Financial Elder Abuse
When asked whether they thought they might be at risk for financial elder abuse or fraud, the overwhelming majority of surveyed older adults – 81%, in fact – were confident that they would never fall for a scam. We all want to believe we’re too savvy and smart to be taken advantage of; but the reality is, many scammers are even smarter and savvier.
And though we might assume that financial fraud mostly occurs at the hands of strangers, the truth is that as many as two out of three of all financial crimes are committed by people the victim knows and trusts.
The good news is, there are several steps that seniors and their loved ones can take to protect themselves:
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