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Home USA

Crackdown on elder abuse

by Blitzindiamedia
June 22, 2024
in USA
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Crackdown on elder abuse
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Team Blitz India

From the U.S. Postal Service to private senior centers, nationwide efforts to combat elder abuse have come back into focus across the United States after World Elder Abuse Awareness Day, according to a US publication.

International campaign

In its 18th year, the international campaign is observed worldwide every year on June 15. The United Nations has globally themed this year’s World Elder Abuse Awareness Day as “Older Persons in Emergencies,” but in the United States, much of the focus is on financial scams against the United States’ senior citizens, including a federal crackdown on what are called money mules.

Money mules use a range of fake claims—from false promises of companionship to made-up emergencies involving loved ones—to dupe the elderly into sending money to fraudsters. They typically operate in countries outside the United States. According to the U.S. Department of Justice, one out of 10 Americans over the age of 65 experience some form of elder abuse.

In May, as part of a multi-agency investigation led by the DOJ, FBI, Homeland Security, and U.S. Postal Inspection Service, federal officials shut down more than 3,000 money mule operations in the country.

Much of the focus is on financial scams against the United States’ senior citizens, including federal action against on what are called money mules.
Grandparent scam

In one case, which federal officials dubbed the “grandparent scam,” 11 men from the Dominican Republic and five people living in the New York area were indicted on charges of defrauding elderly Americans out of millions of dollars. One of the tricks they are accused of using is to contact grandparents and tell them one of their grandchildren had been arrested and that they needed to send bail money right away to get them out of jail. U.S. senior citizens who have fallen prey to call center scams have been tricked into emptying their retirement accounts and even signing over the deeds to their homes.

Blitzindiamedia

Blitzindiamedia

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The Fourth G20 Global Partnership for Financial Inclusion (GPFI) Meeting which was held in Mumbai from September 14-16, 2023 concluded on Saturday in Mumbai. The three day meeting saw G20 GPFI delegates engaging over thought provoking discussions on energizing growth for MSMEs, empowering consumers through digital financial literacy and consumer protection as well as key priority areas of GPFI, namely, digital financial inclusion and SME Finance. On day one of the Meeting, a Symposium was organised involving international experts engaging around two key themes “Energizing MSMEs for Higher Economic Growth through Digital Public Infrastructure” and “Credit Guarantees and SME ecosystems”. The Symposium was addressed by Ajay Seth, Secretary (Economic Affairs), Ministry of Finance; T Rabi Sankar, Deputy Governor (RBI); Mohamed Gouled, Vice President (International Finance Corporation) and Dr Arjun Kumar Karki, Global Coordinator-LDC Watch and Former Ambassador of Nepal to USA. Secretary (Economic Affairs) highlighted that through the New Delhi Leaders Declaration, the G20 Leaders renewed their commitment to accelerate “strong, sustainable, balanced and inclusive growth” and “the full and effective implementation of the 2030 Agenda for Sustainable Development” and underscored that MSMEs will be central in fulfilling both the commitments. Through two panel discussions, eminent global panellists deliberated upon approaches to bridge the challenges faced by MSMEs through innovative measures like DPI for bridging the credit gap, promoting transparency, enhance affordability and drive innovations and productivity gains. On day two and three, the GPFI Plenary Meeting saw discussions on GPFI work regarding implementation of G20 GPFI High Level Principles for Digital Financial Inclusion, Update of National Remittance Plans and SME best practices and innovative instruments to overcome common constraints in SME financing. The discussions contributed towards the culmination of the remaining work of the on-going three year FIAP 2020 which is in its terminal year and is being implemented by the GPFI. The day three discussions were also complemented with a Symposium on “Advancing Financial Inclusion through Digital Public Infrastructure: Empowering Consumers through Digital and Financial Literacy and Consumer Protection”. The Symposium was addressed by Harsh Vardhan Shringla, Chief Coordinator (G20, India), Dr V Anantha Nageswaran (Chief Economic Advisor, Ministry of Finance, Government of India), Shri KV Shaji Kumar (Chairman, NABARD) and saw engaging discussions on building digital ecosystems which enable digitally and financially empowered individuals and enterprises. GPFI members agreed to continue working towards the vision of universal financial inclusion under the new G20 Financial Inclusion Action Plan.

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