New Law Aimed at Protecting Elderly Residents from Financial Exploitation

A new law has been signed into effect by Governor Albert Bryan to protect elderly Virgin Islanders from financial exploitation. The bill, sponsored by Senator Allison DeGazon, is an amendment to the existing Virgin Islands Code that specifically prohibits the financial exploitation of elderly persons and dependent adults.

The Problem of Financial Exploitation

Financial exploitation of the elderly is a significant problem in the US Virgin Islands. Perpetrators often include individuals known to the victim, such as family members or caregivers. According to AARP research, the average victim can lose $120,000 to financial exploitation, which can be exacerbated by isolation and lack of access to support during times of crisis.

Warning Signs of Financial Exploitation

Recurring cash withdrawals or out-of-the-ordinary transactions can be a sign of financial exploitation. It is essential for individuals to be aware of these warning signs and take action to prevent financial crime against vulnerable seniors.

The New Law: A Multi-Agency Approach

Bill 33-0077 received support from a range of organizations, including the Virgin Islands Police Department, the Lt Governor’s office, AARP, the Department of Justice, and the Department of Human Services. The Economic Crime Unit within VIPD has been tasked with prioritizing cases involving financial exploitation of the elderly.

Key Provisions of the New Law

• Specifically prohibits the financial exploitation of elderly persons and dependent adults
• Requires the Economic Crime Unit to prioritize cases involving financial exploitation of the elderly
• Aims to educate and empower communities to safeguard seniors and provide support during times of crisis

Acknowledging Senator DeGazon’s Efforts

Senator DeGazon’s efforts to address this critical issue have been acknowledged by Governor Bryan, who expressed his full support for the measure in a transmittal letter to Senate President Novelle Francis. The Governor suggested revisions to increase protections for elders and combat acts of elder abuse.

A Significant Step Towards Addressing Elder Abuse

As World Elder Abuse Awareness Month comes to an end, the signing of Bill 33-0077 is seen as a significant step towards addressing this growing concern in the US Virgin Islands. By working together, communities can provide support and protection to vulnerable seniors and prevent financial crime against them.