Madam, – The report of the Financial Services Ombudsman on mistreatment of older people by financial institutions (“Watchdog says elderly are ‘easy targets’”, July 15) is a stark reminder of the failure of the financial sector in Ireland to engage with the prevention, detection, assessment and management of financial abuse of older people.
It also emphasises that elder abuse is of concern in a broad spectrum of areas of life in Ireland, and not just in health and social sectors (where significant improvements in policy, structures and staffing have occurred).
It is of major concern that neither the Department of Finance nor the financial sector seem to have kept up with progress in other jurisdictions, where training and systems to prevent financial elder abuse have been seen as prudent and appropriate response to the ageing of our population, as well as a marker of corporate social responsibility by financial institutions.
The current structures for developing a societal response to elder abuse have been unsuccessful in getting engagement from the Department of Finance and the financial institutions. It must be hoped that the review (almost completed) of elder abuse policy and structures in Ireland will ensure the active participation of the Department of Finance and financial institutions in the next stage of developing adequate protection for older people from all forms of elder abuse. – Yours, etc,