly half of this demographic expressed fears for their safety, with many reporting that they had experienced fraud or had sensitive information compromised. The meeting underscored the need for increased awareness and proactive measures among individuals to protect themselves, such as avoiding interactions with unknown contacts and securing their online accounts.

In addition to discussing the financial implications of elder abuse, the committee also addressed the emotional and physical toll it takes on victims. The AARP's findings indicated that victims often suffer from declines in mental health and increased physical health risks, including cardiovascular issues. The financial exploitation of older adults is not just a monetary loss; it can lead to a loss of dignity and a significant impact on their quality of life.

As World Elder Abuse Awareness Day approaches on June 15, the committee's discussions serve as a crucial reminder of the ongoing challenges faced by older adults in Pennsylvania. The meeting concluded with a call to action for individuals, law enforcement, and policymakers to collaborate in creating a robust defense against elder financial exploitation. The need for comprehensive strategies and community involvement is more urgent than ever to protect vulnerable populations from the rising tide of fraud and abuse.