WASHINGTON - The administrator of Maine's Office of Securities told members of the U.S. Senate Committee on Aging that more than 14,000 cases of financial abuse of elders were reported in Maine last year.
Judith Shaw said that in response,Maine has developed a program called Senior Safe, which enlists the help of banks and credit unions in fighting efforts to defraud older Mainers.
"Combating elder abuse and financial exploitation requires consistent education, identification, reporting, investigation and prosecution," Shaw said.
Maine Republican Sen. Susan Collins chairs the committee. She said that the financial exploitation of seniors has reached epidemic proportions, and Congress needs to act to help protect vulnerable seniors.
