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June is also known as World Elder Abuse Awareness Month, and with that, the FBI-Boston is reminding people to protect their elderly loved ones from fraud. "While elder abuse can be perpetuated in ...
Elder financial scams are skyrocketing, with suspected fraud against seniors up nearly 50 percent in 2023, according to Thomson Reuters data (and 2022 was already a record year, up 50 percent from ...
Seniors are taking the brunt of financial fraud to the tune of $3.4B+. Learn the most common peer-to-peer, impersonation and other scams on the rise to keep your money safe.
5.2% of seniors experience financial abuse by family members Only includes financial abuse by family members in the past year among adults 60+. Other studies have suggested about a third of incidents involve a family member or friend, so this is also consistent with a 15% victimization rate. Investor Protection Trust [12] 2010
Elder abuse (also called elder mistreatment, senior abuse, abuse in later life, abuse of older adults, abuse of older women, and abuse of older men) is a single or repeated act, or lack of appropriate action, occurring within any relationship where there is an expectation of trust, which causes harm or distress to an older person. [1]
Seniors lose more money by far to scams than any other demographic, with the median loss totaling $350, the Better Business Bureau found. And not surprisingly, there has also been a tide of ...
After the Elder Abuse Prevention and Prosecution Act was passed, the Department of Justice announced the Elder Justice Initiative [6] – "to support and coordinate the Department's enforcement and programmatic efforts to combat elder abuse, neglect and financial fraud and scams that target our nation's seniors."
Seniors offer an easy jackpot for scammers, to the tune of $3 billion in losses annually. They are often homeowners, sitting on top of savings, and in good credit. They are often homeowners ...