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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.
The Older Americans Act of 2006 defines elder financial abuse, or financial exploitation, as “the fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including a caregiver or fiduciary, that uses the resources of an older individual for monetary or personal benefit, profit, or gain, or that results in ...
A breakdown of elderly fraud victims in New England by state. According to the FBI-Boston in 2023: 397 victims in Maine lost $7,162,225. 1,610 victims in Massachusetts lost $63,674,965.
Jun. 14—EL PASO — In honor of World Elder Abuse Awareness Day on June 15, the FBI wants to remind friends, family, and loved ones of elderly Americans to know the signs of elder fraud. While ...
Sixteen individuals have been charged in connection with a "grandparent scam" in which hundreds of elderly people were defrauded out of millions of dollars, said U.S. Attorney Philip R. Sellinger.
Accusations included fraud and deceit, elder abuse, breach of fiduciary duty, unfair business practices, and violation of part of the California health and safety code. [18] Vi denied any wrongdoing, but reached a settlement with affected residents in 2008 that included: A lump sum payment to residents,
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