Financial abuse unaddressed in policies protecting the elderly The Straits Times released a report on Sunday (17 Jan) about the increasing number of cases of financial abuse faced by the elderly. According to the report, common cases include children cheating their parents into selling their homes, and denying the parents any proceeds that come after the sale. Children also squander their parents’ savings after assuming management of their finances. Think about it. This could be your grandparents being cheated of their retirement fund. And by their children, no less. Surprisingly, financial abusers cannot be punished as their actions are not a penal offence. Elders are also unprotected legally against this form of abuse. And the Government seems to be turning a blind eye to such financial abuse while focusing on physical abuse. The act yet to be enacted Source In 2015, Ministry for Social and Family Development Chan Chun Sing proposed the Vulnerable Adults Act. The initiative would permit the entry of social workers into the house of a victim, and the removal of the victim to a place of safety. The new act would also provide the protection required for victims who neglect or harm themselves. The proposed act, which […]
8 years ago
