1/29/2015 – Have We Grossly Underestimated The Extent Of Financial Elder Abuse?

For some time researchers, including those under the aegis of the U.S. government, have estimated the extent of losses to seniors each year from financial abuse to be $2.9B per year. A new study by

True Link, a private financial services company, concludes that the actual figure is over twelve times previous estimates, or $36.48 billion each year.

What gives the study credibility to me is certainly not that it was sponsored by a financial services organization that wants you to buy its online protection tools. Rather, it’s that according to their report, the design of this survey was guided by recommendations of an expert panel of fraud researchers convened by the Financial Fraud Research Center at the Stanford Center on Longevity.

Read the full article at Forbes.