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SINGAPORE - An elderly woman was left penniless and homeless after she sold her house to live with her only son who promised to take care of her, but he disappeared after pocketing the sales proceeds.A woman in her 70s handed her ATM card to her son to help hBroke and betrayed: The silent scourge of Singapore seniors financially abused by their own children
SINGAPORE - An elderly woman was left penniless and homeless after she sold her house to live with her only son who promised to take care of her, but he disappeared after pocketing the sales proceeds.A woman in her 70s handed her ATM card to her son to help her withdraw money as she has mobility issues - only to find out that he took at least $20,000 to $30,000 from the account without her consent, leaving her with almost nothing.Social workers and lawyers told The Straits Times they have seen such cases of seniors financially abused by loved ones, and that elder financial abuse remains a hidden, under-reported problem.A Ministry of Social and Family Development (MSF) spokeswoman told ST that it is currently studying the issue with its partners. Financial abuse remains a concern, especially among the elderly, she said.Such cases include adult children forcing their parents to monetise their assets for the children's benefit, and withdrawing money from their parents' bank accounts without their knowledge.In some cases, the perpetrator turned violent. Read more