3/23/2015 – The Scale of Financial Abuse of Seniors Will Shock You

Financial abuse of senior citizens has been estimated to cost its victims $2.9 billion a year. It is hard to estimate the scope of the problem, as financial fraud is underreported due to embarrassment, hopelessness, or the victims’ lac of awareness. With new, detailed financial data collected from family caregivers of older Americans, however, a study has now estimated that the problem is over ten times worse than previously thought, and that 37% of seniors are affected by financial abuse in any five year period. Read on to see how bad the problem is, the surprising factors that put your loved ones at risk, tips to make sure your loved ones are safe, and more ways to educate yourself.

Read the full article at The Motley Fool.