Financial Crimes Haunt Elderly Virgin Islanders, New Law Brings Hope for Protection
A pressing concern has been affecting the Virgin Islands community - financial exploitation of elderly residents is a growing issue that affects not just individuals but the entire society. However, thanks to the efforts of Senator Allison DeGazon, a new law aimed at protecting vulnerable seniors from this type of abuse has finally been signed into effect.
Bill No. 33-0077: Strengthening Protections for Elderly Persons and Dependent Adults
Bill No. 33-0077, now Act No. 8318, amends the Virgin Islands Code to strengthen protections for elderly persons and dependent adults against financial exploitation. The bill was sponsored by Senator DeGazon and has received widespread support from various stakeholders, including:
- Virgin Islands Police Department (VIPD): working diligently to address this issue
- Lieutenant Governor’s office: providing support for the implementation of the new law
- AARP: conducting research on the impact of financial exploitation
- Department of Justice: ensuring that perpetrators are held accountable
- Department of Human Services: providing resources and support to vulnerable seniors
The Devastating Reality of Financial Exploitation
According to research by AARP, the average victim of financial exploitation can lose a staggering $120,000. The most common perpetrators are often individuals known to the victim, such as family members, caregivers, or other workers in the home, making it challenging for seniors to speak out against them. Repeated and out-of-the-ordinary cash withdrawals are a significant red flag for exploitation and scams.
The Impact of COVID-19
The COVID-19 pandemic has exacerbated this issue, with isolated and lonely seniors being more vulnerable to financial abuse. In response, Bill No. 33-0077 prioritizes the protection of elderly Virgin Islanders by implementing a multi-agency approach to prevent financial exploitation.
A Message from Senator DeGazon
Senator DeGazon expressed her pride in having sponsored the bill, stating, “Financial exploitation of the elderly affects all of us. It may be through an elderly parent, grandparent, aunt, uncle, or neighbor. Elder financial exploitation is a significant problem now and is expected to worsen with the aging of our community.”
A New Era of Protection
With the signing of Bill No. 33-0077 into law, Virgin Islanders can now breathe a sigh of relief knowing that their vulnerable seniors are better protected from financial abuse. The community must continue to work together to educate and empower individuals to identify and prevent elder financial exploitation, ensuring that our elderly residents are treated with dignity and respect.
Resources
- Virgin Islands Police Department (VIPD): 340-774-2211
- AARP: www.aarp.org
- Department of Justice: 340-776-7275
- Department of Human Services: 340-772-4450