You, or someone you know, could become the victim of a growing crime in America — financial abuse of older Americans. Seniors are increasingly becoming targets for financial abuse.
You, or someone you know, could become the victim of a growing crime in America — financial abuse of older Americans. Seniors are increasingly becoming targets for financial abuse. As people over 50 years old control over 70 percent of the nation's wealth, fraudsters are using new tactics to take advantage of retiring baby boomers and the growing number of older Americans. Senior financial abuse is estimated to have cost victims at least $2.9 billion last year alone.
Past blogs, podcasts and webinars with helpful tips for seniors and their loved ones.
In the last few years, the calls I receive from a friend or family member of a victim of financial elder abuse have increased exponentially. People are looking for guidance on how to stop it, or how to recover money that has been lost. Unfortunately there is no easy solution, but in today’s blog post we thought we would focus on resources available for recovering from financial abuse.
Today, June 15, 2020, is World Elder Abuse Awareness Day. World Elder Abuse Awareness Day (WEAAD) was launched by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations (UN).
Financial abuse of elders and dependent adults is on the rise during the COVID-19 Pandemic, yet it continues to be one of the most under-reported crimes due to the victim's embarrassment, fear of loss of independence, intimidation by the perpetrator and widespread lack of awareness that it is a crime.
June is World Elder Abuse Awareness month, and today we wanted to shine the light on new variations of common scams targeting older adults. It’s no secret that scammers follow the headlines, and it didn’t take long for them to start using COVID-19 as the new bait to hook their victims.
Financial abuse of seniors is a devastating crime that banks are uniquely positioned to help identify. It can be as simple as taking money or as involved as coercing or manipulating a victim into turning over property to an abuser. Unfortunately, we are seeing an increasing trend in fraud against seniors, and much goes unreported.
